Cue Resources Ltd. Receives Positive Pump Test Results at the San Antonio Uranium Deposit
13 Aprile 2011 - 3:00PM
Marketwired
Cue Resources Ltd. (TSX VENTURE: CUE) ("Cue" or the "Company") is
pleased to announce positive results from the recently completed
pump test on the Company's San Antonio uranium deposit, at the Yuty
Project, in Paraguay. Based on the aquifer properties and recovery
and injection rates, along with previously reported successful
metallurgical testing (see release dated March 17, 2009), these
results indicate that the uranium at San Antonio can be extracted
using the ISR (In Situ Recovery) process.
"These results met our expectations, by confirming previous
laboratory testing, and support our efforts to advance the project
as an in situ recovery operation," stated Chris Healey, P.Geo,
& Director. "We have demonstrated that lixiviant (a liquid
medium used to selectively extract uranium from ore bodies) can be
pumped through the aquifer at commercial rates allowing excellent
retention time for the lixiviant to contact the uranium and aid in
an efficient extraction process."
The purpose of the pump test was to determine the properties of
the sandstone that hosts the aquifer and the uranium deposit.
Previously reported laboratory testing indicated that the aquifer
has similar properties to several commercial in situ leach uranium
operations in the Powder River Basin in Wyoming.
The test was carried out by pumping water out of one well, and
observing the drawdown and the rate of recovery in seven
surrounding wells, for a total of six days (one day pre-pumping
monitoring, two days of pumping and three days of recovery). The
results show connection between the pumping well and each
monitoring well, even to the farthest well at a distance of
157m.
The transmissivities calculated from the aquifer test by the
straight-line method ranged from 2.3 to 6.7m(2)/day, with an
average of 3.7m(2)/day. The average hydraulic conductivity based on
the aquifer thickness of 46m (151 ft) was computed from the average
transmissivity and is 0.07m/day (0.25 ft/day). This hydraulic
conductivity is comparable to hydraulic conductivities at several
commercial ISR projects in the Powder River Basin in Wyoming.
The field work, data analysis and reporting were carried out by
Hydro Engineering LLC of Casper, Wyoming.
Summary of Aquifer Properties
---------------------------------------------------------------------------
factor
Distance for
from Transmissivity Cooper & Jacob trans-
Pumping ---------------------- ------------------------ ducer
Well Theis Transmissivity Storage drawdown
--------- ------------- recovery -------------- Co- and
Well m ft m2/day gpd/ft (gpd/ft) gpd/ft m2/day efficient recovery
---------------------------------------------------------------------------
371T132 - - - - 136 136 - - 1.02
---------------------------------------------------------------------------
1001 17.7 58 1.62 130 179 185 2.3 2.30E-04 1.04
---------------------------------------------------------------------------
1072 18.3 60 2.6 209 233 273 3.39 4.30E-04 1.07
---------------------------------------------------------------------------
1005 47.9 157 2.7 217 272 249 3.09 1.10E-04 1.05
---------------------------------------------------------------------------
1087 62.2 204 4.18 336 310 296 3.68 6.00E-04 1.04
---------------------------------------------------------------------------
1011 113 371 16.2 1304 1100 # # # -
---------------------------------------------------------------------------
1006 32.6 107 2.88 232 242 220 2.73 9.90E-04 -
---------------------------------------------------------------------------
1003 34.9 111 6.18 497 529 489 6.08 2.90E-04 -
---------------------------------------------------------------------------
Average: 285 3.54 2.00E-04
-----------------------------------
Note: # = did not calculate because time was not large enough for this
method
The Company also announces that David McAdam has joined Cue
Resources as chief financial officer and Christina Boddy as
corporate secretary. Mr. McAdam is an experienced CFO, with
transformation and operational experience in the mining sector and
internationally. Mr. McAdam has held various senior financial and
operational positions ranging from CFO of start-up companies listed
on the TSX Venture Exchange through to vice-president operations
and finance director of a Fortune 150 company based in Houston,
Tex. Ms. Boddy is a member of the Canadian Society of Corporate
Secretaries and has worked with several public and privately held
companies across varied industries.
Mr. McAdam is replacing Jon Lever as CFO, and Ms. Boddy replaces
June Hamilton as corporate secretary, effective April 1, 2011. Cue
wishes to thank Mr. Lever and Ms. Hamilton for their
contributions.
Chris Healey, P.Geo, a Director of Cue Resources, is the
qualified person responsible for the technical content of this
release.
San Antonio Deposit
The San Antonio Deposit consists of a current NI 43-101
compliant resource, Indicated, 9.0M tonnes @ 0.042% eU3O8
containing 8.3M lbs eU3O8 and an Inferred Resource of 1.1M tonnes @
0.050% eU3O8 containing 1.2M lbs eU3O8. Column leach tests have
demonstrated recovery of up to 86% of the contained uranium from
cores taken from San Antonio.
About Cue Resources
Cue Resources Ltd. is focused on developing the Yuty Uranium
District in south-eastern Paraguay. For detailed information,
please see the Cue web site at http://www.cue-resources.com.
On behalf of the Board of Directors
Robert S. Tyson, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Nicola Street Capital Inc. Mark Prosser Investor
Relations 604-568-2080 mark@ns-cap.com
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