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Updated 16 June 2008
Uran Limited has lodged three applications for exploration licences over a number of known uranium deposits in Bulgaria
Uran lodged applications for two exploration permits over the Pravoslaven, Tristilnik, Manole and Belozem uranium deposits near the Maritsa River east of Plovdiv region of central Bulgaria. These deposits occur within the flat-lying Thracian sedimentary basin, within poorly-cemented Pliocene sandstones and siltstones. Uranium mineralisation occurs at the redox boundary, typically at depths of 60 to 250 metres in depth, in the form of ningyoite, coffinite and uranophane. Similar deposits in the region have been previously extracted by In-Situ Leaching.
The exploration target for these projects is 4,000 to 5,000 tonnes of contained U3O8, based on previous drilling by Bulgarian state uranium mining bodies. At this stage Uran has not reviewed the geological data and has not carried out a due diligence on these mineral properties. Therefore Uran considers the reported range of U3O8 content as conceptual by nature, and it is uncertain that Uran will be able to determine a Mineral Resource.
An application for an exploration permit over the Tenevo-Okop area, east of Pravoslaven, was also lodged. This application covers a number of uranium deposits in the Thracian Basin to the east of Pravoslaven, with an exploration target of 850 to 1,200 tonnes of contained U3O8 based on previous drilling by Bulgarian state uranium mining bodies. Mineralisation in this area is thought to be less well-defined than those of the Pravoslaven area, with greater potential to expand the mineralisation through exploration. However, Uran has not reviewed the geological data and has not carried out a due diligence on these mineral properties. Therefore Uran considers exploration target as conceptual by nature, and it is uncertain, that Uran will be able to determine a Mineral Resource.
Applications for exploration permits over mineralisation considered by the Bulgarian Government to constitute mineral reserves must go through a tender process prior to grant. This process will apply to these applications.
Bulgaria Uranium Deposits
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