Drill programme targeting Zona 7 extension resumes

RNS Number : 0625B

Berkeley Energia Limited

14 June 2016

 

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 14 June 2016  

Two rigs are on-site testing extensions to the Zona 7 deposit and Las Eras, a new target located five kilometres to the north of Zona 7.

The Zona 7 deep drilling programme, which comprises a total of twelve 250 metre deep holes, is designed to test the continuity of, and potential extensions to, the high grade mineralisation intersected in previous drilling.

Outstanding intercepts included 48 metres @ 1,018 ppm U3O8, 19 metres @ 1,753 ppm U3O8, 14 metres @ 4,481 ppm U3O8 and 11 metres @ 1,105 ppm U3O8 (refer to announcement dated 27 January 2016).

A further fifteen holes will be drilled to the south of Zona 7, in order to test for extensions to the deposit in an area where a number of intersections have previously been reported (refer to announcement dated 16 February 2016).

The Las Eras target was subject to previous drilling by JEN, a Spanish state owned entity, and a number of broad, near surface high grade intersections similar to those reported in Zona 7 were documented in historical records but never followed up. The detailed data supporting this drill information is no longer available.

This information, when combined with the geological setting, the recently reinterpreted geophysical data and a large radiometric anomaly has however provided the basis for the high priority ranking of this target.

Eleven shallow holes to a depth of 80 metres have been scheduled at Las Eras to follow up the previous results and to test the broad radiometric anomaly covering the target area.

Managing Director Paul Atherley commented:

"The Zona 7 deposit has transformed the economics of the Salamanca project and provided the basis for us to commence development. This 38 hole drill programme follows up recent high grade intersections at Zona 7 and a new target Las Eras, located just five kilometres to the north, testing for high grade ore which can be added to the mine schedule."

For further information please contact:

Paul Atherley                        Hugo Schumann

Managing Director                 Commercial Manager

[phone]                   [phone]

[e-mail]

Competent Persons Statement

The information in this report that relates to the 2016 Exploration Results for Zona 7 is extracted from the announcement entitled 'High grades intersected immediately below Zona 7 deposit' dated 27 January 2016, which is available to view on Berkeley's website at www.berkeleyenergia.com. The information in the original ASX announcement is based on, and fairly represents, information compiled by Mr Malcolm Titley, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Titley is employed by Maja Mining Limited, an independent consulting company. Mr Titley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Berkeley confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. Berkeley confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

Forward Looking Statement

Statements regarding plans with respect to the Company's mineral properties are forward-looking statements. There can be no assurance that the Company's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that the Company will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company's mineral properties.

 

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