Further high grade intercepts below Zona 7
Exploration joint venture discussions underway
Berkeley Energia has announced additional high grade intersections below the exceptional Zona 7 deposit at its 100% owned Salamanca mine in Western Spain.
The discovery of Zona 7 in 2014 transformed the economics of the Salamanca mine and this outstanding deposit will generate some of the lowest operating costs in the world once production commences at the end of next year.
Results from the final holes drilled in the current programme through the near-surface Zona 7 deposit have reported grades consistent with, or higher than, the average grade of the Zona 7 resource. This continuity of mineralisation beneath the current defined resource is extremely encouraging and indicates a potential resource upgrade.
The Company will conduct additional drilling and resource estimation work at Zona 7 aimed at increasing the mineral resource estimate and unlocking further value in this high grade deposit.
The orebodies currently being developed cover just 7% of the Company’s 1,160km² landholding within a highly prospective uranium region which remains largely underexplored.
Given the Company’s current focus on construction, discussions have commenced with strategic partners to fund an exploration joint venture, which would bring additional resources to extend the mine life or expand production.
Managing Director Paul Atherley commented:
“These high grade intercepts immediately below Zona 7 are extremely encouraging and point to a potential resource upgrade, indicating that there could be still more upside to come from the Salamanca mine.
We are also excited about the potential to introduce an exploration joint venture partner who can draw on significant technical and financial resources and work with us to unlock the full potential of our 1,160km² landholding within this highly mineralised province.”
To read the full announcement please click here.
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