PERTH (miningweekly.com) - Uranium miner Paladin Energy was set to launch an exploration programme at its Aurora uranium assets, in Canada, after the Nunatsiavut government amended laws to lift a moratorium on uranium mining and development on Labrador Inuit Lands.
Paladin holds five deposits within the Labrador Inuit Lands, through its subsidiary Aurora Energy. The deposits are estimated to host some 15.1-million pounds of uranium oxide measured resources and 68.7-million pounds of inferred resources across six deposits.
Drilling was expected to start in the third quarter of the 2012 calendar year, and would focus on infill and extension drilling of the Michelin uranium deposit. Expansion of the current resource base was expected both by drilling and within the current deposit perimeter, where significant areas remained untested and extensions along strike.
Paladin said in a statement that clearance would also be sought for the reopening of the Michelin adit, constructed by British Newfoundland Exploration (Brinex), in order to obtain samples for metallurgical purposes and to better understand the continuity of the mineralisation and the geological setting of the deposit.
Previous exploration by Brinex and Aurora demonstrated the high prospectivity of the claim package beyond the Michelin area, Paladin said, adding that there were several high priority areas that required ground-based geophysical surveys and geological mapping, as well as reassessment of existing drilling data in order to identify new drill targets.
This work would be carried out in tandem with the drilling at Michelin.