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By: Esmarie Swanepoel

 

JOHANNESBURG (miningweekly.com) – ASX- and Aim-listed Albidon and joint-venture partner (JV) Africa Energy would decide in the second quarter of 2009, whether or not to restart the bankable feasibility study (BFS) at the Chirundu uranium project, in Zambia.

 

Albidon said on Tuesday that it would take about six months to complete the entire study from the restart date.

 

In October, the JV partners announced that they would suspend some aspects of the BFS owing to the deteriorating market conditions and commodity prices.

 

However, the partners decided to continue updating the mineral resources to measured and indicated categories, to proceed with the metallurgical test work programme to design the process flow sheet, and to continue the assessment of mining options as planned.

 

The pre-feasiblity study, which was completed last year, showed that commercially viable mining of uranium from the Chirundu JV was possible, under the projected uranium price, capital cost and operation scenarios.

 

The JV comprised two uranium deposits, Njame and Gwabe.

 

Albidon reported on Tuesday that that diamond drilling at the at the Gwabe uranium deposits continued to deliver good assay results, as part of the resource infill drilling programme.

 

Assay results from the Gwabe infill drilling continued to demonstrate ore grades and thickness of uranium mineralization, and have highlighted a core zone of sub horizontal mineralization, which averaged about 8 m in true thickness, from an average debt of 16 below surface.

 

Editor: Mariaan Webb

 

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