27th Jan 2016 09:28
LONDON (Alliance News) - Berkeley Energia Ltd Wednesday said three holes drilled at the Salamanca project in Spain have returned high grade intersections from below the Zona 7 deposit which shows there could be a possible extension to the mineralisation at depth.
Three holes drilled from surface through the Zona 7 deposit to a depth of 220 metres have reported grades up to eighteen times higher than the average grade of the resource, the company said.
Berkeley Energia shares were trading up 9.4% to 25.98 pence per share on Wednesday morning.
The best intercepts from the latest round of drilling include 48 metres at 1,018 parts per million triuranium octoxide, including 9 metres at 1,969 parts per million triuranium octoxide and 19 metres at 1,753 parts per million triuranium octoxide.
"Given the transformational effect the shallow, high grade Zona 7 deposit has had on the project's economics the primary focus of our upcoming exploration program is to look for more of the same," said Managing Director Paul Atherley.
"Intercepts of these widths and grades located immediately below Zona 7 are extremely encouraging and will be the immediate focus of the next drill program which commences very shortly," he added.
Berkeley shares were up 9.4% to 25.98 pence.
By Joshua Warner; [email protected]; @JoshAlliance
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