
Overview
Spain:
Salamanca I
Salamanca II
Caceres I
Caceres II
Caceres III
Guadalajara I
Australia:
Miriam Bouchers
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Berkeley Resources Limited has agreed to acquire six advanced uranium
exploration projects in Spain by purchasing Minera de Rio Alagon SL
("Rio Alagon"), a Spanish company that has applied for licences
totalling approximately 110,000ha encompassing the six projects.
The Company will earn its interest in Rio Alagon by investing up
to €1.5m in exploration over 3 years to earn an initial 51%
and can then increase its interest up to 100% by spending a further
€2m over 2 years.
All of the Rio Alagon projects have been extensively explored in
the past by reputable uranium explorers – notably Areva NC
(the worlds largest ore second largest uranium producer, depending
on the measure used) and ENUSA (the Spanish national uranium company).
As a result, a large volume of data is available, which Berkeley
is in the process of acquiring and reviewing.
The Company has signed a Heads of Agreement (subject to shareholder
approval) with Areva NC pursuant to which Berkeley will acquire
access to Areva NC’s exploration database for the Iberian
Peninsular and Areva NC will become Berkeley’s technical partner
for exploration and development of the Company’s uranium projects
in Spain. The Company will also appoint Areva NC as its marketing
partner for any production arising from the Spanish projects, on
normal commercial terms.
Berkeley has also made an application to the Spanish authorities
for the lifting of a number of State Reserves which relate to substantial
known uranium deposits within the Berkeley tenements. These will
provide further targets for Berkeley to explore if and when these
areas become available.
The Company also owns a number of exploration projects in Australia
for gold, nickel and base metals.
The information in this section that
relates to Exploration Results, Mineral Resources or Ore Reserves
is based on information compiled by Mr Peter Ellis, a Member of the Australasian Institute of Mining
and Metallurgy. Mr Ellis is a consultant of Berkeley Resources
Limited. Mr Ellis 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 Ellis consents to the inclusion in this
section of the matters based on his information in the form and
context in which it appears.
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