U3O8 Begins Drill Program on Berlin Project, Colombia

Canadian-based company, U₃O₈ has announced that a 20,000 m drill campaign is ongoing on the Berlin project in Colombia.

The goal of the drill program is to infill drill a potential target with 20 to 25 mlb of uranium, vanadium, phosphate, rare earth metals, and other metals. This target is located north of the National Instrument 43-101 resource in Berlin. The drill program also aims to define the entire size potential of the Berlin deposit.

The company has outlined a National Instrument 43-101 resource of 1.5 mlb uranium Indicated and 19.9 mlb uranium of Inferred resources; 0.8 Mt phosphate; and 97 mlb vanadium on 3 km of the Berlin trend.

The National Instrument 43-101 resource indicates that there may be an abstract uranium target of 9-10 Mt at 0.09% to 0.11% U₃O₈ grade on a further 2 km of the Berlin trend and a prospective target of 32-36 Mt at 0.09% to 0.11% U₃O₈ grade on the total 10.5 km trend. In the north of the Berlin resource region, exploration was inadequate to delineate a mineral resource, and it is doubtful if additional exploration will result in more mineral resources on the property.

U₃O₈’s President and CEO, Dr. Richard Spencer stated that in view of the huge size potential and the worth of the combined commodities, the Berlin Project is emerging into a company-maker for U₃O₈. Most importantly, the value of the commodities that exist along with the uranium can be easily obtained from the ore. The company has extracted 97% of the phosphate and uranium, 96% of the yttrium, 82% of the neodymium, and 79% of the vanadium.

Spencer added that the prior data had indicated that Berlin is a black shale deposit, which makes it difficult to extract metals. Recently a Master of Science study, headed by uranium expert Professor Kurt Kyser and carried out by Andres Caceres at Canada’s Queen's University, has confirmed that Berlin is a remobilized, stratabound uranium deposit.

Source: http://www.u3o8corp.com/

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