Results of this initial program will help define and plan subsequent drilling to be done in 2009 and early 2010. The complete program will total about 14,000 meters.
The objective of the program will be to continue expanding the Kuriskova resource, to upgrade a significant portion of the inferred resource to the indicated category, to increase the overall grade of the deposit and to provide subsurface geotechnical and hydrogeological data to be used for engineering design. The resulting updated resource estimate will provide the basis for the reserve estimate in the Kuriskova project pre-feasibility study Tournigan intends to begin shortly.
The first holes to be drilled are step-out holes adjacent to a high-grade portion of indicated resource in Kuriskova’s Main Zone. Drill holes near the boundary of this zone intercepted high-grade uranium mineralization (LH-K-10A: 6.5 meters @ 2.16% U3O8; LH-K-12A: 2.35 meters @ 1.38% U3O8; and LH-K-14A: six meters @ 0.79% U3O8) which remains open and appears to be getting shallower to the northeast. The initial holes will test for extensions to this mineralization; subsequent step-out drilling in this zone will be planned to test for further extensions if initial results warrant.
The currently defined Kuriskova resource, disclosed in a news release dated February 24, 2009, is 14.65 million pounds U3O8 at 0.558% U3O8 indicated and 17.90 million pounds U3O8 inferred at 0.215% U3O8 using a cut-off of 0.05%U (SRK Consulting US).
The deposit remains open along strike and at depth. Several exploration targets have been identified in the immediate area of the currently defined resource (see map). These could represent extensions to the known mineralization and/or satellite uranium deposits and will be tested during this and the next phases of drilling.
