The district includes the Klappibacken project. On February 29, 2008, Mawson filed on its company profile on www.sedar.com a technical report dated February 28, 2008 entitled “Technical Report on the Review of Three Uranium Properties in Northern Sweden: Klappibacken, Duobblon and Tassjo”, written by Mr. Andrew Browne of GeoSynthesis Pty. Ltd. The author prepared a resource estimate on the Klappibacken deposit on behalf of Mawson. This resource estimate comprises an Indicated Resource of 1.28 million tonnes averaging 0.077% U3O8 and containing 2.17 million pounds of U3O8. The estimate was based on 34 diamond drill holes totaling 4,220 metres. On July 16, 2008 Mawson issued a news release updating this resource estimate. The updated estimate was prepared by Mr. Andrew Browne of GeoSynthesis Pty. Ltd. and incorporated results from an additional 20 diamond drill holes completed after publication of the February 2008 resource estimate. The updated resource estimate comprises a Measured and Indicated Resource of 1.94 million tonnes averaging 0.08% U3O8, containing 3.3 million pounds of U3O8 using a cut-off of 0.025% U3O8. Tournigan considers these resource estimates to be relevant but Tournigan has not independently verified the estimates. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and Tournigan is not treating the historical estimate as a current mineral resource.Other exploration results include discovery of sixty-six uranium mineralized outcrops within the exploration claims over an area of 8 kilometres by 7 kilometres surrounding the Klappibacken project. Sampling results from these outcrops included forty assays above 0.05% U3O8, which ranged from 0.05% U3O8 to 8.04% U3O8 and averaged 0.79% U3O8. The discovery of these uranium mineralized outcrops is significant considering that outcropping rock accounts for less than 10% of the surface area in the Hotagen district, with the remainder of the area blanketed under a thin 1-2 metre soil veneer.
Tournigan Takes Final Steps To Become European Uranium Resources Ltd.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.