Following a positive preliminary economic assessment prospective rare earth oxides and uranium oxide were identified at Eco Ridge.
Pele expects to add up to 20 million tonnes of inferred resource through step-out drilling to the northwest and west of the existing resource.
The deposit presently contains indicated resources of 20,514t at 0.045% U3O8 and inferred resources of 16,906 at 0.043 U3O8.
Pele president and CEO Al Shefsky noted that adding resources at Eco Ridge is compliant with the company’s goal to extend the mine life and improve projected economics.
"We have also worked diligently for several months to optimize the processing circuit and we expect to provide updates on our progress in the coming weeks," Shefsky noted.
Eco Ridge’s mineral resources display considerable potential for upgrade and expansion as well as potential to add new resources in areas beyond the resource wireframe.
