The company’s flagship Daejon Project contains an inferred resource of 65.0Mlbs at a grade of 320ppm eU3O8, representing the largest uranium resource in South Korea.
Approval for the project was obtained following the receipt of land access agreements in July 2012, enabling the company to develop access roads to begin an initial 12 hole diamond drill program at the project.
Commenting on the approval Stonehenge chairman Richard Henning stated, "There have been a number of administrative hurdles to overcome in securing this approval, however, we are pleased that we can now work on the Daejon project with the support of the local Government, and we look forward to accelerating our progress."
The approval also allows Stonehenge to finalize the details of the drill program that seeks to confirm historical uranium drill results through twinning and upgrade the uranium resource to the next category and establish a maiden vanadium resource.
