|
Lake Maitland
In December 2006, Mega acquired the Lake Maitland uranium resource in Western Australia through the takeover of the Australian public company, Redport Ltd.
Discovered by Asarco Australia Pty. Ltd. in 1972, the Lake Maitland deposit was drilled by Mt Isa Mines Ltd. (now Xstrata Ltd) and Esso Exploration Australia Ltd. in the 1980s and 1990s, by Redport in late 2005 and by Mega in 2007/2008. Details of the resource can be found in the Lake Maitland NI43-101 Technical report
View the Lake Maitland National Instrument 43-101 Technical Report.
Lake Maitland is favourably located with respect to mine development as it occurs in a region with operating/abandoned gold and nickel mines and has access to nearby infrastructure including gas pipelines, power, roads, water and airstrips. The resource is amenable to low cost open cut mining due to its flat single layer configuration, very shallow position at a depth of 1-2 metres, a stripping ratio of 0.3:1 and soft nature. No drilling and blasting will be required in the mining operation.
In mid February 2007, Mega announced it was fast-tracking development work at Lake Maitland - refer to the Mega news release of February 15 2007.
Following the defeat of the Labor Government in the Western Australia State election in September 2008, and the subsequent announcement by the new Liberals-Nationals Government to allow uranium mine development, comprehensive plans were put in place by Mega to proceed with a full Feasibility Study .
Project Update
Definitive feasibility studies are now underway focusing on various processing, engineering and infrastructure options with a view to enhancing the project economics. Such studies include investigating the possibility of optimising processing costs through beneficiation of ore prior to leaching and improvements in leaching recovery, and also assessing the potential for reducing the capital cost through the use of existing infrastructure. The studies are being undertaken by the Perth-based consulting groups Golders Associates (Lead Consultant), Independent Metallurgical Operations Pty Ltd (Metallurgical Testwork and Process Design), Intech Engineers (Engineering Design and Infrastructure), Outback Ecology Services (Environmental Studies) and Aquaterra Pty Ltd (Hydrogeology).
In December 2009, Mega significantly progressed the DFS by undertaking a trenching program with the primary objective of obtaining bulk samples for metallurgical testwork. The 10-trench program also allowed validation of the geological interpretation, groundwater testing and assessments of equipment and materials handling.
Metallurgical testwork of bulk samples is now underway at a number of specialist test facilities in Perth, focusing on resource variability analysis, unit operation optimisation and equipment selection. The program is expected to be completed in September 2010.
In parallel with the metallurgical testwork, the DFS engineering and infrastructure design components have commenced, with target completion of the DFS in November 2010. Subject to the receipt of positive results from the DFS, the receipt of all required permits and approvals and the securing of necessary capital, construction of the mine and processing facility is targeted to commence in 2012, with the initial uranium production scheduled for mid 2013. The previously planned production date of 2012 has had to be extended primarily as a result of the time necessary to assess the various infrastructure options and longer than expected lead times in obtaining governmental approvals.
Mega plans to apply to the Western Australian Department of Mines and Petroleum (WA DMP) to undertake an Evaluation Test Pit program during the year to enable further evaluation of mining methods, tailings storage options and associated groundwater aspects.
Further enhancing the Project's progress to development, the WA DMP granted Mega a Miscellaneous Licence to search for groundwater over areas adjacent to the Project site. An airborne magnetic survey, which has been completed over known target areas, will enable Mega to plan and conduct a water exploration drill program in the coming months.
Mega proposes to establish processing and tailings disposal facilities at the Lake Maitland site. As a result, Mega will undertake a planned 43 hole (1300 meter) sterilization drilling programme in April 2010 over the proposed locations for these facilities. Mega will continue to explore the use of neighbouring infrastructure.
Cultural Heritage and Socio-Economic Impact Assessment (SEIA)
Ethnographic, archaeological and non-indigenous heritage surveys of the Project area have found no sites of significance that would delay development.
General consultations with the indigenous and non-indigenous community, including local, state and federal government, have commenced and Mega recently conducted a scoping study survey to ascertain the skills, employment interests, perspectives and concerns about uranium from indigenous people who reside close to the Project area.
The socio-economic impact assessment is underway with the first stage of baseline data collection complete. Consultation with various stakeholders is on-going and will continue as the Project progresses and will be followed by the mitigation planning phase and the SEIA report, which will be provided to stakeholders for comment.
Environmental Scoping Document
The Environmental Scoping Document ("ESD") for the project has been released for public review, which is a significant milestone in the approvals process. The ESD is available for public review until July 5th, 2010 during which period any interested persons will be able to provide comments to the Western Environmental Protection Authority.
To view the ESD and provide comments, please visit www.lakemaitlandproject.com.
|
))
))
))
))
