Plateau Uranium releases estimate on Macusani deposits in Peru

Plateau Uranium said on Monday that it has begun the process of updating the Preliminary Economic Assessment (PEA) of its Macusani Plateau uranium projects in Peru.

The PEA report said the projects' consolidated resources are estimated to contain 95.19 million tons of uranium, with grading at 248 parts per million (PPM) of U308, equal to 51.9 million pounds. The inferred amount is reported at 130.02 million tons at 251 PPM, equivalent to 72.1 million pounds of U308. U308 refers to a natural state of uranium ore.
"We are excited to have started work on updating the PEA for the Macusani Plateau projects, with our now-larger and more robust resource base," Plateau Uranium CEO Ted O'Connor said. "This next major milestone is expected to provide for improved project economics and will enhance Plateau Uranium's position as a future source of low-cost uranium production in the mining-friendly jurisdiction of Peru. The consultants chosen, GBM and Wardell Armstrong, have global expertise, with deep, prior knowledge and direct experience with the company's projects in Peru. This will enhance the PEA delivery timing and costs, and we look forward to working with them."

The company said the report is only an estimate and does not indicate actual mineral reserves. It also said the report should not be considered an early feasibility study.

"We believe that the uranium market is in the early stages of its inevitable long-term recovery, and we are positioning Plateau Uranium to capitalize on this anticipated recovery," O'Connor said.

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