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Kuriskova Uranium DepositKuriskova Uranium Deposit - Slovak Republic - 100% interest in licencesThe current uranium resource at Kuriskova, announced in February, 2009 is:
17.9 million pounds U3O8 inferred contained in 3.8 million tonnes at 0.215% U3O8 Cut-off of 0.05%U (see RE table) 2009-2010 Exploration The objective of Tournigan's 2009-2010 program at Kuriskova is to continue expanding the resource, to upgrade a significant portion of the inferred resource to the indicated category, to increase the overall grade of the deposit and to provide subsurface geotechnical and hydrogeological data to be used for engineering design. The resulting updated resource estimate will provide the basis for the reserve estimate in the Kuriskova Project prefeasibility study. The 17 holes (excluding two abandoned holes) drilled in 2009 total 5,298 metres of a planned 15,000 metre program. On January 14, 2010, Tournigan announced the results of eight drill holes from its 2009 infill and step out drilling program at Kuriskova. The most significant intercept, Hole LE-K-39, drilled in the northern portion of the Main Zone, returned 4.5 metres of 0.977% eU3O8. Highlights of the recent drilling results from five of the eight holes include:
The above drill hole results were preceded by seven holes announced Nov 9, 2009. Highlights from five of the seven holes include:
Uranium grades presented in the table above are reported as equivalent uranium oxide (eU3O8%) based on downhole radiometric logging. Complete significant results from the downhole radiometric logging of the eight holes announced today and all previously announced 2009 holes are presented in Appendix A, which can be viewed from this link: http://www.tournigan.com/i/pdf/KurlDrillResults.pdf. The hole locations can be viewed from "Kuriskova 2009 Drill Results" above: Zone 45 On November 23, 2009, Tournigan announced the results of two exploration drill holes (LE-K-29 and LE-K-32) which intersected high grade uranium mineralization at Kuriskova . These drill holes appeared to represent a new zone of mineralization adjacent to, but at shallower depth, than the Kuriskova Main Zone (see map below). Tournigan followed up with two additional step-out holes (LE-K-40 and LE-K-41) announced January 27, 2010. Highlights of the four Zone 45 holes are:
LE-K-32 : 2.5 m @ 0.747 eU3O8 %, including 0.9 m @ 1.891 eU3O8 % LE-K-40 : 3.10 m @ 0.564% eU3O8, including 1.20 m @ 1.033% eU3O8 LE-K-41: 2.90 m @ 0.933% eU3O8, including 1.80 m @ 1.406% eU3O8
2009-2010 Exploration Map  Click to View Full-Sized PDF The two Zone 45 discovery holes announced November 23, 2009 were designed to test the edge of a radon and radiometric anomaly trending northwest from the current uranium resource. The first drill hole, LE-K-29, was drilled 35 metres north of the current resource limit. Based on the high grade intercept in that hole, Tournigan stepped out a further 20 metres to the northwest and drilled LE-K-32, which also intersected high grade mineralization. The mineralization in Zone 45 occurs at a shallower depth (130 to 150 metres from surface) than the current Main Zone resource and occurs in interformational schist horizons in the hanging wall, rather than at the volcano-sedimentary contact which localizes the Main Zone. It is speculated that this new zone may represent remobilization and redeposition of uranium along favorable structures. The radon and radiometric anomalies extend at least 400 metres from the current resource boundary and this high grade zone remains open along strike. The two follow-up holes announced January 27, 2010, were drilled as additional step outs. New Hole LE-K-40 intersected mineralization approximately 15 metres east of hole LE-K-29 (2.0 m of 0.847 % eU3O8) and new hole LE-K-41 deviated towards LE-K-32 and intersected mineralization approximately 10 metres west of hole LE-K-32 (2.5 m of 0.747 % eU3O8). Preliminary Assessment, July 2009 In July of 2009, Tournigan announced the results of a Preliminary Assessment on the Slovakian Kuriskova uranium deposit prepared by independent consultant, Pincock, Allen & Holt. (see news release dated July 27, 2009). The results are summarized in the following table:
To download a PDF version of the full Kuriskova Preliminary Assessment study (13mb), click here. Project Upside Tournigan Energy believes that the Kuriskova property has excellent upside potential for expanding the size and overall grade of the deposit through continuing exploration. Of significance is the zone of high-grade uranium mineralization which remains open to the north and east of the currently-defined Indicated Resource. In addition to targets immediately adjacent to the defined resource, recently completed ground radiometric and radon gas-in-soil surveys indicate the presence of anomalies extending up to 300 meters northwest and 200 meters southeast of the currently defined resource (see 2009-2010 Exploration Map below). Further interpretation of these new survey results may lead to identification of drill targets with potential to increase the size of the Kuriskova deposit or indicate the presence of satellite deposits. The Preliminary Assessment projects a nominal mining rate of 750-800 tonnes of mineralized material per day using the underhand cut and fill mining method with paste backfill. As further geotechnical and hydrogeological data for the project area are obtained, it may be possible to modify the mining method and increase the daily production rate and lower mining operating costs. Exploration success may add to the size and overall grade of the deposit which could also contribute to a higher production rate and lower unit mining costs. Other areas of upside for the project include: (1) reducing the project's preproduction period and possibly construction capital cost, and (2) optimizing the process plant flowsheet and operating costs. Current Resource: The current resource estimate is based on the report: "Updated NI 43-101 Technical Report on Resources, Kuriskova Uranium Project, Eastern Slovakia," prepared by SRK Consulting (U.S.) Inc. dated April 16, 2009 (the Independent Qualified Person for this report was Allan Moran of SRK) and summarized in the following table:
* Mo resource numbers represent Mo associated with Uranium resource blocks above a 0.05%U cutoff A complete table of the February 2009 resource estimate, prepared by Tournigan and reviewed, audited and approved by SRK, can be found from this link: http://www.tournigan.com/i/pdf/KuriskovaResourceFeb09AppendixA.pdf. The February 2009 resource estimate incorporates the results of 23 diamond drill holes totaling 9,267 metres that were drilled since the last resource estimate previously disclosed in a news release dated July 16, 2008. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, under the supervision of SRK, who have prepared an NI 43-101 technical report filed with SEDAR April 17, 2009. Allan V. Moran, principal geologist and Frank Daviess, principal resource geologist, who reviewed, audited and approved the current resource estimate, are both with SRK and are independent Qualified Persons as defined by NI 43-101. Location, Access and Infrastructure The Kuriskova property consists of 32 km2 of mineral claims approximately 5 km northwest of the city of Košice, a regional industrial centre in eastern Slovakia. The property, which is easily accessible, lies close to the main road between Košice in the southeast and the town of Spišska Nová Ves in the northwest. The project is accessible off the main road along a network of minor, unsurfaced tracks that traverse the forest, and give access to the project area. History Tournigan acquired a 100% interest in the Kuriskova uranium deposit and surrounding claims in 2005. Uranium mineralization was originally discovered at Kuriskova in 1985. Up to the time of the demise of the Soviet Union in 1989, all uranium exploration and mining in Czechoslovakia was conducted by State-owned organizations. In 1993 the state of Czechoslovakia split into the countries of the Czech and Slovak Republics. Work on state funded projects such as the Kuriskova deposits stopped in 1996 when the country returned to a market economy system and the state was unable to keep funding its mining projects. Geology The Kuriskova uranium deposit is part of a belt of largely strata-bound uranium-molybdenum deposits hosted in a sequence of Permian-age meta-volcanic/sedimentary rocks in eastern Slovakia. The deposit has a northwest-southeast strike, and a variably steep-moderate southwest dip (60 degrees in the upper part, 47 degrees in the lower part). The overall dimensions of the main zone of the deposit established to date by drilling, start about 120 metres below the surface and extend to a depth of approximately 650 metres below surface. The deposit has been defined approximately 650 metres along strike by 530 metres down-dip by 2.5 metres thick. Uranium and molybdenum mineralization is localized along the contact of overlying (younger) metamorphosed volcanic rocks and an underlying (older) unit of metamorphosed sediments (shales and quartzites) - see figure above. Most of the mineralization occurs within an andesitic volcanic unit and is only rarely observed in the underlying sediments. On a regional scale, the volcanic-sedimentary package that hosts the Kuriskova resource is Permian in age and lies within a large regional syncline (u-shaped fold) that is further deformed by sets of thrust and reverse faults and high-angle normal faults. The mineralized horizon appears to have repeated several times by stacked thrust and/or faults. Energy Policy of Slovakia On October 15, 2008, the Slovakian government approved a Strategy of Energy Security for the Slovak Republic. This strategy emphasizes the continued use of nuclear generated power as part of the country's energy mix and states: "Legislative and economic support of efficient and rational use of domestic sources of uranium ores has the potential to decrease the country's considerable dependency on supplies of energy resources."In 2007, approximately 55% of Slovakia's power production of 14,200 million kilowatt-hours was produced from nuclear power plants with a total capacity of 1,685 MW from four operating reactors. Slovakia is the world's third highest per capita consumer of nuclear generated power after France and Lithuania (World Nuclear Association, 2009). Slovakia's current uranium consumption is 313 tonnes per year. This does not include any future uranium requirements for reactors under construction or being proposed. Qualified Persons The Preliminary Assessment was prepared by an engineering team from Pincock, Allen & Holt (part of Runge Limited) of Lakewood, Colorado. Authors included Mr. Terry Laverty, a registered professional engineer, Mr. Tom Noyes, a registered professional engineer, and Mr. Ray Hyyppa, a registered professional engineer. Mr. Terry Laverty, the Independent Qualified Person under the standards of NI 43-101, was PAH's Project Manager. Dorian L (Dusty) Nicol, B.Sc. Geo, M.A. Geo., Tournigan's President and CEO, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained on this website. Updated January 5, 2010 |
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