Marathon accelerates at Mt Gee

22 December 2007 | 04:36 Code : 16325 Geoscience events
Marathon Resources has announced an accelerated drilling program starting....

  Marathon Resources has announced an accelerated drilling program starting in the opening days of the New Year at its Mt Gee uranium project in South Australia—one of the largest undeveloped uranium projects in the country.This includes, for the first time, the use of a new multi-purpose drill rig, due to arrive on site in South Australia’s Northern Flinders Ranges in the first week of January.Marathon Director, Denis Wood said the company already has two drill rigs operating around the clock, and has drilled 16 holes to date, as part of a $7.2m, 50-hole program. “This accelerated drill program is part of the project’s enhanced development,” Mr Wood said. “The arrival of the third multi-purpose, reverse cycle and diamond drilling rig within weeks will provide us with an even more robust start to the New Year.”“It will also assist the company in achieving its goal of upgrading a significant proportion of the present resource to Indicated status.“We are on track to report all results from the current expanded drilling program in the June quarter of 2008, with data acquisition and pre-feasibility study activities continuing in tandem with the ramped up drilling program,” he said.Marathon has given the go-ahead for both a Pre Feasibility Study and Environmental Impact Study to begin at Mt Gee.“The purpose of the Pre Feasibility Study is to cost the technical viability of underground extraction of uranium ore to a near-site processing facility,” Mr Wood said.“This is a comprehensive and critical process, which is expected to be completed by March 2009. “The same applies with our Environmental Impact Study, which is a crucial component to the future of our project,” he said.

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