29th Apr 2015 11:20
LONDON (Alliance News) - Berkeley Resources Ltd said Wednesday it continued to focus on advancing its Salamanca project in Spain during the first quarter of 2015, and made positive progress on getting permits for the Retortillo deposit.
During the quarter it made "substantial progress" on the scoping study at the project, which is scheduled to be completed in the second quarter. After this the next phase of resource infill drilling at the Zona 7 deposits will begin with the objective of upgrading the classification of the high grade portion of the Zona 7 mineral resource estimate to the indicated category.
The miner continued to advance the definitive feasibility study at Salamanca, and the metallurgical testwork program for Retortillo is nearing completion, it said.
Berkeley continued to work on getting permits for Retortillo, submitting all the documents required for a permit for the initial authorisation of the process plant as a radioactive facility, and further documentation for the application for exceptional use of the land. It was recently granted an important water permit for the area, it said.
The company said it had cash reserves of AUD14.9 million on March 31 and said it is maintaining a strong focus on cost control.
Shares in Berkeley Resources were untraded Wednesday at 12.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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