honeymoon uranium project
Black Range, Uranium One will come together in U.S.
Editor: From: miningnews Click? 52 Date: 2009-01-04 11:46:22
href = "http://www.cnmining.org/news/?id=976"> URANIUM hope Black Range Minerals has partnered with Canadian miner Uranium One to develop their prospects yellowcake America in Colorado.
The two companies have signed a letter of intent on the joint development of Perth-based Black Range Taylor Ranch project and the project next door for Hansen, where uranium One has an option to acquire a stake of 39.2% in their mineral rights.
Another 51% of mineral rights in the area are also for sale, and Black Range uranium, and is jointly pursue the majority of rights.
Black today said the outlook range Hansen hosted a series of uranium deposits in the same mineralized trend that deposits so far traced to Taylor Ranch.
The junior Australia has identified three JORC compliant resources in Taylor Ranch, including grading 0.058% 9.3Mlb uranium deposit in Northern 9.1Mlb grading 0.057% uranium deposit in the North West 16.2Mlb classification of 0.065% uranium in the deposit of Boyer.
Hansen was drilled by the explorers of the past that defines a housing deposit about 30 million pounds of uranium at around 0.08% of uranium, said Black Range.
The deal, if it goes ahead, Uranium One will have a 60% stake in the venture, while Black will hold 40% range.
Once the participation majority in the draft Hansen is tied, the two companies to negotiate a definitive JV.
Black Range, which has 10 million dollars in cash, it last traded at 0.7c largest stock exchange in Australia 3.9C, an increase of 22%.
Uranium One is based in Toronto and is mining uranium in Kazakhstan and project development Honeymoon Well in South Australia.
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