Berkeley Resources Limited Infill Drilling and Commencement of Permitting (9323S)
14 7월 2015 - 3:00PM
UK Regulatory
TIDMBKY
RNS Number : 9323S
Berkeley Resources Limited
14 July 2015
BERKELEY RESOURCES LIMITED
AIM RELEASE | 14 JULY 2015 | ASX/AIM:BKY
INFILL DRILLING AND COMMENCEMENT OF PERMITTING AT ZONA 7
-- Infill and Extension drilling at Zona 7 well advanced.
-- Program designed to upgrade the Zona 7 resource from the
Inferred to the Indicated category and to test extensions to the
existing mineralisation.
-- Permitting to incorporate the development of Zona 7 resource
into existing development plans have commenced.
Berkeley Resources Limited (Berkeley or the Company) is pleased
to announce that an infill drilling programme at the Zona 7 deposit
is well advanced with results expected to be released next month
followed by an upgraded mineral resource estimate in September.
The 101 hole 6,500 metre infill programme is designed to upgrade
the Inferred Mineral Resource estimate (MRE) of 30.1 million pounds
of U(3) O(8) (23.2 million tonnes averaging 589 ppm at a cut-off
grade of 200 ppm) to the Indicated category.
The programme is also testing for extensions to the
mineralisation both along strike to the southwest and along the
western boundary.
Recent studies have defined Zona 7 as a shallow, high grade
deposit of significant scale located 10 km from the proposed
processing facility at Berkeley's Salamanca Project. The
incorporation of the Zona 7 resource into the Definitive
Feasibility Study is well underway and will be completed once the
upgraded MRE has been finalised.
Given the positive impact the Zona 7 resource is expected to
have on the Salamanca Project's overall economics, the Company has
decided to push ahead with the preparation of the core documents to
start the permitting of Zona 7, which will be submitted in the
fourth quarter of 2015
The Salamanca Project permitting program is now well advanced,
with the Mining Licence and the Environmental Licence already
granted and the applications for the remaining permits lodged with
the relevant authorities.
For further information contact:
Paul Atherley Hugo Schumann John Prior / Paul
Gillam
Managing Director Corporate Manager Numis Securities
Nomad & Broker
+44 207 478 3900 +44 207 478 3900 +44 207 260 1000
info@berkeleyresources.com.au
Competent Persons Statement
The information in this report that relates to the Mineral
Resources for Zona 7 is extracted from the report entitled
'Salamanca Project Total Resource increased by 43% to 88.2 Mlbs
U(3) O(8) following substantial increase in Zona 7 Resource' dated
26 November 2014 and is available to view on Berkeley's website at
www.berkeleyresources.com.au. The information in the original ASX
Announcement that relates to the Mineral Resources for Zona 7 was
based on information compiled by 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'. The Company confirms
that it is not aware of any new information or data that materially
affects the information included in the original market
announcement and, in the case of estimates of Mineral Resources
that all material assumptions and technical parameters underpinning
the estimates in the relevant market announcement continue to apply
and have not materially changed. The Company confirms that the form
and context in which the Competent Person's findings are presented
have not been materially modified from the original market
announcement.
Forward Looking Statement
Statements regarding plans with respect to the Company's mineral
properties are forward-looking statements. There can be no
assurance that the Company's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that the Company 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
the Company's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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