Macusani Yellowcake more than doubles Peruvian resources
TORONTO (miningweekly.com) – Peru-focused uranium project developer Macusani Yellowcake has lifted the National Instrument 43-101-compliant measured and indicated resources for its uranium properties on the Macusani Plateau by 167%.
The company on Wednesday said it had also increased the inferred resources by 9%, saying the updated resource estimates for each of its properties was significant on a number of levels.
“First, we have surpassed a U3O8 [triuranium octoxide] geological resource of a threshold level that sets us apart from many of our peers. Second, this allows us to consider a much larger uranium production scenario. And finally, it paves the way for us to complete a preliminary economic assessment (PEA) study, which we expect to release in the fall of 2013,” MD Dr Laurence Stefan said.
The resource estimates, based on a 75 parts per million (ppm) uranium cutoff, included 47.86-million tonnes grading 253 ppm uranium, containing 14.27-million kilograms U3O8.
In the inferred category, the resource estimate comprised 40.46-million tonnes grading 286 ppm uranium, containing 13.64-million kilograms of U3O8.
Stefan had previously told Mining Weekly Online that the Macusani complex had ores amenable to simple heap-leach extraction, placing its production costs among the lowest in the industry. A 2010 PEA estimated cash production costs of less than $22/lb.
The deposits comprise large, near-surface deposits, suitable for openpit extraction, with metallurgical recoveries of more than 90%.
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