TIDMBKY
RNS Number : 6265D
Berkeley Resources Limited
25 March 2011
25(th) March, 2011
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
Salamanca Uranium Project
Substantial Drilling Program Commenced to Test New Exploration
Targets
The Directors of Berkeley (The Company) are pleased to announce
the commencement of a substantial programme of reverse circulation
(RC) and diamond drilling to test a number of high priority
exploration targets in close proximity to the resource areas at
Aguila, Alameda, Villar and Retortillo.
RC drilling has commenced on the highest priority target in the
Alameda area which was identified by Berkeley following a complete
review of the historical exploration prospects and incorporating
the results of a special study undertaken by the University of
Salamanca. This six month study has significantly upgraded the
exploration potential of the Salamanca Uranium Project (SUP) and
has identified 10 high priority targets that will be tested in 2011
with a substantial programme of exploration, including more than
12,000m of RC and diamond drilling. Importantly, most of these
targets are in close proximity to existing deposits. In addition,
there is significant potential to extend the existing resources at
the Sageras, Alameda South, Alameda North and Villar deposits.
Continuing work with the University of Salamanca specialists
will include highly prospective areas in proximity to the satellite
Retortillo deposit, where a further 1,500m of exploration drilling
is planned in 2011.
Acting Managing Director Henry Horne commented on the startup of
exploration drilling: "The results of the collaboration study with
the University Of Salamanca have confirmed the near mine
exploration potential in the Salamanca region. We are committed to
an extensive, fully funded exploration programme in 2011 and are
confident that we will be able to increase our resource base close
to the planned mining activities."
Enquiries - Acting Managing Director: Henry Horne Tel: +34 923
193 903
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881
Exploration in 2011
The completion of the confirmatory and resource upgrade drilling
at the Sageras, Palacios North and Alameda South deposits in 2010,
provided valuable new geological information. During the last six
months, Berkeley geologists have worked with the University of
Salamanca to apply this knowledge to studies aimed at generating
new exploration targets within the State Reserves and contiguous
Berkeley tenements.
The first stage of this programme has now been completed with
highly encouraging results. It involved detailed mapping of the
entire western Salamanca Province, an area of over 500 km(2) which
includes the majority of the known uranium mineralisation
occurrences, by a team of specialist structural geologists from the
University of Salamanca, under the direction of Professor Jose
Ramon Martinez Catalan.
The new stratigraphic interpretation highlights the strong
lithological and structural controls on the location of existing
deposits and points to an array of new targets for detailed ground
follow up and drill testing. It has also influenced the
prioritisation of other targets previously identified by the
Company.
As a result, the Company has committed to a substantial
programme of field work and drilling in 2011 with a minimum of
7,000m RC drilling allocated to testing five high priority targets.
Field work has already commenced and willfocus on identifying new
deposits in close proximity to the proposed operations. In
addition, the potential for additional mineralisation has been
identified at the Sageras, Alameda South, Alameda North, and Villar
deposits where a total of 3,000m of RC drilling and 1,000m of
diamond drilling is planned.
The collaboration with the University of Salamanca has been
extended to include detailed structural studies on drill core and
within deposits to refine targeting criteria. The methodology will
also be extended to the Retortillo area to assist in better
targeting of highly prospective areas under cover, with drill
testing planned later in 2011.
Examples of target areas are described below, with the highest
priority being the Mimbre target immediately along strike from the
substantial Alameda South deposit.
Alameda Area Exploration
Uranium mineralisation at Alameda is hosted within basement
metasediments running parallel to the main granite intrusion. It is
concentrated in a cluster of deposits located within a 5km long
north-south striking corridor, with more than 80% of known
resources contained in the Alameda South deposit.
This mineralised corridor continues to the south into an area of
extensive Tertiary sediments where only 30cm of cover is sufficient
to obscure both basement geology and the radiometric signature of
any mineralisation.
The high prospectively of this corridor has been demonstrated by
ENUSA who drilled 34 wide spaced (1km x 1km) drill holes along a
section from 6km to 15km south of Alameda South. Significantly, 40%
of these holes intersected uranium mineralisation with grades up to
1,700 ppm U(3) O(8,) and some intersections in excess of 10m. These
results clearly highlight the corridor's prospectivity. However,
the mineralisation occurs at depths of 80m in basement with
significant Tertiary cover. Importantly, this cover thins
northwards with the first exposure of basement at Alameda
South.
Directly south of the Alameda South deposit, mapping by Berkeley
geologists has identified a very thin layer of Tertiary cover
previously mapped as outcropping basement. It has been observed
over areas of the Alameda South deposit that such a thinlayer of
cover is sufficient to mask any radiometric signature from basement
rocks. This apparent error in the original mapping may account for
the fact that 6km of the corridor, immediately adjacent to a
substantial deposit, remains untested. It is anticipated that the
cover is relatively thin along much of this strike length and the
first 3km will be tested with 1,500m of RC drilling which commenced
last week.
Aguila Area Exploration
A detailed assessment of the exploration potential close to
known mineralisation in the Aguila Area has been undertaken by
Berkeley geologists, incorporating information from the new
stratigraphic and structural interpretation. Although much of this
area has been extensively explored over the last 50 years, six high
quality targets have been identified. All occur within about 5km of
the proposed Aguila operations and some are associated with shallow
intersections of uranium mineralisation identified in previous
exploration.
Three of these prospects, Los Prados, Majuelos North and
Capilla, represent potential extensions to existing deposits. The
remaining prospects occur in exposed basement or beneath Tertiary
cover. Once approval has been received from the Salamanca Mines
Department (expected in the second quarter 2011), a 2,000m RC
drilling programme will commence in these areas.
Abetos Area Exploration
The Abetos licence was applied for during 2008 and is expected
to be granted later this year. Geologically the area is along
strike and in the same stratigraphic position as the main Villar
deposit which has an Inferred Mineral Resource of 4.9 Mlbs U(3)
O(8) . During regional field work, Berkeley geologists detected a
significant radiometric anomaly in close proximity to the granite
contact within this area (El Teso). At this stage, the full extent
and magnitude of the anomaly have not been defined because of the
presence of unmapped Tertiary sediments that appear to be partially
masking the radiometric signature.
Once the license is granted, detailed geological mapping to
accurately locate the Tertiary cover ground boundary followed by a
more comprehensive ground radiometric survey will be undertaken to
identify drill targets.
Retortillo Area Exploration
Significant potential exists in untested areas covered by
Tertiary sediments in close proximity to the Retortillo deposit.
These areas include favourable stratigraphic and structural
settings that will be tested by RC drilling in April. Another
drilling programme will commence later in the year once initial
targeting studies have been undertaken in consultation with
University of Salamanca geologists
.
A full version of this announcement including images can be
downloaded from Berkeley's website at
www.berkeleyresources.com.au.
The information in this report that relates to Exploration
Results, Mineral Resources or Ore Reserves is based on information
compiled by Mr. Ross Corben, who is a Member of The Australian
Institute of Mining and Metallurgy and an employee of Berkeley
Resources Limited. Mr. Corben has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr. Corben consents to the inclusion
in the report of the matters based on his information in the form
and context in which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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