Bancroft Uranium Inc. announced that the surface drilling program on the Monmouth Uranium Project near Bancroft Ontario has begun and is currently processing a metallurgical test sample of the Monmouth rock with SGS Mineral Services Laboratory located in Lakefield, Ontario.
The project will begin drilling on February 25th and is anticipated to take six weeks with an estimated 20,000 feet. The center point of attention are on areas in and around the historical drill results from the 1969 program to bring into modern N.I. Policy 43-101 compliance which is a recognized world mining standard. In the intent of expanding the current estimated potential at Monmouth, the drilling will endeavor to extend the known strike length of the skarn (altered limestone) which hosts the uranium mineralization.
While operators in the 1950s conducted surface trenching across approximately 1,000 feet, uranium was discovered at Monmouth that showed grades 0.14% U308 over 35 trenches and had limited follow-up drilling. The Monmouth geology is comprised of uranium crystals disseminated in an altered skarn with a thickness of 16 to 60 feet. With only 1500 feet of the strike length being explored, the skarn horizon has been mapped for a length of 6000 feet. Historical drill holes cut uranium mineralization ranging from 1/10 pound to over 6 pounds per ton.
Previous operators reported estimated drilling potential of 2 million tons containing 0.9 pounds per ton. The Monmouth Uranium Projects is open along strike to the northeast, southwest, and down to the southeast. They believe that the low cost mining factors due to the nearest place to the infrastructure, combined with the 1970 metallurgical tests, shows 80% (plus) recovery by simple gravity separation, making evident a potential for a reliable low cost uranium deposit.
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