An NI 43-101 technical report was filed on SEDAR January 22, 2014, for the Wyoming located Hauber Project. The report supports the presence of:
- 139,000 tons of Indicated Mineral Resource with an in-place grade of 0.18% U3O8 for a total of 501,000 lbs. eU3O8.
- 46,000 tons of Inferred Mineral Resource with an in-place grade of 0.164% U3O8 for a total of 153,000 lbs. eU3O8.
January 22, 2014 / ACCESSWIRE / Aldershot Resources Ltd. (TSX.V-ALZ) (“Aldershot” or the “Company”) through Royal USA Inc., a wholly owned subsidiary of Aldershot, today, filed on SEDAR an NI 43-101 compliant technical report for the Company’s Hauber Project (“Project”) located in Crook County, Wyoming. Aldershot, through Royal USA, has assembled a significant land package in the Project area. In previously press releases this project area was referred to as the Elkhorn Project but due to its proximity to the historical Hauber Mine, the project has been renamed to the Hauber Project.
The Hauber Project is an exploration-stage uranium project consisting of 50 unpatented mining claims for a total size of approximately 895 acres (362 ha). The claims are located on land where all the mineral ownership is held by the Bureau of Land Management (BLM), part of the US Department of Interior. The surface estate is comprised of both fee surface and BLM surface.
Homestake Mining Company was the major explorer of the district and operated the Hauber underground mine and several small open pit mines during the 1950s and 60s. The Hauber Mine produced approximately 2.6 million pounds U3O8 at an average grade of 0.22% U3O8 during the period 1957 - 1966. Following mine closure, Homestake continued to explore the region for a number of years. This program identified a major uranium trend in the region and several areas of concentrated mineralization.
Homestake's database for the region consists of information from thousands of drill holes, both rotary and core; it also includes maps, gamma logs and chemical assay information from their program. Royal has access to the portion of this database relative to the project area and has started to make use of this information.
The mineral resources for the project area were calculated using the Homestake database, which is summarized in the following table.
(1) Resource numbers have been rounded to the most significant figure and may not add up to the total
The physical and geologic situation of these resources is quite variable such that a combination of methods may be required for exploitation. These methods might include: in situ recovery; surface and/or underground mining; and hydraulic borehole mining.
About Royal USA Inc.
Royal is a mineral exploration and development company focused on mineral resources in the United States of America. Royal utilizes an acquisition selection process that ensures each property takes advantage of Aldershot’s skilled analytics, jurisdictional awareness, and close industry relationships to shorten the path to production.
Royal recently completed a very successful project at its Sage Plain Project. Royal initiated an exploration project in the Sage Plain area located approximately 15 miles east of Monticello, Utah. Royal then entered into a 50:50 partnership with Energy Fuels Resources (“EFR”) to form the Colorado Plateau Partners LLC. Royal was the manager of the Sage Plain Project through the exploration portion of development. As was previously reported, the Sage Plain Project is in the mine permitting phase and was recently sold to Energy Fuels Inc. (TSX-EFR).
About Aldershot Resources Ltd.
Aldershot Resources Ltd., based in Vancouver, Canada, is a mineral exploration company with a portfolio of uranium and vanadium properties in the United States and Australia. Shares of the Company are listed for trading on the TSX Venture Exchange and there are 159,742,975 shares outstanding.
Qualified Person Statement
Michael G. Leidich, P.Eng., a qualified person as defined in NI 43-101, has reviewed and approved this news release but has not verified the data disclosed above, nor done any sampling, analytical, or test data underlying the information or opinions contained in the disclosures included in this Press Release.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD.
“Michael G. Leidich”
President and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Aldershot Resources Ltd.
Michael G. Leidich
President and Chief Executive Officer
Email: [email protected]
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and “Forward Looking Information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia and Alberta Securities Commissions.
Source: Aldershot Resources Ltd.