Resource


Statement of Identified Mineral Resources, Kvanefjeld Multi-Element Project.

 

Multi-Element Resources Classification, Tonnage and
Grade

 

Contained Metal

Cut-off

Classification

M tonnes

TREO2

U3O8

LREO

HREO

REO

Y2O3

Zn

 

TREO

HREO

Y2O3

U3O8

Zn

(U3O8 ppm)1

 

Mt

ppm

ppm

ppm

ppm

ppm

ppm

ppm

 

Mt

Mt

Mt

M lbs

Mt

Kvanefjeld – March 2011

                           

150

Indicated

437

10929

274

9626

402

10029

900

2212

 

4.77

0.18

0.39

263

0.97

150

Inferred

182

9763

216

8630

356

8986

776

2134

 

1.78

0.06

0.14

86

0.39

150

Grand Total

619

10585

257

9333

389

9721

864

2189

 

6.55

0.24

0.53

350

1.36

                               

200

Indicated

291

11849

325

10452

419

10871

978

2343

 

3.45

0.12

0.28

208

0.68

200

Inferred

79

11086

275

9932

343

10275

811

2478

 

0.88

0.03

0.06

48

0.20

200

Grand Total

370

11686

314

10341

403

10743

942

2372

 

4.32

0.15

0.35

256

0.88

                               

250

Indicated

231

12429

352

10950

443

11389

1041

2363

 

0.24

2.53

2.63

178

0.55

250

Inferred

41

12204

324

10929

366

11319

886

2598

 

0.04

0.45

0.46

29

0.11

250

Grand Total

272

12395

347

10947

431

11378

1017

2398

 

0.28

2.98

3.09

208

0.65

                               

300

Indicated

177

13013

374

11437

469

11906

1107

2414

 

2.30

0.08

0.20

146

0.43

300

Inferred

24

13120

362

11763

396

12158

962

2671

 

0.31

0.01

0.02

19

0.06

300

Grand Total

200

13025

373

11475

460

11935

1090

2444

 

2.61

0.09

0.22

164

0.49

                               

350

Indicated

111

13735

404

12040

503

12543

1192

2487

 

1.52

0.06

0.13

98

0.27

350

Inferred

12

13729

403

12239

436

12675

1054

2826

 

0.16

0.01

0.01

10

0.03

350

Grand Total

122

13735

404

12059

497

12556

1179

2519

 

1.68

0.06

0.14

108

0.31

Sørensen – March 2012

                           

150

Inferred

242

11022

304

9729

398

10127

895

2602

 

2.67

0.10

0.22

162

0.63

200

Inferred

186

11554

344

10223

399

10622

932

2802

 

2.15

0.07

0.17

141

0.52

250

Inferred

148

11847

375

10480

407

10887

961

2932

 

1.75

0.06

0.14

123

0.43

300

Inferred

119

12068

400

10671

414

11084

983

3023

 

1.44

0.05

0.12

105

0.36

350

Inferred

92

12393

422

10967

422

11389

1004

3080

 

1.14

0.04

0.09

85

0.28

Zone 3 – May 2012

                           

150

Inferred

95

11609

300

10242

396

10638

971

2768

 

1.11

0.04

0.09

63

0.26

200

Inferred

89

11665

310

10276

400

10676

989

2806

 

1.03

0.04

0.09

60

0.25

250

Inferred

71

11907

330

10471

410

10882

1026

2902

 

0.84

0.03

0.07

51

0.2

300

Inferred

47

12407

358

10887

433

11319

1087

3008

 

0.58

0.02

0.05

37

0.14

350

Inferred

24

13048

392

11392

471

11864

1184

3043

 

0.31

0.01

0.03

21

0.07

Project Total

                             

Cut-off

Classification

M tonnes

TREO2

U3O8

LREO

HREO

REO

Y2O3

Zn

 

TREO

HREO

Y2O3

U3O8

Zn

(U3O8 ppm)1

 

Mt

ppm

ppm

ppm

ppm

ppm

ppm

ppm

 

Mt

Mt

Mt

M lbs

Mt

150

Indicated

437

10929

274

9626

402

10029

900

2212

 

4.77

0.18

0.39

263

0.97

150

Inferred

520

10687

272

9437

383

9820

867

2468

 

5.55

0.20

0.45

312

1.28

150

Grand Total

956

10798

273

9524

392

9915

882

2351

 

10.33

0.37

0.84

575

2.25

1There is greater coverage of assays for uranium than other elements owing to historic spectral assays. U3O8 has therefore been used to define the cut-off grades to maximise the confidence in the resource calculations.

2Total Rare Earth Oxide (TREO) refers to the rare earth elements in the lanthanide series plus yttrium.

Note: Figures quoted may not sum due to rounding.

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