Azincourt Uranium (AAZ.V) has announced it has engaged SRK Consulting to review the previously completed exploration and processing work on the 35.5M lbs Macusani uranium project in Eastern Peru. SRK will mainly be focusing on validating the public and private work which has been conducted to determine the viability of the project with a special focus on studying the potential of leaching the ore. If the Macusani uranium could be leached out of the ore (which is generally expected), the project will very likely be economic even at the current depressed uranium prices, as neighbor Macusani Yellowcake (YEL.V) released a NI43-compliant resource estimate indicating it could produce uranium at a cost of just over $20/lbs.
Azincourt has also re-engaged Henkle & Associates which completed the 2010 resource estimate to review the resource estimate using different cutoff-grades which will allow Azincourt to decide where to start with an infill and resource expansion drill program.
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Disclosure: The author holds a long position in Azincourt Uranium. Azincourt Uranium is a sponsor of the website. Please see our disclaimer for current positions.
