Berkeley Energy (ASX:BKY) has been conducting an infill drill program at its Salamanca uranium project in Spain, and the company has just released its exploration results. As expected, the infill drill program has confirmed the known existing uranium mineralization at the project and even some of the higher grade intervals were confirmed by the drill bit with for instance 5 meters of almost 4 pounds of uranium per tonne of rock, but also longer intercepts such as 26 meters at 1103 ppm (approximately 2.4 pounds of uranium per tonne).
The original intention to conduct this drill program was to narrow down the spacing in between the drill holes to a 50 by 50 meter pattern. This allowed Berkeley to complete an updated resource estimate at Zona 7 which now contains in excess of 31 million pounds of Uranium, of which in excess of half is located in the Indicated category. The total resource at Salamanca is now closing in on the magical number of 100 million pounds Uranium.
Once the uranium market gets going again, we are convinced Berkeley Resources remains one of the most important companies to keep an eye on.
Disclosure: The author holds no position in Berkeley Energy. Please see our disclaimer for current positions.