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Vimy adds to Mulga Rock resource

19th December 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Uranium developer Vimy Resources, previously known as Energy and Minerals Australia, has reported a 60% increase in the resource estimate at Princess deposit, at its Mulga Rock uranium project in Western Australia.

The Princess deposit is now estimated to host a resource of 3.8-million tonnes, grading 480 parts per million uranium oxide (U3O8), for a contained four-million pound resource. Some 1.9-million pounds of this resource was classified as indicated.

The resources at the Ambassador, Shogun and Emperor deposits have also been converted into Joint Ore Reserves Committee complaint resources, Vimy reported on Friday.

The Ambassador deposit was now estimated to host some 27.6-million tonnes, for 28.3-million pounds of U3O8, while the Shogun and Emperor deposits have a combined resource of 27.8-million tonnes for 31.2-million pounds of contained U3O8.

The Mulga Rock project as a whole was now estimated to host some 59.2-million tonnes, grading 490 ppm for 63.5-million pounds of contained U3O8.

“Once we completed our recapitalization in July this year, it was all hands on deck as we ramped-up our exploration programme and started our prefeasibility study (PFS),” said MD Mike Young.

“It has been a very busy time for our team as we conducted infill resource drilling, metallurgical test work and moved into our PFS. We also submitted our environmental scoping document as we begin the approvals process for the Mulga Rock uranium project.”

Young said that Vimy was hoping to bring the Mulga Rock project into construction by the second half of 2016, with production slated to start in 2017 to meet the expected uranium demand.

Edited by Creamer Media Reporter

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