Published: December 17, 2018 |

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Vimy Resources Ltd has received a positive scoping study for the Angularli uranium deposit at the Alligator River project in the Northern Territory, prompting the company to progress to the next stage.

The study by Wood PLC provides a -20 +40 percent capital and operating estimate for the process plant and associated infrastructure.

TME Mining Consultants developed the capital and operating cost estimate for the underground mine design.

TWO FLOWSHEET OPTIONS ARE VIABLE

Metallurgical test work completed at the Australian Nuclear Science and Technology Organization (ANSTO) confirms that two flowsheet options are technically viable.

This also found that the yellowcake product generated from metallurgical test work meets converter specifications.

Vimy Managing Director and CEO Mike Young said: “The high-grade nature of the Angularli deposit provides us with the opportunity to develop a Tier One asset, with the potential to be profitable in any uranium market.

“Given the prospectivity of the Angularli deposit and recent encouraging drilling results at the nearby Such Wow prospect, I’m confident the Angularli area will grow to become a significant part of our project portfolio.

“Notwithstanding that the resource is still at the inferred status, the scoping study itself has been completed to a very high standard and the board agrees that the results merit further work.”

DRAWS ON NABARLEK APPROACH

The study draws on the approach to mining carried out at Nabarlek uranium mine, 65 kilometers south of Angularli, which operated between 1980 and 1988.

Nabarlek produced 2 million pounds of U3O8 at an average grade of 1.84 percent and serves as a good proxy for Angularli.

Owing to its very high grade, Nabarlek was completely mined out in one dry season using open pit mining with ore stockpiled on the surface and processed over an eight-year period.

At Angularli, it is proposed that underground mining would be undertaken over about 36 months after a pre-production mine development period of around 12 months.

Remaining open stopes would be used for tailings paste backfill and the surface stockpile of mined material would be processed over a similar period to Nabarlek.

OPPORTUNITIES TO ENHANCE PROJECT

The study identified a number of opportunities to further enhance the project.

Ore sorting trials will be undertaken to evaluate the potential to increase the head grade to the processing plant and allow a reduction in the mine cut-off grade.

The stope backfilling approach will also be further considered.

Further resource drilling will be carried out to improve the confidence of the existing mineral resource,  which remains open at depth and requires further exploration drilling to locate down dip extensions.

Exploration drilling at Angularli West will test potential targets identified during the 2018 exploration field season.

Source: Proactive Investors

About Vimy Resources
Vimy Resources Ltd is listed on the Australian Securities Exchange.

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