Berkeley Energia BKY 2

Berkeley Energia (ASX:BKY, BKY.L) is still exploring on its Salamanca project in Spain, where it has already completed and published a feasibility study for a large European uranium mine. Berkeley has completed some holes which were aiming to determine what’s underneath the Zona 7 resource, and the company will very likely be quite happy with the results. With 12 meters of in excess of 2 pounds of uranium per tonne of rock and 2 meters containing in excess of 4 pounds per tonne, this drill program has been very successful, and the Zona 7 mineralization seems to be continuing to a depth of almost 300 meters.

Of course, more work will be needed before even thinking about adding these zones to a mine plan, but it’s encouraging to see there’s more out there than what’s in the Zona 7 resource.

Berkeley Energia BKY 1

This strengthens the belief there’s much more to be found at Salamanca, and Berkeley Energia has commenced discussions with potential exploration partners. Whilst Berkeley would be constructing and operating the production facility, it could make sense for an exploration partner to come in and try to expand the currently known resource, creating a win-win situation – depending on the earn-in terms and operational and technical expertise of a partner.

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The author has a long position in Berkeley Energia. Please read the disclaimer

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