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Market:	ASX AIM
Sector:	General Mining
EPIC:	BKY
Latest Price:	0.38 (1.35% )
52-week High:	0.82
52-week Low:	0.30
Market Cap:	67.24M

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Berkeley Resources

Berkeley Resources (ASX: BKY) is an exploration and development group with a dominant land holding and advanced uranium exploration and development projects in Spain.

Berkeley's focus is on the successful completion of a Feasibility Study at its flagship Salamanca Uranium Project, incorporating the Spanish State Reserves and the Quercus Uranium Processing Plant. BKY is committed to aggressively pursuing the ongoing exploration, appraisal and potential development of this outstanding uranium Project in order to fulfill its strategic objective of becoming the next European uranium producer in the near-term.

Berkeley Resources mobilises three drilling rigs for uranium exploration in Spain

Tuesday, October 27, 2009

Berkeley Resources has mobilised three diamond drilling rigs for an initial drilling program at the company's Salamanca Uranium project in Spain.

The objectives of the drilling program are to verify and supplement the exploration targets at Mina D,
Sageras/Zona M and Alameda within the ENUSA State Reserve licenses; to enable JORC compliant resource estimates and to provide representative geotechnical and metallurgical samples.

Approximately 60 diamond drill holes, totaling about 5,000m are planned.

Berkeley's focus is on the successful completion of a Feasibility Study at its flagship Salamanca Uranium Project, incorporating the Spanish State Reserves and the Quercus Uranium Processing Plant.

The Feasibility Study is expected to take up to 18 months.

The Salamanca Uranium Project incorporates the Mina Fe deposits (Sageras/Zona M and Mina D) and the nearby Quercus Plant, as well as the more distant Alameda and the Retortillo deposits.

The Feasibility Study will focus initially on mining the Mina Fe deposits for processing through the Quercus Plant utilising heap leaching or dynamic leaching, or a combination of the two.

The Study will also address the potential for subsequently sourcing additional feed for the plant from the Alameda and Retortillo deposits.

Based on ENUSA’s historical work, Berkeley has established exploration targets totaling 16–19.5mt at 400-500ppm (for 14– 21.5mlbs of U3O8) for the Mina Fe area deposits, all of which are located in close proximity to the Quercus processing plant.

In addition, Berkeley has previously established exploration targets in the Alameda area of 25.5-29.0mt at grades ranging from 450-500ppm (approx 28-29m lbs of U3O8), based on ENUSA’s historical calculations.

The Mina Fe area and Alameda deposits have been extensively explored by ENUSA but do not presently have JORC compliant resources.

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