The company’s decision follows the recent announcement from the Queensland Government to recommence uranium mining in the state.
Minister for Natural Resources and Mines Andrew Cripps stated that the known $10bn worth uranium deposits in Queensland can significantly support economic growth in the region.
The Ben Lomond mining leases hold an NI43-101 compliant resource containing indicated resource of 1.33 million tonnes at 0.27% U3O8 (7.9 Mlbs U3O8) and an inferred resource of 0.6 million tonnes at 0.21% U3O8 (2.8 Mlbs U3O8).
Mega Uranium has initiated prefeasibility studies at Ben Lomond to explore project economics and determine steps for mine development.
Meanwhile, the company’s Georgetown prospect hosts uranium properties including Maureen with a NI43-101 compliant resource comprising an indicated resource of 3.12 million tonnes at 0.09% U3O8 (5.95 Mlbs U3O8) and an inferred resource of 0.15 million tonnes at 0.11% U3O8 (0.38Mlbs U3O8).
