Plateau Uranium reports 95% Uranium recovery from the Uranium-rich surface mineralization at the Falchani Discovery
January 03 2018 - 7:30AM
Plateau Uranium Inc. (“
Plateau Uranium” or the
"
Company") (TSX-V:PLU) (OTCQB:PLUUF)
(FRANKFURT:QG1), a Uranium and Lithium development company, is
pleased to announce the first metallurgical test result from the
leaching of the uranium-mineralized rhyolites occurring at surface
from the Falchani discovery at its Macusani Plateau lithium/uranium
project in Peru. The work was completed by TECMMINE, a Peruvian
metallurgical consulting company based in Lima, Peru, and was
reviewed by Grenvil Dunn of Hydromet (Pty) Ltd.
("
Hydromet"). The test work was conducted to
determine the mineralogical and metallurgical characteristics of
the uranium-bearing rhyolites and if they are similar at Falchani
to those from the Company’s existing uranium resources and deposits
in the north-eastern part of the project area.
Highlights
- Leaching of 95% uranium using sulphuric acid at ambient
temperatures of 20°C for 6 hours. Simple flowsheet identical to
leach options used in 2016 Preliminary Economic Assessment
(‘PEA’).
- Initial results exceed previous work used in 2016 PEA for
existing uranium deposits (88% U recoveries) providing excellent
upside for future Falchani processing options.
- Thick, potential higher uranium grades intersected from initial
drill results at Falchani of 511-633 ppm U3O8 are 1.5 to 2 times
existing resources used in 2016 PEA (289 ppm U3O8), which will
improve potential processing footprint and lower throughput.
- Falchani uranium mineralization is located immediately at
surface, suggesting enhanced economic potential of the Falchani
discovery relative to the 2016 PEA where an average stripping ratio
of 2:1 was used and LOM mining costs represented 67% of the
potential production costs, estimated to be $17.28/lb U3O8
produced.
- The lithium-rich Falchani tuff unit mineralization averages
3,500 ppm Li (0.75% Li2O), is located deeper in the section and is
uranium poor (averaging 10-15 ppm U), so was not considered for
uranium extraction in this work. Lithium-rich mineralization
remains open in all directions, and at depth.
- Drilling and test work continues at Falchani and additional
results will be released when available.
Ted O’Connor, CEO of Plateau Uranium
commented: “This initial leach test result from the
uranium-rich Falchani rhyolite is extremely positive. The
higher-grade Falchani surface uranium mineralization leaches better
than our existing uranium deposits under the same low temperature
acid leach conditions, which is exciting, and could lead to lower
production cost potential – improving on our already robust
uranium-only PEA numbers.
"Adding the excellent uranium results with the
discovery of very high-grade, deeper lithium mineralization that is
distinct and separate from the thick surface uranium mineralization
and the simple and effective lithium leach results we are
demonstrating, makes Falchani a very exciting new discovery for the
Company.”
DetailsA single leach test was
conducted on a sample of mineralized rhyolite from Falchani
drilling with 310 ppm U3O8 and 345 ppm Li. The sample was milled to
80% passing 150 microns and leached at atmospheric pressure, and
ambient temperature of 20°C with sulphuric acid over 6 hours in a
standard bottle roll test.
The test work achieved a uranium extraction of
95% at an estimated acid consumption of 20 kg/t. This very high
uranium extraction to the aqueous phase in the initial leach test
program is very encouraging and additional leach and precipitation
test work on the Falchani uranium-rich rhyolite is planned.
Qualified PersonsMr. Grenvil
Dunn, Pr Eng (RSA), C Eng (UK), FIChE, MSAIMM, MSAIChE of Hydromet
Pty Ltd, an independent technical consultant to the Company, is a
Qualified Person as defined under National Instrument 43-101
Standards of Disclosure for Mineral Projects, and has reviewed and
approved the scientific and technical information contained in this
release.
About Hydromet Pty
LtdHydromet Pty Limited is an international consulting
company for the metals and mining industry. The company is based in
South Africa and was established in 2000 by its director Grenvil
Dunn. Mr. Dunn is a Chemical Engineer with over 45 years of
experience, particularly in mineral processing, flow sheet design
and development with direct experience in uranium and lithium.
About Plateau
UraniumPlateau Uranium Inc. is a Canadian uranium and
lithium exploration and development company focused on its
properties on the Macusani Plateau in southeastern Peru. The
Company controls all reported uranium resources known in Peru,
significant and growing lithium resources and mineral concessions
covering over 91,000 hectares (910 km2) situated near significant
infrastructure. Plateau Uranium is listed on the TSX Venture
Exchange under the symbol 'PLU', quoted on the OTCQB under the
symbol “PLUUF” and the Frankfurt Exchange under the symbol 'QG1'.
The Company has 64,227,151 shares issued and outstanding.
Forward Looking InformationThis
news release includes certain forward-looking statements concerning
possible expected results of exploration and future exploration
activities. Forward-looking statements are frequently identified by
such words as "may", "will", "plan", "expect", "anticipate",
"estimate", "intend" and similar words referring to future events
and results. Forward-looking statements are based on the current
opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including risks and
uncertainties relating to the interpretation of drill results, the
geology, grade and continuity of mineral deposits; the possibility
that any future exploration, development or mining results will not
be consistent with our expectations; mining and development risks,
including risks related to accidents, equipment breakdowns, labour
disputes (including work stoppages and strikes) or other
unanticipated difficulties with or interruptions in exploration and
development; the potential for delays in exploration or development
activities; risks related to commodity price and foreign exchange
rate fluctuations; risks related to foreign operations; the
cyclical nature of the industry in which we operate; risks related
to failure to obtain adequate financing on a timely basis and on
acceptable terms or delays in obtaining governmental approvals;
risks related to environmental regulation and liability; political
and regulatory risks associated with mining and exploration; risks
related to the certainty of title to our properties; risks related
to the uncertain global economic environment; and other risks and
uncertainties related to our prospects, properties and business
strategy, as described in more detail in Plateau Uranium’s recent
securities filings available at www.sedar.com. Actual events or
results may differ materially from those projected in the
forward-looking statements and Plateau Uranium cautions against
placing undue reliance thereon. Neither Plateau Uranium nor its
management assume any obligation to revise or update these
forward-looking statements.
Neither 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.
For
further information, please contact: |
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Plateau Uranium
Inc. |
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Website: |
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www.plateauuranium.com |
Ted O’Connor, CEO |
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Facebook: |
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www.facebook.com/plateauuranium/ |
ted@plateauuranium.com |
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Twitter: |
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www.twitter.com/plateauuranium/ |
+1-416-628-9600 |
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info@plateauuranium.com |
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