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Overview
Tournigan holds 100% interest in six uranium licenses covering 151.8 km2 within the 60-kilometre strike length of the Slovak Carpathian uranium belt. The licenses are located approximately 350 kilometres northeast of the capital city of Bratislava.
Tournigan's flagship Kuriskova property is a high-grade uranium deposit in Eastern Slovakia. A prefeasibility study completed in January 2012 demonstrates that Kuriskova has the potential to be one of the world's lowest cost uranium producers. The current NI 43-101 compliant resource at Kuriskova is 28.5 million pounds U3O8 indicated contained in 2.3 million tonnes at 0.555% U3O8 and 12.7 million pounds U3O8 Inferred contained in 3.1 million tonnes at 0.185% U3O8; cut-off of 0.05%U. In addition, there are multiple exploration targets within the license area that have the potential to expand the resource significantly.
Based on estimated Indicated Resources, mineral reserves (including dilution tonnage of 5% at a grade of 0.03% U) were estimated at 2.5 million tonnes at an average grade of 0.346%U which was determined to provide an underground mining rate of about 210,000 ore tonnes per year at an economic cutoff of 0.13% U3O8 for approximately 13 years. No Inferred Resources were used in the reserve calculation or mine plan.
Approximately 50 kilometres northwest of Kuriskova is the Novoveska Huta uranium deposit where a NI 43-101 compliant resource has been estimated at 3.75 million pounds of U3O8 in Measured and Indicated Resources of 1.662 million tonnes grading 0.102% U3O8; and an additional 12.738 million pounds of U3O8 in Inferred Resources of 4.689 million tonnes grading 0.123% U3O8, using a cutoff grade of 0.06% U.
Tournigan's additional exploration licenses in Slovakia contain promising early stage uranium targets.
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