ARMZ has evaluated field reserves of the Elkon Uranium-Ore Area

ARMZ has evaluated field reserves of the Elkon Uranium-Ore Area

Ultimate uranium reserves were equal to 229.8 thousand tones, 71.3 thousand of which refer to the Measured + Indicated category and 158.5 thousand – to the Inferred category. The average uranium content in the ore — 0.143%. The obtained value is close to the reserves estimation (257.8 thousand tones of uranium reserves of the В+С1+С2 categories with the average content in the ore equal to 0.146%), held in 1980 and protected by the USSR State Committee for Mineral Reserves.
The evaluation was performed with the participation of Micromine Consulting Company in accordance with the JORC international Code and confirmed by a competent person. The reserves estimation performed in accordance with the international standards will increase the investment appeal of the Elkon Mining-and-Metallurgical Integrated Works project and will make it clear and transparent for potential investors. The “Elkon” project is the world’s second in terms of raw-material base volume and has no parallels in Russia in terms of its scale.