LONDON (Alliance News) - Berkeley Energy Ltd Monday said it has received "outstanding" intercepts from its infill drilling programme on the Zona 7 deposit at the Salamanca uranium project in Western Spain.
Berkeley shares were up 6% to 22.0 pence per share on Monday morning.
The company, formerly known as Berkeley Resources Ltd, said the latest drill results have confirmed the overall continuity of the mineralisation and have reported "significantly" higher grades.
The intercepts included 13 metres at 8,543 parts per million triuranium octoxide, 18 metres at 3,658 parts per million, and 52 metres at 1,909 parts per million.
It is anticipated that these results will increase the overall grade of the upgraded mineral resource estimate which is currently being estimated and will be reported shortly.
"As previously advised given the very positive impact the deposit is expected to have on the project's economics the board has decided to push ahead with the permitting required to rapidly incorporate this resource into the overall development of the Salamanca project," said Berkeley.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Berkeley Eng (BKY)