TIDMBKY
RNS Number : 8874I
Berkeley Energia Limited
05 September 2016
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 5 September 2016 | AIM/ASX: BKY
High grade intercepts below Zona 7 point to resource upgrade
Additional high grade intersections have been recorded below the
Zona 7 deposit, further supporting previous indications of
continuity of mineralisation beneath the current defined
resource.
Results from a further four holes drilled through the
near-surface Zona 7 deposit and extended to a maximum depth of 271
metres have reported grades consistent with, or higher than, the
average grade of the Zona 7 resource.
Outstanding intercepts include:
-- 14 metres @ 1,776 ppm U(3) O(8)
incl. 8 metres @ 2,644 ppm U(3) O(8)
-- 26 metres @ 1,103 ppm U(3) O(8)
incl. 4 metres @ 3,973 ppm U(3) O(8)
-- 10 metres @ 635 ppm U(3) O(8)
incl. 1 metre @ 2,246 ppm U(3) O(8)
-- 14 metres @ 597 ppm U(3) O(8)
incl. 2 metres @ 1,204 ppm U(3) O(8)
-- 17 metres @ 563 ppm U(3) O(8)
incl. 2 metres @ 1,160 ppm U(3) O(8)
The drilling at Zona 7 is part of the ongoing exploration
programme across numerous key targets at the Salamanca project.
The drilling beneath Zona 7 complements three holes drilled
earlier this year in which broad, high grade intersections were
reported at up to 14 metres @ 4,481 ppm U3O8 (please refer to
announcement on 27 January 2016).
Managing Director Paul Atherley commented:
"Given the transformational effect the shallow, high grade Zona
7 deposit has had on the project's economics the primary focus of
the current exploration program has been to look for more of the
same. Further high grade intercepts located immediately below Zona
7 are extremely encouraging and point to potential resource upside
at the deposit."
For further information please contact:
Paul Atherley Hugo Schumann Paul Shackleton / Nick
Prowting (Nomad)
Managing Director Corporate Jay Ashfield (Broker)
Manager
+44 207 478 +44 207 478
3900 3900 WH Ireland Limited
info@berkeleyenergia.com +44 207 220 1666
Appendix A: Detailed Results
Drill Programme
A total of 83 reverse circulation ('RC') drill holes for 5,900
metres have been completed to date as part of a programme which was
designed primarily to test for mineralization beneath and to the
southern extension of Zona 7 as well as to test a number of targets
located within a ten kilometre radius of the planned Retortillo
plant.
The majority of holes drilled were spaced 50 metres apart along
each section, with 400 metres spacing between sections.
Analytical data has been received from four of the completed
holes and the results are presented herein, with the remaining
results to be released when received.
A further eight holes will be completed in the coming two
months, all targeting mineralisation below the Zona 7 deposit, and
will be reported once assays have been received.
The drilling programme is part of a strategy aimed at
maintaining annual production at the Salamanca Project at over 4
million pounds a year on an ongoing basis, achieved by converting
some of the 29.6 million pounds of existing Inferred resources into
the mine schedule, as well as extending the resource at Zona 7, and
making new discoveries in the region.
Results
The holes reported herein were drilled through the near-surface
Zona 7 deposit and extended to a maximum end-of-hole depth of 271
metres. The assay results confirm the presence of zones of high
grade mineralisation below Zona 7.
Significant high grade intersections have been recorded near
surface at Zona 7 and at depth (from 3 metres to a maximum depth of
255 metres), with thicknesses up to 26 metres. Selected intercepts
include:
Hole No. Down Hole Intercept From Depth
(Down Hole)
---------- --------------------- -------------
10m @ 635 ppm U(3)
O(8)
incl. 1m @ 2,246
ppm U(3) O(8)
26m @ 1,103 ppm
U(3) O(8)
incl. 4m @ 3,973 30m
ppm U(3) O(8) 39m
2m @ 461 ppm U(3) 43m
O(8) 43m
1m @ 762 ppm U(3) 248m
Z7R-357 O(8) 254m
---------- --------------------- -------------
5m @ 526 ppm U(3)
Z7R-358* O(8) 48m
---------- --------------------- -------------
10m @ 494 ppm U(3)
Z7R-359* O(8) 47m
---------- --------------------- -------------
14m @ 597 ppm U(3)
O(8)
6m @ 457 ppm U(3)
O(8)
4m @ 639 ppm U(3)
O(8)
17m @ 563 ppm U(3)
O(8)
incl. 2m @ 1,160 12m
ppm U(3) O(8) 29m
6m @ 480 ppm U(3) 39m
O(8) 63m
14m @ 1,776 ppm 66m
U(3) O(8) 113m
incl. 8m @ 2,644 207m
Z7R-360 ppm U(3) O(8) 212m
---------- --------------------- -------------
* drill holes failed to reach the target depth due to difficult
ground conditions and were terminated
All significant intersections from completed drilling, along
with the details of the collar position, drill hole orientation and
depth, are summarised in Appendix B.
Geological Setting
Zona 7 is a vein type deposit hosted in a sequence of fine
grained metasediments which are overlain by a conglomerate unit and
adjacent to a granite intrusive. The mineralised envelope is
generally sub-horizontal and the mineralisation is contained within
a stockwork of veins. The uranium mineralisation occurs both within
the partially weathered zone and fresh rock. In the southern
extension the Cenozoic cover ranges between 1 metre and 12
metres.
Competent Persons Statement
The information in this announcement that relates to the
Exploration Results for Zona 7 is based on, and fairly represents,
information compiled by Mr Malcom Titley, a Competent Person who is
a member of the Australasian Institute of Mining and Metallurgy. Mr
Titley is employed by Maja Mining Limited, an independent
consulting company. Mr Titley has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Titley consents to the inclusion in
the report of the matters based on his information in the form and
context in which it appears.
The information in this announcement that relates to the Mineral
Resources is extracted from the announcement entitled 'Study
confirms the Salamanca project as one of the world's lowest cost
uranium producers' dated 14 July 2016, which is available to view
on Berkeley Energia Limited's (Berkeley) website at
www.berkeleyenergia.com.
Berkeley confirms that: a) it is not aware of any new
information or data that materially affects the information
included in the original announcement; b) all material assumptions
and technical parameters underpinning the Mineral Resources,
included in the original announcement continue to apply and have
not materially changed; and c) the form and context in which the
relevant Competent Persons' findings are presented in this
announcement have not been materially modified from the original
announcements.
The information in the original announcement that relates to the
Mineral Resources is based on, and fairly represents, information
compiled or reviewed by Mr Malcolm Titley, a Competent Person who
is a Member of The Australasian Institute of Mining and Metallurgy.
Mr Titley is employed by Maja Mining Limited, an independent
consulting company. Mr Titley has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'.
Forward Looking Statement
Statements regarding plans with respect to Berkeley's mineral
properties are forward-looking statements. There can be no
assurance that Berkeley's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that Berkeley will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
Berkeley's mineral properties.
Appendix B
Summary of RC Drill Intersections- Zona 7 Deep
(200 ppm U(3) O(8) cut-off)
Drill Easting Northing Elevation Azimuth Dip Depth From To Interval U(3)
Hole (m) (m) (m) ((o) ((o) (m) (m) (m) (m) O(8)
ID ) ) (ppm)
---------- -------- --------- ---------- -------- ------ ------ ------ ----- ----- --------- -------
Z7R-357 713955 4527376 755 360 -90 271 30 40 10 635
incl. 39 40 1 2,246
43 69 26 1,103
incl. 43 47 4 3,973
incl. 56 57 1 1,256
incl. 65 66 1 4,928
88 89 1 264
248 250 2 461
254 255 1 762
---------- -------- --------- ---------- -------- ------ ------ ------ ----- ----- --------- -------
Z7R-358* 714044 4527330 764 360 -90 97 38 40 2 539
48 53 5 526
61 62 1 266
---------- -------- --------- ---------- -------- ------ ------ ------ ----- ----- --------- -------
Z7R-359* 714055 4527281 766 360 -90 99 32 34 2 262
39 41 2 312
47 57 10 494
incl. 49 50 1 1,154
91 92 1 433
---------- -------- --------- ---------- -------- ------ ------ ------ ----- ----- --------- -------
Z7R-360 713860 4527196 755 360 -90 251 12 26 14 597
incl. 17 19 2 1,204
incl. 24 25 1 1,117
29 35 6 457
incl. 32 33 1 1,214
39 43 4 639
incl. 42 43 1 1,486
63 80 17 563
incl. 66 68 2 1,160
incl. 70 71 1 1,615
83 92 9 200
113 119 6 480
incl. 116 117 1 1,262
128 130 2 431
136 138 2 323
141 143 2 924
incl. 142 143 1 1,385
157 158 1 381
207 221 14 1,776
incl. 207 210 3 1,004
incl. 212 220 8 2,644
---------- -------- --------- ---------- -------- ------ ------ ------ ----- ----- --------- -------
* drill holes failed to reach the target depth due to difficult
ground conditions and were terminated
Appendix C: JORC Code, 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
================== ========================================= ======================================
Sampling Nature and quality of All results reported are
techniques sampling (eg cut channels, from Reverse Circulation
random chips, or specific (RC) drill samples collected
specialised industry over one metre (1m) intervals.
standard measurement Multiple methods were used
tools appropriate to to determine uranium mineralisation
the minerals under investigation, intervals including down
such as down hole gamma hole gamma analysis, hand
sondes, or handheld XRF held scintillometer measurements
instruments, etc). These and portable XRF analysis.
examples should not be Intervals containing uranium
taken as limiting the mineralisation were selected
broad meaning of sampling. and submitted for laboratory
assay analysis.
========================================= ======================================
Include reference to Standards and blanks are
measures taken to ensure inserted into the sample
sample representivity stream to assess the accuracy,
and the appropriate calibration precision and methodology
of any measurement tools of the external laboratories
or systems used. used. In addition, field
duplicate samples are inserted
to assess the variability
of the uranium mineralisation.
Approximately 15-20% of
all samples relate to quality
control. In addition, the
laboratories undertake their
own duplicate sampling as
part of their internal QA/QC
processes. Examination of
the QA/QC sample data indicates
satisfactory performance
of field sampling protocols
and assay laboratories providing
acceptable levels of precision
and accuracy.
Drill hole collar locations
are surveyed by qualified
surveyors (Cubica Ingeniería
Metrica S.L) using standard
differential GPS (DGPS)
equipment achieving sub
decimetre accuracy in horizontal
and vertical position. Down-hole
surveys are undertaken using
a Geovista down-hole deviation
probe. Measurements are
taken every 1cm down hole
and averaged every 10m.
No strongly magnetic rocks
are present within the deposit
which may affect magnetic
based readings.
========================================= ======================================
Aspects of the determination RC drill samples are collected
of mineralisation that over 1m intervals, manually
are Material to the Public homogenised before being
Report. In cases where split on site using a three
'industry standard' work tier riffle splitter to
has been done this would provide an approximate 3-5kg
be relatively simple sample. In rare cases, wet
(eg 'reverse circulation samples are split using
drilling was used to a cone and quarter method.
obtain 1 m samples from
which 3 kg was pulverised Scintillometer measurements
to produce a 30 g charge are taken on all samples
for fire assay'). In and this data is used to
other cases more explanation select the samples to be
may be required, such sent to external laboratories
as where there is coarse for sample preparation and
gold that has inherent analysis. Indicative mineralised
sampling problems. Unusual intervals are determined
commodities or mineralisation from this data and the sampling
types (eg submarine nodules) extended up and down hole
may warrant disclosure by at least 2-5m.
of detailed information.
Samples are further split
in the core shed using a
scoop such that 0.7-1kg
samples are sent to the
preparation laboratories
of ALS (Seville, Spain)
and analytical laboratory
of ALS (Loughrea, Ireland).
Samples are dried, fine
crushed down to 70% below
2mm, split to obtain 250g
and pulverised with at least
85% of the sample passing
75um. 10g of sample is used
for uranium analysis by
pressed powder X-ray fluorescence
(XRF) method.
================== ========================================= ======================================
Drilling Drill type (eg core, Drilling was by the RC method
techniques reverse circulation, drilling using a 140mm diameter
open-hole hammer, rotary face sampling hammer.
air blast, auger, Bangka,
sonic, etc) and details
(eg core diameter, triple
or standard tube, depth
of diamond tails, face-sampling
bit or other type, whether
core is oriented and
if so, by what method,
etc).
================== ========================================= ======================================
Drill Method of recording and RC drill samples are collected
sample assessing core and chip over 1m intervals through
recovery sample recoveries and a cyclone. Plastic sample
results assessed. bags are strapped to the
cyclone to maximise sample
recovery. Individual sample
bags are not weighed to
assess sample recovery but
a visual inspection is made
by the Company geologist
to ensure all samples are
of approximately equivalent
size.
========================================= ======================================
Measures taken to maximise The RC drilling rigs utilised
sample recovery and ensure suitably sized compressors
representative nature to ensure dry samples where
of the samples. possible. Plastic sample
bags are strapped to the
cyclone to maximise sample
recovery. Sample logs record
whether the sample is dry,
moist or wet.
========================================= ======================================
Whether a relationship There is no known relationship
exists between sample between sample recovery
recovery and grade and and grade. The RC sample
whether sample bias may recoveries are of an acceptable
have occurred due to level and no bias is expected
preferential loss/gain from any sample losses.
of fine/coarse material.
================== ========================================= ======================================
Logging Whether core and chip Geological logging of RC
samples have been geologically chip samples includes recording
and geotechnically logged descriptions of lithology,
to a level of detail weathering, alteration and
to support appropriate mineralisation. A scintillometer
Mineral Resource estimation, reading of counts per second
mining studies and metallurgical (cps) is recorded for each
studies. 1m sample (quantitative).
========================================= ======================================
Whether logging is qualitative Geological logging is qualitative
or quantitative in nature. in nature. RC samples and
Core (or costean, channel, chip trays are photographed.
etc) photography.
========================================= ======================================
The total length and All RC drill holes are logged
percentage of the relevant in full by Company geologists.
intersections logged.
================== ========================================= ======================================
Sub-sampling If core, whether cut Not Applicable - RC drilling
techniques or sawn and whether quarter, only.
half or all core taken.
========================================= ======================================
and sample If non-core, whether RC drill samples are collected
preparation riffled, tube sampled, at 1m intervals. RC intervals
rotary split, etc and are sampled by splitting
whether sampled wet or dry samples in the field
dry. to 3-5kg using a three tier
riffle splitter and further
split in the core shed to
0.7-1kg using a scoop. Where
samples are wet they are
dried prior to spitting.
In rare cases, wet samples
are split using a cone and
quarter method.
========================================= ======================================
For all sample types, Samples are sent to ALS
the nature, quality and laboratories for preparation.
appropriateness of the Samples are dried, fine
sample preparation technique. crushed down to 70% below
2mm and pulverised with
at least 85% of the sample
passing 75um. 10g of sample
is used for uranium analysis
by pressed powder XRF method.
This is considered appropriate
for this style of uranium
mineralisation.
========================================= ======================================
Quality control procedures Previous field tests have
adopted for all sub-sampling determined that the sample
stages to maximise representivity size and method of sampling
of samples. produce representative RC
samples. QA/QC procedures
involve the use of standards,
duplicates and blanks which
are inserted into sample
batches at a frequency of
approximately 15-20%.
========================================= ======================================
Measures taken to ensure Duplicate splits of RC samples
that the sampling is are taken every 10m down
representative of the hole within the sampled
in situ material collected, intervals. The results from
including for instance these duplicates generally
results for field duplicate/second-half show acceptable repeatability.
sampling.
========================================= ======================================
Whether sample sizes The uranium is typically
are appropriate to the very fine grained. Previous
grain size of the material test work carried out by
being sampled. Berkeley using different
sample sizes has demonstrated
that the selected sample
size is appropriate.
================== ========================================= ======================================
Quality The nature, quality and Uranium analysis by pressed
of assay appropriateness of the powder XRF method. This
data assaying and laboratory analytical method reports
and laboratory procedures used and whether total uranium content.
tests the technique is considered
partial or total.
========================================= ======================================
For geophysical tools, Down-hole gamma logging
spectrometers, handheld is undertaken for all probe
XRF instruments, etc, accessible drill holes to
the parameters used in provide eU(3) O(8) ("equivalent"
determining the analysis U(3) O(8) grade) data however,
including instrument it is not currently considered
make and model, reading of sufficient quality to
times, calibrations factors replace chemical assay data
applied and their derivation, for the purposes of reporting
etc. drilling results at Zona
7. The drill intersections
reported in this release
are calculated using only
chemical assay data.
========================================= ======================================
Nature of quality control Standards, blanks and duplicates
procedures adopted (eg are regularly inserted into
standards, blanks, duplicates, the sample stream with approximately
external laboratory checks) 15-20% of all samples related
and whether acceptable to quality control. The
levels of accuracy (ie external laboratories used
lack of bias) and precision also maintain their own
have been established. process of QA/QC utilising
standards, pulp repeats,
sample duplicates and blanks.
Review of the Berkeley quality
control samples, as well
as the external laboratory
quality QA/QC reports, has
shown no sample preparation
issues, acceptable levels
of accuracy and precision
and no bias in the analytical
datasets.
================== ========================================= ======================================
Verification The verification of significant Reported significant intersections
of sampling intersections by either have been checked and verified
and assaying independent or alternative by Senior Geological management.
company personnel.
========================================= ======================================
The use of twinned holes. No twinned holes were drilled
in the current RC drilling
program.
========================================= ======================================
Documentation of primary All primary data is recorded
data, data entry procedures, in templates designed by
data verification, data Berkeley. Assay data from
storage (physical and the external laboratory
electronic) protocols. is received in spreadsheets
and downloaded directly
into an Access Database
managed by the Company.
Data is entered into controlled
excel templates for validation.
The validated data is then
loaded into a password secured
relational database by a
designated Company geologist.
Daily backups of all digital
data are undertaken. These
procedures are documented
in the Berkeley Technical
Procedures and Protocols
manual.
========================================= ======================================
Discuss any adjustment Uranium (ppm) assays received
to assay data. from the external laboratory
are converted to U(3) O(8)
(ppm) using the stoichiometric
factor of 1.179.
================== ========================================= ======================================
Location Accuracy and quality Drill hole collar locations
of data of surveys used to locate are surveyed by qualified
points drill holes (collar and surveyors (Cubica Ingeniería
down-hole surveys), trenches, Metrica S.L) using standard
mine workings and other differential GPS (DGPS)
locations used in Mineral equipment achieving sub
Resource estimation. decimetre accuracy in horizontal
and vertical position.
Down-hole surveys are undertaken
using a Geovista down-hole
deviation probe. Measurements
are taken every 1cm down
hole and averaged every
10m. No strongly magnetic
rocks are present within
the deposit which may affect
magnetic based readings.
========================================= ======================================
Specification of the The grid system is ETRS
grid system used. 1989 UTM Zone 29N.
========================================= ======================================
Quality and adequacy Topographic control is based
of topographic control. on a digital terrain model
with sub metric accuracy
sourced from the Spanish
Geographical Institute (Instituto
Geográfico Nacional)
and is verified through
detailed drill hole collar
surveys by a qualified surveyor
using a DGPS.
================== ========================================= ======================================
Data Data spacing for reporting This RC drilling program
spacing of Exploration Results. has been designed to cross
and distribution significant mineralization.
========================================= ======================================
Whether the data spacing The data spacing is not
and distribution is sufficient considered sufficient to
to establish the degree assume geological and grade
of geological and grade continuity, and will not
continuity appropriate allow the estimation of
for the Mineral Resource Mineral Resources on deep.
and Ore Reserve estimation
procedure(s) and classifications
applied.
========================================= ======================================
Whether sample compositing No compositing of RC samples
has been applied. in the field has been undertaken.
================== ========================================= ======================================
Orientation Whether the orientation Shallow parts of the deposit
of data of sampling achieves show that the mineralised
in relation unbiased sampling of zone strikes northeast-southwest
to geological possible structures and and is interpreted to be
structure the extent to which this sub-horizontal (due to post
is known, considering mineralisation supergene
the deposit type. processes) to shallowly
dipping.
========================================= ======================================
If the relationship between All of the RC drill holes
the drilling orientation reported in this release
and the orientation of are vertical. Due to the
key mineralised structures interpreted flat lying nature
is considered to have of the mineralisation, no
introduced a sampling sampling bias is considered
bias, this should be to have been introduced
assessed and reported by the orientation of the
if material. drilling.
================== ========================================= ======================================
Sample The measures taken to Chain of custody is managed
security ensure sample security. by Berkeley. Samples are
transported from the drill
site by Company vehicle
to a sample preparation
shed where samples are prepared
for dispatch. Samples are
sent directly from the sample
preparation shed to the
laboratory using a certified
courier or a Berkeley owned
vehicle authorised for radioactive
materials transport. No
other freight is transported
with the samples which are
taken directly from the
Berkeley facility to the
external laboratory. Sample
submission forms are sent
in paper form with the samples
as well as electronically
to the laboratory. Reconciliation
of samples occurs prior
to commencement of sample
preparation for assaying.
================== ========================================= ======================================
Audits The results of any audits Sampling techniques and
or reviews or reviews of sampling procedures, as well as QA/QC
techniques and data. data, are reviewed internally
an ongoing basis. Mr Malcolm
Titley (Geology Consultant,
Maja Mining Limited) has
independently reviewed the
sampling techniques, procedures
and data. He has undertaken
a site visit to review and
inspect the application
of procedures. These reviews
have concluded that the
sampling and analytical
results have resulted in
data suitable for incorporation
into Mineral Resource estimation.
================== ========================================= ======================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria JORC Code explanation Commentary
================== ================================= ======================================
Mineral Type, reference name/number, The Zona 7 Prospect lies
tenement location and ownership on the Alisos Investigation
and land including agreements Permit PI 6605-20 which
tenure or material issues with is 100% owned by Minera
status third parties such as de Río Alagón,
joint ventures, partnerships, a wholly owned subsidiary
overriding royalties, of Berkeley Energia Limited.
native title interests,
historical sites, wilderness The Alisos Investigation
or national park and Permit is currently in the
environmental settings. first year of its third
three year term and will
expire on 5 January 2017.
No historical sites, wilderness
or national parks are located
within the Permit. The Zona
7 Prospect is located adjacent
to the village of Villavieja
de Yeltes.
=============================== ======================================
The security of the Tenure in the form of an
tenure held at the time Investigation Permit has
of reporting along with been granted and is considered
any known impediments secure. There are no known
to obtaining a licence impediments to obtaining
to operate in the area. a licence to operate in
this area.
==================== =============================== ======================================
Exploration Acknowledgment and appraisal Previous exploration at
done by of exploration by other Zona 7 was completed initially
other parties. by Junta de Energía
parties Nuclear (JEN) and then Empresa
Nacional de Uranio S.A.
(ENUSA), both Spanish state
run companies, from the
late 1950's through to the
mid 1980's. Work completed
by JEN and ENUSA included
mapping, radiometric surveys,
trenching and diamond (DD)
and open-hole (OH) drilling.
A detailed data assessment
and verification of the
historic data supplied by
ENUSA has been undertaken.
No significant issues with
the data were detected.
==================== =============================== ======================================
Geology Deposit type, geological The uranium mineralisation
setting and style of is hosted within Lower Cambrian
mineralisation. metasediments adjacent to
granite. The mineralisation
typically occurs as a sub-horizontal
to shallowly dipping layer
occurring between surface
and 100m depth, although
mineralisation has been
recorded to a maximum depth
of 255m in the current RC
holes. The style of the
uranium mineralisation includes
veins, stockwork and disseminated
mineralisation in joint/fracture
filling associated with
brittle deformation. Uraninite
and coffinite are the primary
uranium minerals. Secondary
uranium mineralisation is
developed in "supergene-like"
tabular zones corresponding
to the depth of weathering.
Most of the mineralisation
is hosted within partially
weathered and unweathered
metasediment. This deposit
falls into the category
defined by the International
Atomic Energy Association
(IAEA) as Vein Type, Sub
Type Iberian Type.
==================== =============================== ======================================
Drill A summary of all information Details of all reported
hole Information material to the understanding drill holes are provided
of the exploration results in Appendix B of this release.
including a tabulation
of the following information
for all Material drill
holes:
o easting and northing
of the drill hole collar
o elevation or RL (Reduced
Level - elevation above
sea level in metres)
of the drill hole collar
o dip and azimuth of
the hole
o down hole length and
interception depth
o hole length.
=============================== ======================================
If the exclusion of All of this information
this information is is Material and has been
justified on the basis included in Appendix B of
that the information this release.
is not Material and
this exclusion does
not detract from the
understanding of the
report, the Competent
Person should clearly
explain why this is
the case.
==================== =============================== ======================================
Data aggregation In reporting Exploration Reported drill intersections
methods Results, weighting averaging are based on chemical assay
techniques, maximum data and are calculated
and/or minimum grade using a 200ppm U(3) O(8)
truncations (eg cutting cut-off, no high grade cut,
of high grades) and and may include up to 2m
cut-off grades are usually of internal dilution.
Material and should
be stated.
=============================== ======================================
Where aggregate intercepts High grade intervals that
incorporate short lengths are internal to broader
of high grade results zones of uranium mineralisation
and longer lengths of are reported as included
low grade results, the intervals.
procedure used for such
aggregation should be
stated and some typical
examples of such aggregations
should be shown in detail.
=============================== ======================================
The assumptions used No metal equivalent values
for any reporting of are used.
metal equivalent values
should be clearly stated.
==================== =============================== ======================================
Relationship These relationships All drilling is planned
between are particularly important in such a way as to intersect
mineralisation in the reporting of expected mineralisation
widths Exploration Results. in a perpendicular manner.
and intercept If the geometry of the The uranium mineralisation
lengths mineralisation with is interpreted to be flat
respect to the drill lying to shallowly dipping
hole angle is known, so the majority of the RC
its nature should be holes have been drilled
reported. vertically. The reported
down-hole intervals are
therefore interpreted to
approximate true widths.
=============================== ======================================
If it is not known and The reported down-hole intervals
only the down hole lengths are interpreted to approximate
are reported, there true widths.
should be a clear statement
to this effect (eg 'down
hole length, true width
not known').
==================== =============================== ======================================
Diagrams Appropriate maps and Appropriate diagrams, including
sections (with scales) a drill plan and cross sections,
and tabulations of intercepts are included in the main
should be included for body of this release.
any significant discovery
being reported These
should include, but
not be limited to a
plan view of drill hole
collar locations and
appropriate sectional
views.
==================== =============================== ======================================
Balanced Where comprehensive All results are reported
reporting reporting of all Exploration in Appendix B of this release.
Results is not practicable,
representative reporting
of both low and high
grades and/or widths
should be practiced
to avoid misleading
reporting of Exploration
Results.
==================== =============================== ======================================
Other Other exploration data, Down-hole gamma logging
substantive if meaningful and material, of all holes is undertaken
exploration should be reported including to provide eU(3) O(8) data.
data (but not limited to): Prior comparisons of eU(3)
geological observations; O(8) data with chemical
geophysical survey results; assay data have shown that
geochemical survey results; on average eU(3) O(8) tends
bulk samples - size to underestimate at higher
and method of treatment; grades (>600ppm) and overestimate
metallurgical test results; at lower grades (<100ppm).
bulk density, groundwater, Accordingly, the eU3O8 data
geotechnical and rock is not considered of sufficient
characteristics; potential quality to replace chemical
deleterious or contaminating assay data for the purposes
substances. of reporting drilling results.
The drill intersections
reported in this release
are calculated using only
chemical assay data.
==================== =============================== ======================================
Further The nature and scale Further work planned for
work of planned further work the Zona 7 Prospect includes
(eg tests for lateral additional drilling will
extensions or depth be focused on extending
extensions or large-scale the mineralisation further
step-out drilling). deep and infilling the current
grid to facilitate future
upgrading of the resource
classification.
=============================== ======================================
Diagrams clearly highlighting These are shown in the main
the areas of possible body of this release.
extensions, including
the main geological
interpretations and
future drilling areas,
provided this information
is not commercially
sensitive.
==================== =============================== ======================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLBIGDCDUGBGLS
(END) Dow Jones Newswires
September 05, 2016 02:00 ET (06:00 GMT)
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