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PERTH (miningweekly.com) – Uranium hopeful Energia Minerals has placed a price tag of A$105.2-million on the Carley Bore project, in Western Australia.
The ASX-listed junior reported on Tuesday that a scoping study on the Carley Bore deposit found that the project could produce about 8.1-million pounds of uranium oxide (U3O8) over an initial six-year mine life, with yearly production placed at 1.4-million pounds of U3O8.
Based on the six-year mine life, the Carley Bore project could deliver life-of-mine sales revenue of A$559-million, while total cash costs have been estimated at around $32.62/lb.
MD Kim Robinson said on Wednesday that the scoping study result was a positive outcome for the Carley Bore project and a milestone for the company, giving the board confidence in the potential of the deposit to underpin a robust uranium project.
“We can now proceed to the next phase of Carley Bore’s development – a pivotal component of which will be conducting a field leach trial in 2015, which, if successful, would progress to a full feasibility study.”
Robinson noted that in preparation for the field leach trial, an in-fill rotary mud drilling campaign would be carried out during the September quarter of this year, with the objective of locating suitable sites.
A secondary objective of this programme would be to define more accurately high-grade roll fronts within the deposit.
“Conversion of the exploration licences to a mining lease will also be advanced as a priority, as will the start of baseline environmental and further hydrogeological studies,” Robinson said.
The Carley Bore deposit currently hosts a mineral inventory of 14.2-million tonnes, at 370 parts per million U3O8, for 11.5-million pounds of contained U3O8.