STONEHENGE METALS ACHIEVES 90% URANIUM RECOVERIES FROM FLAGSHIP PROJECT IN KOREA
Stonehenge Metals (ASX: SHE) is increasing its uranium and vanadium activities in Korea, with testwork returning promising results from its flagship Daejon project.
At Daejon, fresh bulk samples collected from the Chubu Adit prospect are being analysed for vanadium content by ALS AMMtec in Perth.
Vanadium extraction results achieved to date in the current program have been as high as 68%, while acid leach tests to date have all achieved greater than 90% extraction of uranium.
Pit optimisation has begun at Chubu Adit to enable Stonehenge to better understand the mineralogy and structural geology of the project.
Work has also commenced on a regional hydrocensus, including a survey of private bores and identification of watercourses, springs, seeps and dams, with a sampling program to commence in October 2011.
The company is also looking to increase its holdings in Korea, saying that it will revisit the possibility of the acquisition of up to a 51% interest in Tozai Holdings’ uranium tenements, most notably the Daejon 49 mining right.
The deal was first announced in May 2011, however it was subsequently terminated when results from independent resource consultant Optiro contradicted the resource evaluation for the project.
Although Stonehenge is keeping its cards close to its chest, it has said that it will revisit the proposal with Tozai once certain unspecified economic and business matters are clarified.
Stonehenge has appointed a senior advisor in Korea, Cheong-Hie Kim, who was previously a senior advisor and representative director to BHP Billiton Korea. With a background in engineering and experience marketing a wide range of resources in Korea, Kim’s appointment is indicative of Stonehenge’s commitment to the region.
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