BKY Berkeley Energia Limited

 

TIDMBKY 
 
RNS Number : 4061X 
Berkeley Resources Limited 
06 December 2010 
 

6 December 2010 
 
 
                           BERKELEY RESOURCES LIMITED 
 
                  Drilling Update - Salamanca Uranium Project 
 
Berkeley is pleased to announce final results from the reverse circulation (RC) 
drilling program at Sageras, including the new north-west extension, and 
commencement of diamond drilling to obtain sufficient samples for Phase 2 of the 
Feasibility Study metallurgical test work program. 
Final chemical assay results from the RC drilling program at Sageras extend the 
new north-west zone for 200 metres beyond the current resource outline.  A 
follow up program RC drilling program is planned to determine the limits of this 
extension. 
A 70 hole, 5000m diamond drilling program, located entirely within the proposed 
mine plan, has commenced at Sageras and Alameda South, and will be followed by 
drilling at Palacios North. A third rig will commence drilling at the Retortillo 
deposit in the next few weeks. 
The e-grade results from the first eight diamond holes at Sageras show excellent 
correlation in both grade and thickness, with the updated resource model 
announced in September.  Notable intersections are shown in Table 1. 
                        Table 1 - Notable Intersections 
+---------+-------+-------+----------+-------+ 
|  Hole   | From  |  To   |Interval  |eU3O8  | 
|   ID    |       |       |          |       | 
+---------+-------+-------+----------+-------+ 
|         |  (m)  |  (m)  |   (m)    |(ppm)  | 
+---------+-------+-------+----------+-------+ 
|SGD-056  |11.36  |14.46  |  3.10    |1,717  | 
+---------+-------+-------+----------+-------+ 
|         |33.29  |39.61  |  6.32    |3,578  | 
+---------+-------+-------+----------+-------+ 
|SGD-060  | 8.76  |23.45  |  14.69   |  303  | 
+---------+-------+-------+----------+-------+ 
|         |25.25  |32.62  |  7.37    |  948  | 
+---------+-------+-------+----------+-------+ 
|         |37.18  |52.88  |  15.70   |  857  | 
+---------+-------+-------+----------+-------+ 
|SGD-061  |12.10  |19.23  |  7.13    |1,285  | 
+---------+-------+-------+----------+-------+ 
 
Commenting on this development the Managing Director of Berkeley Resources, Mr. 
Ian Stalker said: 
 
"The encouraging results from the initial heap leach test work already 
undertaken at SGS in Perth have enabled the commencement of the next phase 
involving larger scale tests that require significantly more material.  The 
early start of the drilling at Sageras and Alameda South, and the initial 
results, confirm that we are on track with the second phase of the metallurgical 
test work program." 
 
Enquiries -       Managing Director:                 Ian Stalker       Tel:  +34 
608 221 497 
                        RBC Capital Markets:            Martin Eales    Tel: 
+44 20 7029 7881 
Salamanca Uranium Project 
 
The Salamanca Uranium Project (SUP) consists of four areas containing a number 
of 
metasedimentary hosted uranium deposits located in the western part of the 
Salamanca Province in Spain. 
 
Berkeley commenced a Feasibility Study process for the SUP in May 2009, 
following Cabinet approval of the Co-Operation Agreement between Berkeley and 
ENUSA.  The Feasibility Study is progressing in 2 separate phases: 
 
1.   Phase 1 is focusing on a tank leach scenario with a production rate of 2.1 
Mlbs (0.95 Kt) of U3O8 per annum with the Sageras and Palacios North deposits 
providing the initial feed to the Quercus Plant. 
2.   Phase 2 aims to increase the production rate up to 5 Mlbs (2.3 Kt) of U3O8 
per annum by establishing heap leach operations at Alameda and Retortillo. 
Berkeley has already completed a number of drilling campaigns as part of the SUP 
Feasibility Study: 
 
·   A 5,000m confirmatory diamond drilling program commenced in October 2009 at 
the Sageras, Palacios North and Alameda South deposits. The program was 
completed in March 2010 and succeeded in confirming the historical data as well 
as highlighting potential extensions to the known mineralisation. 
·   An 8,000m RC infill drilling program commenced in June 2010 at the Sageras, 
Palacios North and Alameda South deposits. The program was completed in August 
2010 and successfully upgraded and increased the resources at Sageras and 
Alameda South. 
·   A 1,400m metallurgical diamond drilling program was completed at the Sageras 
and Alameda South deposits. Over 14 tonnes of diamond drill core was collected 
and sent to SGS laboratories in Perth. 
 
RC Drilling Results 
 
Final chemical assay results from the RC drilling program at Sageras West 
included a number of holes with mineralisation that were not included in the 
Mineral Resource update announced in September. 
 
As a result the new zone of mineralisation at Sageras West has been extended 
more than 200m to the north-west, and is still open.  A detailed review of the 
drilling results, ground radiometrics and gamma activity data from soil samples 
indicate 2 separate zones of mineralisation that could extend the resource 
limits a further 500m to the north-west, albeit at lower grade. The area is 
partially covered with tertiary and quaternary material which masks the 
radiometric signature. 
 
 
 
 
 
Metallurgical Diamond Drilling 
 
Up to 21 tonnes of material is required to enable the Phase 2 Feasibility Study 
metallurgical test work (Table 2).  All of this material will be sourced from PQ 
diamond drill core(core diameter 85mm). 
 
                        Table 2 - Metallurgical Material 
+---------------------+-------+--------+----------+ 
|      Deposit        |    Drilling    |Material  | 
+---------------------+----------------+----------+ 
|                     |Holes  |Metres  |  (kg)    | 
+---------------------+-------+--------+----------+ 
| Palacios            |   12  |  740   |  2,000   | 
| North               |       |        |          | 
+---------------------+-------+--------+----------+ 
| Sageras             |  23   | 1,520  |  7,000   | 
+---------------------+-------+--------+----------+ 
| Alameda             |  26   | 2,120  |  7,000   | 
| South               |       |        |          | 
+---------------------+-------+--------+----------+ 
| Retortillo/Santidad |  16   | 1,200  |  5,000   | 
+---------------------+-------+--------+----------+ 
|        Total        |  65   | 4,840  |  21,000  | 
+---------------------+-------+--------+----------+ 
 
Eight holes have already been completed at Sageras and the e-grade (equivalent 
U3O8 ppm grades or eU3O8) intersections above 200 ppm eU3O8 are listed in Table 
3. These results give excellent correlation in grade and thickness with 
estimated resource blocks. 
 
A second diamond drill rig has commenced drilling at the Alameda South deposit 
on Hole ASD-062, the first of the 26 planned holes. 
 
A further 12 metallurgical test work holes are planned at Palacios North. 
 
Retortillo Drilling 
 
Berkeley drilled over 80 RC and diamond holes at the 100% owned Retortillo 
deposit in 2007 and over 200 holes at Santidad.  Mineral Resource Estimates were 
announced for both deposits in 2007 and 2008 and both included a significant 
Inferred resource component (63% at Retortillo and 71% at Santidad).  A 13,000m 
combined DDH and RC drilling program has been planned for these two deposits to 
upgrade the Inferred resources to Measured and Indicated, test for lateral and 
depth extensions and to generate sufficient drill core for the Phase 2 heap 
leach metallurgical test work program.  Approval from the Salamanca Mines 
Department has been received and drilling should commence in the next few weeks. 
 
 
 
                 Table 3 - Sageras DDH Intersections (e-grades) 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|  Hole   |Easting  |Northing  |Elevation  |Depth  |Azimuth  |Dip  | From  |  To   |Interval  |eU3O8  | 
|   ID    |         |          |           |       |         |     |       |       |          |       | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |  (m)    |   (m)    |    (m)    |  (m)  |  (º)    |(º)  |  (m)  |  (m)  |   (m)    |(ppm)  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-056  | 700481  | 4502556  |    653    |46.60  |    0    |-90  |11.36  |14.46  |  3.10    |1,717  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |37.00  |40.58  |  3.58    |  643  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-057  | 700481  | 4502556  |    653    |94.80  |  224    |-60  |16.64  |18.14  |  1.50    |  552  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |21.20  |24.43  |  3.23    |  442  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |30.44  |31.70  |  1.26    |2,301  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |33.29  |39.61  |  6.32    |3,578  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-058  | 700349  | 4502851  |    645    |92.59  |  224    |-60  |15.09  |19.05  |  3.96    |  359  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |26.02  |28.10  |  2.08    |1,131  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |48.35  |49.56  |  1.21    |  853  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-059  | 700349  | 4502851  |    645    |94.88  |    0    |-90  |13.07  |15.61  |  2.54    |  376  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |23.19  |28.80  |  5.61    |  493  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |34.47  |37.36  |  2.89    |  878  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |46.00  |47.92  |  1.92    |  788  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-060  | 700349  | 4502851  |    645    |88.50  |   44    |-60  | 8.76  |23.45  |  14.69   |  303  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |25.25  |32.62  |  7.37    |  948  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |37.18  |52.88  |  15.70   |  857  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |54.75  |58.00  |  3.25    |  580  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |69.06  |73.95  |  4.89    |  561  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |76.22  |79.89  |  3.67    |1,199  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-061  | 700172  | 4502884  |    653    |51.25  |  224    |-60  |12.01  |19.23  |  7.13    |1,285  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |26.45  |  29   |  2.55    |  371  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-062  | 700172  | 4502884  |    653    |68.00  |    0    |-90  | 7.98  |10.06  |  2.08    |  475  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |13.15  |14.80  |  1.65    |1,137  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |20.89  |23.16  |  2.27    |  721  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |53.05  |55.19  |  2.14    |  899  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|SGD-063  | 700172  | 4502884  |    653    |70.25  |   44    |-60  |22.06  |25.63  |  3.57    |  398  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |28.39  |31.43  |  3.04    |  456  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
|         |         |          |           |       |         |     |44.23  |50.28  |  6.05    |  495  | 
+---------+---------+----------+-----------+-------+---------+-----+-------+-------+----------+-------+ 
 
 
 
 
 
Notes 
 
The uranium grades reported in this release are annotated with a sub-prefix "e" 
because they have been reported as uranium equivalent grades derived from 
down-hole gamma ray logging results and so they should be regarded as 
approximations only. 
The Berkeley drill holes were logged with a GeoVista total count gamma tool. The 
gamma tool was calibrated in Adelaide at the Department of Water, Land and 
Biodiversity Conservation in calibration pits constructed under the supervision 
of CSIRO. The various calibration factors were calculated by David Wilson BSc 
MSc MAusIMM from 3D Exploration Ltd based in Perth, Western Australia. 
Drill hole co-ordinates are in UTM 29 ED 50 Datum grid and have been surveyed 
using a DGPS. 
Drill intersections are calculated using a 200 ppm eU3O8 lower cut-off with a 
minimum 1 metre intersection. 
As a check on the down-hole gamma logging data, hand held scintillometer 
readings were taken along the mineralised sections of the core.  These showed 
good correlation with the down-hole gamma readings and were used to identify 
sections which may have been affected by radon.   The down-hole gamma results 
also confirmed visual observations of significant uranium mineralisation in all 
of the holes. 
 
 
 
 
 
 
 
 
 
 
 
 
 
A full version of this announcement including images can be downloaded from 
Berkeley's website at www.berkeleyresources.com.au. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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