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Mega Uranium Ltd.: Removal of the Uranium Mine Development Ban in Western Australia - Mega's 23.7 million pounds U3O8 Lake Maitland project is the most advanced in Western Australia - The project is on schedule to be in production at an initial rate of 1.65 million pounds U3O8 per year in 2011 TORONTO, ONTARIO, Sep 15, 2008 (MARKET WIRE via COMTEX News Network) -- Mega Uranium Ltd. (TSX: MGA) ("Mega") is pleased to report the favorable outcome of the Western Australia State election, which has resulted in the incumbent Labor Party government, which opposed uranium mining, being replaced by an alliance of the Liberal Party and National Party. As the two parties forming the new State Government both have policies that favor new uranium mine development, there is no longer any political impediment to the development of Mega's 23.7 million pounds U3O8 Lake Maitland project. Lake Maitland, located in the Eastern Goldfields region 108 kilometers southeast of Wiluna, is Western Australia's most advanced uranium project. It is likely to be the first uranium resource to get into production in the State due to the following favorable factors: - Its location in the vicinity of operating mines with good access to infrastructure including roads, airstrips and a major gas pipeline (Figure 1). - As shown in Figure 2, the resource occurs in the form of a single, coherent layer, only 1-2 meters from surface, which is conducive to simple, low cost open pit mining. Due to the soft nature of the ore and overburden, drilling and blasting will not be required. - Metalurgical testwork to date indicates satisfactory uranium recoveries greater than 90%. - There are no Native Title or environmental issues that would unduly delay development. In its news release of April 7 2008, Mega provided an update on its prefeasibility studies of Lake Maitland. Since then, Mega has made considerable progress in resource infill and extension drilling, metallurgical testwork, environmental and radiological studies, evaluations of development and processing options and assessment of infrastructure requirements. The results of this work will be reported in news releases to be issued in the coming weeks. Overall, Mega is on schedule to develop a mine and commission a plant in 2011 with an initial production capacity of 750 tonnes (1.65 million pounds) U3O8 per year. Stewart Taylor, Mega's President and Qualified Person under NI43-101, is responsible for this release and has verified the contents disclosed. |
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| aus der Diskussion: | MEGA URANIUM LTD. (MGA.TO): JAMES DINES TOP PICK |
| Autor (Datum des Eintrages): | 2014 (15.09.08 20:32:25) |
| Beitrag: | 123 von 217 (ID:35118268) |
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