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JORC Code Compliant Resources

  • Lance Projects
  • JORC Code Compliant Resources
  • Uranium In-Situ Recovery
  • Karoo Projects South Africa
  • The JORC-compliant Resource Estimate for the Lance Projects is 53.6Mlbs, calculated by applyinga combined constraint of a GT of 0.2 contour and 200ppm eU3O8. These cut offs are considered to be appropriate for both calculating and reporting of ISR resources at the Lance Projects.

    The measured, indicated and inferred resources are located in host sandstones. Geological modelling of the extensive down-hole geophysical data has accurately defined the impermeable shale and mudstone horizons that form the confining horizons to the mineralised sandstones.

    Lance Projects Classified JORC-Compliant Resource Estimate (U3O8)
    31 December 2020

    Resource ClassificationTonnes Ore (M)U3O8 kg (M)U3O8 lbs (M)Grade
    (ppm U3O8)
    Location
    Measured3.41.73.7489Wyoming, USA
    Indicated11.15.512.1496Wyoming, USA
    Inferred36.217.237.8474Wyoming, USA
    Total50.724.453.6480 

    JORC Table 1 included in an announcement to the ASX released on 14 November 2018: “Revised Lance Projects Resource Tables”. Peninsula confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

    Competent Persons Statement

    The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves at the Lance Projects is based on information compiled by Mr Benjamin Schiffer. Mr Schiffer is a Registered Professional Member of the Society of Mining, Metallurgy and Exploration (Member ID #04170811). Mr Schiffer is a professional geologist employed by independent consultant WWC Engineering. Mr Schiffer 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 as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

    Schedule of Interests in Mining Tenements:

    Location / Project NameTenementPercentage
    Private Land (FEE) – Surface Access AgreementApprox. 2,401 acres100%
    Private Land (FEE) – Mineral RightsApprox. 10,361 acres100%
    Federal Mining Claims – Mineral RightsApprox. 13,445 acres100%
    Federal – Surface Access – Grazing LeaseApprox. 40 acres100%
    State Leases – Mineral RightsApprox. 10,584 acres100%
    State Leases – Surface AccessApprox. 914 acres100%
    Strata Owned – Surface AccessApprox. 315 acres100%

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