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Vimy Resources Ltd.
Summary
| Project: | Alligator River | |
|---|---|---|
| Deposit: | Angularli | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 3/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-3-2018: Vimy Resources Ltd. announces a Resource Estimation report for its Angularli deposit at the Alligator River project. Initial mineral resource estimate for Alligator River project. Vimy Resources Limited (ASX:VMY) is pleased to announce that it | |
| Resources: | (Resource, Inf.): 0.91Mt @ 1.29% U3O8 for 25.9Mlbs U3O8 contained at deposit | |
| CP/QP: | [Resources]: Ian Glacken (Optiro Pty Ltd.) | |
| ABSTRACT: | Vimy Resources Limited (ASX:VMY) is pleased to announce that it has completed a maiden Mineral Resource estimate for the Angularli deposit, the most advanced of many prospects in its newly acquired Alligator River Project (ARP) in Arnhem Land, Northern Territory. For more details on the acquisition from Cameco Australia Pty Ltd (Cameco), please refer to the announcement to the ASX dated 1 March 2018. The Angularli deposit is located within the King River-Wellington Range project, which has 1,600km2 of granted tenure and is being actively explored for unconformity-related uranium deposits. The King River-Wellington Range project is the subject of a Joint Venture (JV) with Rio Tinto Exploration Pty Limited (Rio Tinto), a wholly owned subsidiary of Rio Tinto Ltd, with current JV interests of Vimy: 75% / Rio Tinto: 25%. During due diligence for the ARP acquisition, Vimy commissioned an independent JORC Mineral Resource estimate by Optiro Consultants. The maiden Inferred Mineral Resource (Table 1) contains approximately 26Mlbs U3O8 for 0.91Mt at 1.3% U3O8, at a cut-off grade of 0.15% U3O8 (Vimy 75%). | |
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