The addition of reserves for its South Inkai and Karatau uranium projects has seen the Kazakhstan reserves of Uranium One increase by 400%.
The company’s total attributable proven and probable reserves in Kazakhstan now stand at 47.08 million pounds U3O8 with Karatau contributing 14.6 million attributable probable pounds and South Inkai 23.6 million attributable proven and probable pounds. Both were first reserve estimates and are NI 43-101 compliant.
There has also been a 12% increase in attributable indicated resources at Karatau to 32.6 million pounds and a 373% increase in attributable inferred resources to 9.5 million pounds.
The updated Karatau resource estimate incorporates new drilling information from 45,277 metres of drilling from an additional 67 holes that were not included in the previous estimate as at November 2007.
A portion of the indicated resources has been converted to a probable reserve by assuming a 90% well field recovery rate.
In addition to the indicated and inferred resources, there is significant potential to increase the mineral resource base. Exploration drilling indicated potential in the range of 20 million to 28 million tonnes grading 0.071% to 0.118% U3O8, containing 41.6 to 57.2 million pounds.
The South Inkai estimate was completed in order to conduct an independent assessment of mining reserves at the deposit to demonstrate the appropriate equivalence under NI 43-101. In the updated resource estimate, a small amount of indicated resource was upgraded to the measured category.
The estimate included proven reserves of 0.9 million pounds and probable reserves of 22.7 million pounds.
Uranium One is one of the world’s largest publicly traded uranium producers, with a portfolio of assets in Kazakhstan, the United States, South Africa and Australia.