- Peninsula Energy (PEN) affirms uranium grades continue to improve from the now year-long pH field demonstration underway at its flagship Lance Project in Wyoming, US
- The programme commenced in September last year in a bid to clarify optimal operating conditions at the project
- Peninsula says it now plans to expand the scope of the field demonstration and has successfully produced uranium from the pilot ion exchange system
- Peninsula Energy shares are down 3.66 per cent at 11:30 am AEST to trade at 19.8 cents
Peninsula Energy (PEN) affirms uranium grades continue to improve from the now year-long pH field demonstration underway at its flagship Lance Project in Wyoming, US.
Peninsula’s MU1A low pH field demonstration commenced in September 2020 with a primary objective of confirming optimal operating conditions highlighted in previous laboratory studies.
The company said operations have run “consistently” and upward trending uranium grades have continued since last updating the market in early July.
Peninsula has also laid plans to expand the scope of the field demonstration to Cby installing a new small scale pattern but has affirmed the addition will not prolong the demonstration.
Peninsula Managing Director and Chief Executive Officer Wayne Heili said results from the demonstration suggests targeted chemistry has been successful in recovering uranium.
“The production stream grades continue to improve while the variation of uranium grade among the recovery wells has highlighted the importance of precise well placement in achieving targeted levels of grade and recovery performance from the resource,” he said.
“With continued higher grades, the Company has now successfully produced uranium from the pilot ion exchange system.”
Mr Heili said the information gained during the programme would be used to progress the company towards a decision to finance commercial production.
Peninsula Energy shares were down 3.66 per cent at 11:30 am AEST to trade at 19.8 cents.