The highlights of the report are: 21% increase in Measured & Indicated Resources from 89.2Mlbs to 107.7Mlbs U3O8 at an average grade of 208ppm U3O8; 40% increase in Inferred Resources from 37.4Mlbs to 52.4Mlbs U3O8 at an average grade of 197ppm U3O8; 67% of the total resource estimate is in the Measured & Indicated categories; two thirds of the total resource estimate is located within 200 metres of surface; increased mineral resource for the Oshiveli deposit comprising Indicated Resources of 12.4Mlbs U3O8 and Inferred Resources of 8.3Mlbs U3O8. Inaugural mineral resource for the Onkelo deposit comprising Inferred Resources of 20.2Mlbs U3O8.
In addition, the mineral resource estimate has been prepared for Bannerman in accordance with the Australian JORC Code guidelines and Canadian National Instrument 43-101 by Coffey Mining, an independent geological consultant to Bannerman.
Len Jubber, CEO of Bannerman, said: “This substantial increase in the mineral resource estimate continues to elevate the Etango deposit in the ranking of globally significant uranium deposits. The 5km long mineral resource at Etango occurs over a broad width and at shallow depth with approximately two thirds of the resource located within 200 metres from surface. Bannerman is continuing with resource extension drilling and is also well advanced with a feasibility study into an open pit uranium mining operation at Etango.”
