Projects Overview

Berkeley Resources ProjectsBerkeley Resources Limited has a dominant land holding in Spain with a broad range of uranium exploration projects in the Salamanca, Caceres, Badajoz and Barcelona Provinces.

Berkeley Resources Limited has a dominant land holding in Spain with a broad range of uranium exploration projects in the Salamanca, Caceres, Badajoz and Barcelona Provinces.

Berkeley's focus is on the advancement of two stand alone uranium mining projects. These are the Salamanca I Project and the Enusa Joint Venture Project.

The resources within these projects total 87.0 million tonnes at 424ppm U₃O₈ for a total of 81.3Mlbs (36.9Kt) U₃O₈.

Mineral Resources as at 31 December 2011 (using 200ppm U₃O₈ Cutoff)
TOTAL RESOURCES	Resource Category	Tonnes (Mt)	U₃O₈ Grade (ppm)	U₃O₈(t)	U₃O₈ (Mlbs)
Salamanca 1 Project	Indicated	7.5	412	3,107	6.8
	Inferred	25.5	389	9,933	21.9
	*TOTAL*	*33.1*	*394*	*13,039*	*28.7*
Enusa JV Project	Measured	5.7	400	2,277	5.0
	Indicated	29.2	453	13,258	29.2
	Inferred	19.0	436	8,287	18.3
	*TOTAL*	*53.9*	*442*	*23,822*	*52.5*
*TOTAL RESOURCES*	*Measured*	*5.7*	*400*	*2,277*	*5.0*
	*Indicated*	*36.8*	*445*	*16,365*	*36.1*
	*Inferred*	*44.5*	*409*	*18,219*	*40.2*
	*TOTAL*	*87.0*	*424*	*36,861*	*81.3*

Note: for more detail see specific projects

Salamanca I

The Salamanca I Project is 100% owned by Berkeley and includes the following resources:

Retortillo
Santidad
Zona 7
Las Carbas
Cristina
Caridad
Gambuta

Berkeley has completed a Pre-feasibility study on Stage 1 of the Salamanca I Project which includes the mining of the Retortillo and Santidad Deposits. The Exploitation Project, developed from the Preliminary Feasibility Study, has been presented to the regional government of Castilla y Leon, in accordance with permitting requirements. The licensing and permitting process is proceeding to schedule. More details of the Pre-feasibility Study Results are given in the ASX Release of 30 January 2012 titled [PFS Results for Salamanca 1 Project].

Enusa Joint Venture

The Enusa Joint Venture Project includes the Salamanca State Reserves in which Berkeley has a right to acquire a 90% interest. The resources included in this Joint Venture are:

The Aguila area resources including the Sageras, Palacios North, Palacios South, Majuelos and Majuelos East deposits
The Alameda area resources including Alameda South and Alameda North deposits
The Villar deposit

Berkeley has completed a Feasibility Study on the Mining Domain area including only the Sageras, Palacios North and Alameda South Resources and has submitted it to Enusa. More details of the Mining Domain Feasibility Study Results are given in the ASX Release of 15 December 2011 titled [Update on Berkeley - Enusa JV Uranium Project].

Exploration Overview

All of the current Berkeley projects have been extensively explored in the past by reputable uranium explorers - notably the Junta de Energía Nuclear ("JEN") and ENUSA (the Spanish national uranium company) who both undertook extensive exploration campaigns and Areva NC. Berkeley was able to purchase a large volume of this exploration data that had been accumulated over many years.

Since acquiring these projects, Berkeley has undertaken a substantial exploration program, with highly encouraging progress, including:

Compilation and interpretation of a very substantial database of historical exploration results throughout Spain;
Undertaken numerous diamond drilling and reverse circulation drilling campaigns (>75,000m) across all its major projects;
Over 5,000 line kilometres of airborne radiometric and magnetic surveys have been flown over most project areas highlighting the exploration potential of these tenements and generating a significant number of strong anomalies;
Completion of a Feasibility Study on the Enusa Joint Venture Project and a Prefeasibility Study on Stage 1 of the Salamanca 1 Project, both of which confirm the project's economic and technical viability; and
Generating a total Mineral Resource base, reported in accordance with the JORC Code (2004), of 81.3 Mlbs (36.9Kt) U₃O₈ (200ppm cut-off).

Regional Geology

The region being explored by Berkeley is underlain by components of the 'Schist-Greywacke Complex' of late Precambrian to early Cambrian age. A detailed stratigraphic sequence defines a sequence consisting of predominantly fine-grained detrital sediments that are frequently carbonaceous and pyritic, with occasional quartzite, limestone, sandstone and conglomerate markers. The total thickness of the sequence appears to be well in excess of a thousand metres.

The sedimentary sequence has experienced intense deformation, principally during the Hercynian Orogeny. There are at least two phases of penetrative schistosity, followed by a further two phases of folding. The regional metamorphism corresponds to the greenschist facies, with both chlorite and biotite sub-zones being observed.

Granites of Hercynian age intrude along through this sedimentary sequence. These are typically coarse-grained, porphyritic biotite adamellites. At times a microgranitic facies is developed along the border. A thermal aureole is produced in the country rocks.

Following the main phases of deformation and igneous intrusion, there have been several episodes of fracturing extending from the late Hercynian to the end of the Alpine Orogeny.

Since the Hercynian Orogeny, the area has experienced an extensive period of erosion and peneplanation. During the Oligocene and Miocene, thin sheets of fluvial sands were deposited across much of the region.

Uranium Occurrences

Numerous occurrences of uranium mineralisation are known throughout the region. These include:

The Mina Fe & Mina D deposits (State Reserves - partially mined)
Alameda (State Reserves)
Sageras (State Reserves)
Retortillo and Santidad
Villares
Zona 7
Las Carbas
Caridad (a small old mine)
Cristina (minor mine workings)
Gambuta
Rio Azaba
Villar de Yegua
Gallegos de Argañán
Carpio
Marialba
Cuellar
Barquilla
Don Benito

The primary mineralisation consists of pitchblende and coffinite associated with carbonates, adularia and iron sulphides that fill fractures and breccias in finely-laminated sediments. Several phases of mineralisation can be recognised.

The information in this section of the website that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Craig Gwatkin, who is a Member of The Australian Institute of Mining and Metallurgy and a employee of Berkeley Resources Limited. Mr. Gwatkin has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Gwatkin consents to the inclusion in the Projects section of this website of the matters based on his information in the form and context in which it appears.