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Paladin adds to resource in Canada

Paladin adds to resource in Canada

Photo by Bloomberg

27th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Uranium miner Paladin Energy has increased the measured and indicated resource of its Michelin uranium deposit, in Canada, by 25% to 84.1-million pounds of uranium oxide (U3O8).

The ASX- and TSX-listed miner converted some 13.2-million pounds U3O8 from the inferred category into the measured and indicated categories, as well as adding an additional 3.8-million pounds U3O8 to the measured and indicated resource.

The inferred resource was now estimated at 22.9-million pounds U3O8.

Paladin said the Michelin deposit remained open along strike and at depth, and still had a number of internal under-drilled areas. Drilling programmes have been designed to both infill and extend the existing mineral resource.

There were also a number of targets within the Michelin-Rainbow trend which were actively being explored and would likely contribute to the economic viability of the Michelin project.

Edited by Creamer Media Reporter

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