Monday 26th August 2019

Resource Clips


Posts tagged ‘tanzania’

Athabasca Basin and beyond

June 15th, 2013

Uranium news from Saskatchewan and elsewhere for June 8 to 14, 2013

by Greg Klein

Next Page 1 | 2

Cameco’s Cigar Lake granted mining licence

With production slated for Q4, Cameco Corp TSX:CCO got the final go-ahead to mine Cigar Lake uranium on June 13. The Canadian Nuclear Safety Commission issued the mining licence following a 1990s environmental assessment, a stalled construction phase and a one-day public hearing. “The licensed facilities include underground mine workings accessed by two mine shafts, a surface load-out facility, waste management systems, a mine water management system and associated site facilities,” the CNSC stated. Cameco expects jet-boring to begin this summer.

The world’s second-largest known high-grade uranium deposit, Cigar Lake’s bounty holds:

  • proven reserves of 233,600 tonnes averaging 22.31% uranium oxide (U3O8) for 114.9 million pounds U3O8
  • probable reserves of 303,500 tonnes averaging 15.22% for 101.8 million pounds.

Those reserves give Cigar Lake a 15-year lifespan. With full production expected in 2018, it’s expected to give up 18 million pounds annually.

Cameco’s Cigar Lake granted mining licence

A Cameco crew installs freeze pipes at Cigar Lake
to protect against seeping water and leaking radiation.

The peak of construction could employ up to 500 workers, while production would require about 250 people. Jet-boring will extract the highly radioactive material using water pressure to carve underground caverns and push an ore slurry to underground grinding and thickening circuits, then to surface. The ground first must be frozen to prevent water seepage and radiation leakage. Processing will take place at the McClean Lake mill, 69 kilometres away.

Construction actually began in 2005. But the project hit delays due to flooding in 2006 and 2008. Cameco finally dewatered the workings in 2010 and restored the underground infrastructure the following year.

Located near Waterbury Lake on the Athabasca Basin’s eastern margin, Cigar Lake is a four-way joint venture in which project operator Cameco holds 50.025%, AREVA Resources Canada 37.1%, Idemitsu Canada Resources 7.875% and TEPCO Resources 5%. Another JV, the McClean Lake mill is held 70% by operator AREVA, 22.5% by Denison Mines TSX:DML and 7.5% by OURD Canada.

Pele Mountain increases Eco Ridge inferred U3O8 136%, REO 130%

Replacing a previous uranium-rare earths resource in the project’s July 2012 preliminary economic assessment, Pele Mountain Resources TSXV:GEM released a June 10 update for its Eco Ridge project in Elliot Lake, Ontario. The resource now shows:

  • an indicated category of 22.74 million tonnes averaging 0.045% U3O8 and 1,606 parts per million total rare earth oxides for 22.55 million pounds U3O8 and 80.51 million pounds REO, or 49.83 million pounds U3O8-equivalent
  • an inferred category of 36.56 million tonnes averaging 0.047% U3O8 and 1,554 ppm REO for 37.62 million pounds U3O8 and 125.25 million pounds REO, or 81.84 million pounds U3O8-equivalent.

The inferred numbers represent a 130% increase in total REO and a 136% jump in U3O8. The indicated category rose 10% in both REO and U3O8. The update shows “substantial increases in critical REO resources including neodymium, dysprosium, yttrium, terbium and europium oxides, as well as in scandium oxide resources,” the company stated.

Pele Mountain added that two higher-grade zones start at surface, which could allow higher-grade production during the first years of mining.

Working in Elliot Lake between 1956 and 1996 Rio Algom, later incorporated into BHP Billiton, and Denison produced over 300 million pounds of U3O8 and significant quantities of yttrium and heavy REO from deposits similar to that of Eco Ridge, Pele Mountain stated. The mining camp is about 160 kilometres west of Sudbury.

Aldrin increases resolution of PLS-area airborne geophysics

Aldrin Resource TSXV:ALN will add infill lines to an airborne geophysics survey already underway over the Patterson Lake South area. Announced June 12, the decision will increase resolution from 200-metre to 100-metre spacing over conductive anomalies found on the company’s 12,001-hectare Triple M property. Aldrin interprets the anomalies as linear basement conductors over three kilometres long, parallel to a magnetically defined fault.

The company holds a 70% option on Triple M, which sits nine kilometres south and 11 kilometres west of the PLS discovery. High-grade, near-surface results from the Alpha Minerals TSXV:AMW/Fission Uranium TSXV:FCU 50/50 JV excited interest in the area in and around the Basin’s southwestern rim. The helicopter-borne VTEM magnetic and electromagnetic survey already underway is a joint project that’s flying contiguous properties held by Aldrin, Athabasca Nuclear TSXV:ASC (formerly Yellowjacket Resources TSXV:YJK), Forum Uranium TSXV:FDC and Skyharbour Resources TSXV:SYH. Lucky Strike Resources TSXV:LKY and Noka Resources TSXV:NX each hold a 25% earn-in option on Skyharbour’s properties.

Aldrin stated the infill lines will help locate drill targets for early winter 2014.

Next Page 1 | 2

Tanzanian reports Tanzania Gold Assays including 9.2 g/t over 11m

May 2nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningTanzanian Royalty Exploration Corporation TSX:TNX announced assays from its Buckreef Gold Project in Tanzania. Results include

9.61 g/t gold over 2 metres (including 18.1 g/t over 1 metre)
1.36 g/t over 19 metres (including 4.75 g/t over 1 metre)
1.23 g/t over 6 metres
9.2 g/t over 11 metres

Chairman/COO Joseph Kahama stated, “These higher-grade zones can add considerable value to the project economics and increase the potential to add to our future growth profile. Drilling to date on the deeper Buckreef extensions has validated the geological interpretation and that the current drilling program is progressing well.”

View Company Profile

Contact:
David Duval
Investor Relations
800.811.3855

by Ted Niles

Canaco receives BCSC Hearing Notice, responds

April 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN responded to the British Columbia Securities Commission (BCSC) regarding its notice of hearing alleging that in December 2010 the President/CEO and three other directors of Canaco voted to approve the exercise price of stock options before publicly disclosing assay results from the Magambazi Claim of its Handeni Project in Tanzania. Canaco maintains that the drill results were not material and that this opinion has been validated by independent reviewers, including Micon International Ltd.

Canaco President/CEO Andrew Lee Smith commented, “The staff of the BCSC is proposing to rewrite the rules for determining materiality in a way we believe is unfair, contrary to the public interest and damaging for junior mining companies subject to BC jurisdiction. We intend to oppose that effort and defend ourselves vigorously.”

View Company Profile

Contact:
Canaco Resources Inc
Director, Investor Relations
604.488.2557

by Ted Niles

Tanzanian Royalty reports Tanzania Gold Assays as high as 6.27 g/t over 21m

April 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningTanzanian Royalty Exploration Corporation TSX:TNX announced results from its Buckreef Gold Project in northern Tanzania. Assays include

1.54 g/t gold over 3 metres
2.67 g/t over 12 metres (including 7.34 g/t over 2 metres)
1.53 g/t over 5.5 metres
2.66 g/t over 4 metres (including 9.99 g/t over 1 metre)
1.6 g/t over 23 metres
6.27 g/t over 21 metres (including 14.27 g/t over 6 metres)
4.27 g/t over 5 metres (including 8.31 g/t over 2 metres)

Chairman/COO Joseph K. Kahama stated, “[The results are] quite exceptional by historical standards and supportive of management’s belief that we are dealing with an essentially new gold discovery that will show its true merits in the coming months. While much more drilling remains to be done, our initial assessment is that we are seeing the emergence of a new gold discovery whose depth potential is reminiscent of at least one existing, long-life gold deposit in Tanzania. We are pulling out all the stops to assess this new discovery given its potential to boost our gold resource base along with the overall grade tenor for the Buckreef deposit which would obviously impact the economic assessment that is currently underway for Buckreef, not to mention the feasibility study that will follow immediately thereafter.”

View Company Profile

Contact:
Tanzanian Royalty Exploration Corporation
604.536.7873

by Ted Niles

Tanzanian Royalty reports Tanzania Gold Assays including 10.58 g/t over 19m

April 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningTanzanian Royalty Exploration Corporation TSX:TNX announced assays from its Buckreef gold project in the Lake Victoria Goldfields, Tanzania. Results include

10.58 g/t gold over 19 metres (including 25.97 g/t over 5 metres)
1.75 g/t over 14 metres
1.49 g/t over 4 metres
4.5 g/t over 26 metres (including 17.6 g/t over 4 metres)

Chairman/COO Joseph Kahama remarked, “With the current exploration program focused on testing the upside potential in the deeper levels of the Buckreef deposit, we expect to increase our knowledge regarding the continuity and grade of these zones. We also expect to further increase the confidence level we have in the Buckreef gold project, lending support to increasing our resource base and leaving additional potential in mineralized zones below a vertical depth of 200 metres which remains largely untested.”

View Company Profile

Contact:
Investor Relations
604.536.7873

by Ted Niles

Canaco reports Tanzania Gold Assays up to 3.9 g/t over 59.4m

March 16th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN announced assays from its Magambazi gold project in Tanzania. Results include

6.26 g/t gold over 12.6 metres (including 11 g/t over 6.3 metres)
3.98 g/t over 59.4 metres (including 12.13 g/t over 7.7 metres)
11.54 g/t over 5.6 metres
5.27 g/t over 29.3 metres (including 13.03 g/t over 8.4 metres)

Magambazi is one of two contiguous claims forming the Handeni Gold Project. Canaco has an option to acquire a 100% interest in Magambazi subject to payments of US$180,000 over two years for exploration rights and $1.8 million to acquire a 100% interest subject to a 2% NSR.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Results up to 5.37 g/t Gold over 43.4m

February 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: Effective April 9, 2013, Canaco Resources Inc began trading as Orca Gold Inc TSXV:ORG.)

Canaco Resources Inc TSXV:CAN announced assays from its Magambazi Gold Project in Tanzania. Highlights include

5.37 g/t gold over 43.4 metres
(including 9.37 g/t over 19.6 metres)
2.9 g/t over 12.5 metres
(including 9.77 g/t over 2.8 metres)
1.56 g/t over 19 metres
(including 2.92 g/t over 5.5 metres)
1.85 g/t over 17.6 metres
(including 6.24 g/t over 2.8 metres)
3.36 g/t over 6 metres
3.18 g/t over 5.6 metres

Magambazi is one of two contiguous claims forming the Handeni Gold Project. Canaco has an option to acquire a 100% interest in Magambazi subject to payments of US$180,000 over two years for exploration rights and $1.8 million to acquire a 100% interest subject to a 2% NSR. Canaco owns 100% of the Kilindi claim.

View Company Profile

Contact:
Meghan Brown
IR Director
604.488.2557
866.488.0822

by Greg Klein

Canaco reports Tanzania Gold Assays including 2.01 g/t over 21m

December 5th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningCanaco Resources Inc TSXV:CAN announced drill results from the Magambazi gold discovery of its Handeni project in Tanzania. Highlights include

4.05 g/t gold over 8 metres
12.67 g/t over 5 metres
1.19 g/t over 16.4 metres
2.01 g/t over 21 metres
2.74 g/t over 11 metres
8.84 g/t over 8.3 metres
4.78 g/t over 13 metres (including 12.71 g/t over 4.4 metres)
2.8 g/t over 7 metres
5.76 g/t over 7 metres (including 18.18 g/t over 2.1 metres)
2.8 g/t over 23.8 metres

Canaco owns 100% of the Handeni Project. The Magambazi claim is owned 100% by Magambazi Mines Company Ltd. Canaco has an option to acquire a 100% interest in the claim by paying $180,000 over two years for the rights to explore and $1.8 million to acquire a 100% interest subject to a 2% NSR.

View Company Profile

Contact:
Meghan Brown
Director, Investor Relations
604.488.2557

by Ted Niles

Canaco reports Tanzania Assays up to 14.75 g/t Gold over 11m

November 3rd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningCanaco Resources Inc TSXV:CAN announced results from the Magambazi gold discovery of its Handeni Project in Tanzania. Highlights include

14.75 g/t gold over 11 metres
(including 56.16 g/t over 2.8 metres)
2.99 g/t over 24.5 metres
(including 6.48 g/t over 4.2 metres)
16.29 g/t over 4 metres
2.23 g/t over 24.5 metres
(including 8.11 g/t over 2.4 metres)
1.23 g/t over 29 metres
(including 3.12 g/t over 4.2 metres)
10.33 g/t over 3.5 metres

President/CEO Andrew Lee Smith remarked, “These most recent drill results represent steady progress on the infill drill program and give us confidence that the Western Lodes have the potential to contribute significant additional value to the Magambazi mineralized system.”

View Company Profile

Contact:
Meghan Brown
Investor Relations
604.488.2557

by Greg Klein

MDN reports Tanzania Gold Results as high as 8.6 g/t over 19.3m

October 17th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMDN Inc TSX:MDN announced assays from its Ikungu Project in Tanzania. Results include

8.6 g/t gold over 19.3 metres
24.54 g/t over 3.8 metres
13.22 g/t over 5.3 metres
11.5 g/t over 5.9 metres
3.11 g/t over 12.4 metres
9.63 g/t over 4 metres
3.39 g/t over 9.2 metres

MDN holds the project in co-ownership with Lakota, with MDN able to earn up to a 70% interest.

MDN President/CEO Serge Bureau commented, “Systematic drilling on a tighter drill grid could lead to a resource estimate if we focus our next program on these four lenses. We are now in the process of designing the drilling program and are carrying out surveying and topographical work and preparing the work camp on the property to be in a position to continue exploration as of early 2012.”

View Company Profile

Contact:
MDN Inc
Serge Bureau
President/CEO
514.866.6500 x 221

or Marc Boisvert
VP of Exploration
514.866.6500 x 227

by Greg Klein