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Kuriskova Uranium DepositKuriskova Uranium Deposit - Slovak Republic - 100% interest in licencesThe Kuriskova property consists of 32 square kilometres of mineral licenses situated approximately 10 km northwest of the city of Kosice, a regional industrial centre in East-Central Slovakia. The current uranium resource at Kuriskova, announced in March, 2010 and reviewed, audited and approved byTetra Tech, Inc. comprises:
17.5 million pounds U3O8 inferred resource an average grade of 0.228% U3O8 (cut-off of 0.05%U, NI 43-101 compliant). Current Resource: On March 24, 2010 Tournigan announced an updated resource estimate for the Kuriskova uranium deposit which significantly increased the amount of uranium contained in the Indicated resource and increases the overall size and grade of the deposit. Tetra Tech, Inc., the firm that is conducting the ongoing prefeasibility study on Kuriskova, reviewed and audited the updated resource estimate. Highlights of the updated estimate include:
* Mo resource numbers represent Mo associated with Uranium resource blocks above a 0.05%U cutoff To download a PDF version of the March, 2010 Kuriskova Resource Estimate (filed on SEDAR May 10, 2010 (7mb), click here. Changes in the resource boundaries since the previous resource estimate announce February 2009, are shown on this image: A complete table of the new resource estimate prepared by Tournigan and reviewed, audited and approved by Tetra Tech, Inc., can be viewed on this link: http://www.tournigan.com/i/pdf/March24-Appendix-A.pdf. 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:
*After commencement of production 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). Initial drilling of these anomalies led to the discovery of a new zone of high-grade uranium mineralization. This zone, which is called Zone 45, has an average grade of 0.677% U3O8 and remains open along strike. Further drilling of this zone has the potential to add significant amounts of high-grade uranium mineralization to the resource. In addition, there are other anomalies within the Kuriskova license which lead Tournigan to believe that there is potential to continue increasing the size of the deposit both immediately adjacent to the currently defined Kuriskova resource and in the surrounding exploration licemse. 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. A graphic showing the changes in outlines of the resource zones can be found in Appendix B from this link: http://www.tournigan.com/i/jpg/March24-Appendix-B.jpg. 2009-2010 Exploration The objective of Tournigan's 2009-2010 drilling program at Kuriskova has been 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 March 24, 2010 resource estimate incorporates the results of 28 diamond drill holes totaling 7,548 metres that were drilled since the last resource estimate disclosed February 24, 2009. To complete the prefeasibility, Tournigan has planned for an additional 9,500 metre drill program for the balance of 2010.
2009-2010 Exploration Map  Click to View Full-Sized PDF Location, Access and Infrastructure The Kuriskova property consists of 32 km2 of mineral claims approximately 10 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 March 30, 2010 |
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