Paladin Energy aims to crack uranium big league with Canadian takeover
Paladin would churn out 10% of global uranium output after combining production of its Namibian mine with Fission’s Canadian project.
Canadian Silver Bear Resources (TSX:SBR) posted Wednesday an operational update and announced its financial results for the first quarter of 2012.
Exploration crews arrived at site in April 2012 and started by the end of the month on Silver Bear’s Mangazeisky lease located in Yakutia, Russia.
This year the drilling conducted was concentrated around the area called Nizhny Endybal within the property.
To date approximately 1000 meters have been drilled with mineralization being intersected in three of the five holes drilled. The mineralization is hosted within brecciation and stockwork development also seen in some of the nearby holes drilled in last year’s exploration program.
The lateral width of the mineralised zone within this area has not yet been precisely determined, however, estimates are approximately 50 metres.
More details on Silver Bear’s press release.
