Vancouver – The sharp rise in uranium prices has lured Tournigan Gold (TVC-V) to acquire three exploration licences in eastern Slovakia.
The licences cover four uranium deposits, two having prior production, that host historical resources.
The past producing Novoveska Huta deposit sits on a 13 sq. km licence and had significant underground development work (over 5,500 metres on five levels) completed from the mid-1970s-to-1980s. Former Slovakian state uranium company Uranovy prieskum estimated an historic inferred resource of 12 million tonnes grading 0.06% U3O8 in addition to a speculative resource of 75 million tonnes averaging 0.03% molybdenum. The state company used a 0.015% U3O8 cut-off grade in its estimate.
Mineralization at Novoveska Huta occurs primarily as uraninite, uranium-titanium oxides and molybdenite within a strongly altered (carbonatized and sericitized) and brecciated sequence of andesites and dacites. Past metallurgical testing reported recoveries of 88-90% for uranium and up to 94% for molybdenum using a pressure leach process (lixiviation).
The Jahodna deposit is located on a 32 sq. km licence about 40 km east of Novoveska Huta. Uranovy prieskum’s 1996 resource estimate for Jahodna reviewed a 1.15 million tonne inferred resource, in a high-grade block, averaging 0.46% U3O8 (using a 0.03% U3O8 cut-off grade) and an additional 1.1 million tonnes of lower grade resource averaging 0.19% U3O8. The state company drilled almost 18,000 metres in 53 holes on the project between 1985 and 1991, with full radiometric surveys completed on each hole followed by assays.
Uranium mineralization at Jahodna is typically uraninite and brannerite coatings and impregnations within the fine grained matrices of Permian volcanic breccias and volcano-clastic sediments. Metallurgical testing showed similar recoveries to the Novoveska Huta ore.
Tournigan’s third licence, in Slovakia’s Kozie Chrbty district, hosts two uranium deposits, Svabovce and Spissky Stiavnik, containing historic resources of 1.5 million tonnes of 0.19% U3O8 and 300,000 tonnes of 0.17% U3O8 respectively.
Uranovy prieskum calculated the resources in the late-1960s, during its mining activity in the area, using data from about 900 surface and underground drill holes coupled with over 8,600 metres of underground development and test adits. Metallurgical tests showed potential uranium recoveries of 90-93% in a sulphuric acid and carbon pressure leaching circuit. Limited in-situ leach testing showed uranium recoveries ranging from 72-83%.
Tournigan also holds two advanced-stage gold projects, Kremnica in Slovakia and Curraghinalt in Northern Ireland.
The company has a market capitalization of $28 million based on its 62.1 million shares outstanding and recent 45 trading level.
Be the first to comment on "Tournigan adds Slovakian uranium to its mix"