The Resource Estimate includes 51.9-million pounds of ‘Indicated’ total rare earth oxides (TREO) and an additional 96.3-million pounds of ‘Inferred’ TREO.
These resources are in addition to 15.2-million pounds of Indicated uranium oxide (U3O8) and an additional 31.4-million pounds of Inferred U3O8.
Eco Ridge is owned 100% by First Canadian Uranium, a wholly owned subsidiary of Pele Mountain Resources.
Pele president and CEO Al Shefsky said that the company’s next priority at Eco Ridge is the completion of an updated NI 43-101 Preliminary Assessment (PA), which is expected in the second quarter of 2011.
"The PA will feature a detailed economic model based on combined revenues from U3O8 and REO and will include significant mining, processing, and waste management design enhancements achieved since our initial 2007 Scoping Study," Shefsky said.
Eco Ridge is located within a mining camp with historic production exceeding 300 million pounds of U3O8.
