Peninsula Energy (ASX:PEN) progresses field demonstration at Lance Project

• Peninsula Energy (PEN) has returned promising results so far from field demonstration work at its Lance Project in Wyoming, U.S.
• The company began the work last August, but ran into delays earlier this year
• The work is designed to provide key data on pattern configurations, pH adjustment, acid consumption and oxidants ahead of a decision to restart production at the project
• As the part of the testwork, Peninsula has now completed a number of test modifications, including changing up testing patterns, improving response times, adding a new oxidant and increasing uranium recovery solutions
• Notably, target pH levels are also close to being achieved
• The company expects to complete the work on schedule by the first half of next year
• Ahead of market open, company shares last traded at 11.5 cents per share

Peninsula Energy (PEN) has returned promising results so far from field demonstration work at its Lance Project in Wyoming, U.S.

The low-pH in-situ recovery testwork started last August and is designed to provide key data on pattern configurations, pH adjustment, acid consumption and oxidants ahead of a decision to restart production at the project.

Earlier this year, the company announced a six-month delay due to remaining demonstration patterns taking longer than expected to reach recovery pH targets.

Since then, Peninsula has completed a number of test modifications, which have seen some positive results.

These include modified test patterns, improved response time, a new oxidant, which is now delivering results, and an increase in uranium recovery solutions. Notably, target pH levels are also close to being achieved.

“We are currently eight months into the field demonstration and are happy with how it is progressing,” Managing Director and CEO Wayne Heili said.

“Adjustments made since our February update have delivered positive
results. We will continue to run the field demonstration through the first half of 2022 and the information gained will be invaluable as the company progresses the Lance Project toward a return to commercial production,” he added.

Ahead of market open, company shares last traded at 11.5 cents per share.