VANCOUVER, British Columbia--(BUSINESS WIRE)--Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Pink Sheets: TVCFF) continues to advance an NI 43-101 compliant prefeasibility study for its Kuriskova uranium project in Slovakia. Tetra Tech, Inc. of Golden, Colorado is preparing the study, expected to be completed in December 2011.
Tetra Tech’s proposed mine production plan for Kuriskova will be based on the Indicated portion of the most recent resource estimate. The April 2011 resource estimate comprises an Indicated Resource of 28.5 million pounds U3O8 grading 0.555% U3O8 contained in 2.3 million tonnes and an additional Inferred Resource of 12.7 million pounds U3O8 grading 0.185% U3O8 contained in 3.1 million tonnes, at a cut-off of 0.05%U (see news release dated April 26, 2011 announcing the resource estimate prepared by Tetra Tech). Ongoing metallurgical test work has confirmed uranium recoveries of 93-94%.
All field work and data interpretation necessary for completion of the prefeasibility study on schedule are in progress. Highlights of the work include:
- Completion of Phase 1 metallurgical test work at Hazen Research. Phase II is in progress;
- Geotechnical studies: the third of five geotechnical holes is being drilled, with completion of the geotechnical drilling program expected by mid-September. Logging of oriented core is continuing and results are being interpreted;
- Hydrogeological modeling: the three hydrogeological holes have been drilled and results are being interpreted;
- Collection of environmental base line data, including water and soil sampling and analysis;
- Preliminary engineering work for mine, process plant and infrastructure design; and
- Capital and operating cost estimates.
The Phase 1 test work at Hazen has confirmed uranium and molybdenum leach recoveries of 93-94% and 90-93%, respectively, on Kuriskova composites using a conventional alkaline leach circuit at P80 200 mesh grind, 200oC, and oxygen overpressure of 100 psi in a two hour leach time. Phase 2, which is ongoing, is focusing on refinement of the uranium and molybdenum precipitation parameters using industry standard flow sheets for alkaline process plants.
In addition to advancing the Kuriskova prefeasibility study, Tournigan is continuing with surface exploration work (geology, geochemistry and geophysics) within the Kuriskova exploration licence and on the company’s other exploration licences in Slovakia. This is expected to lead to drill targets which the company will begin testing after the Kuriskova geotechnical drilling is completed. Tetra Tech is also in the process of preparing an NI 43-101 resource estimate for the Novoveska Huta uranium deposit in Slovakia which is expected for release by the end of September.
Dorian L (Dusty) Nicol, B.Sc. Geo, M.A. Geo., Tournigan's President and CEO, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
Dorian L. (Dusty) Nicol, President and CEO
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This news release contains forward-looking statements that are based on the Corporation’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.