Black Range Minerals Limited (ASX:BLR) Positive Evaluation of Borehole Mining - Hansen U3O8 Deposit

Black Range Minerals Limited (ASX:BLR) recently engaged Kinley Exploration LLC (Kinley) in Kansas, USA, to complete a detailed preliminary technical and economic evaluation of mining the Hansen Uranium Deposit using an engineered hydraulic borehole mining technology. Kinley's study indicates that Borehole Mining could be a low cost method of mining the Hansen Uranium Deposit. Probable mine operating costs have been estimated at US$27/lb U3O8 including cemented backfill but excluding processing costs (See Table in Link below).

Kinley's evaluation included the assessment of the Hansen Deposit's geotechnical and geological parameters, to develop a suitable approach for extracting the mineralised material. This work indicated that a single borehole mining unit could produce approximately 500,000lbs of U3O8 per annum. Production rates could be readily increased by concurrently operating multiple borehole mining units. This methodology could provide the Company with an environmentally protective and economically feasible approach to mining without the need for large infrastructure or open excavation (see full release in link below).

"The result of this preliminary evaluation indicates that Borehole Mining could be an alternative method of mining the Hansen Deposit" Mr Simpson, Managing Director of Black Range, stated. "Previous feasibility studies for both open pit and underground mining methods are currently being updated. However these results are very encouraging and the Borehole Mining technique has many advantages over conventional mining methods. These advantages include:

- environmentally protective;
- low capital requirements;
- low operating costs;
- small surface impact;
- selective, high-grade mining if required; and
- high mining recoveries.

Following receipt of these very encouraging initial results, Black Range will further evaluate the use of Borehole Mining in conjunction with Kinley, who are experts and pioneers in this method of mining.
Simpson went on to say: "Borehole Mining could make a good fit with ablation technology and we will continue to evaluate this combination. Ablation could also be applied to any conventional mining method. But the combination of these two technologies could result in a very economic and environmentally friendly alternative for Black Range."

Full announcement:
Link: http://media.abnnewswire.net/media/en/docs/ASX-BLR-577795.pdf


About Black Range Minerals Limited

Black Range Minerals Limited (ASX:BLR) is an Australian Stock Exchange-listed company focused on growth through acquisition, exploration and development of resources projects.

The Company is focused on advancing the high-grade Taylor Ranch/Hansen Uranium Project in Colorado, USA towards production.

The 100% owned Taylor Ranch Uranium Project contains JORC Code compliant indicated and inferred resources of more than 60 million pounds of U3O8. Immediately adjacent is the Hansen Uranium Project, which the Company recently secured exclusive rights to acquire a 100% interest in. The combined assets comprise one of the largest uranium projects within the USA.

The Company is constantly assessing other investment opportunities, including the acquisition of additional quality projects in the resources sector.

 

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Black Range Minerals Limited