A revised resource estimate for the Dominion uranium-gold project in South Africa shows a substantial increase in tonnage along with a decrease in grade.
Owner SXR Uranium One (SXR-T, SXRFF-O) reports an indicated resource of 26 million tonnes grading 0.083% U3O8 and 1.1 gram gold per tonne in four zones at the property. Another 178 million tonnes grading 0.051% U3O8 and 0.63 gram gold per tonne is inferred.
The new results reflect both additional drilling and a decreased cutoff grade (which varies from zone to zone). Higher uranium and gold prices have allowed the company to push cutoff grades down.
The results will be incorporated into a final feasibility study currently under way, which is expected in July. Assuming a positive production decision based on the study, Dominion could be in production by early 2007.
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