OREANDA-NEWS. August 19, 2010.  As part of its effort to develop the Conditions Feasibility Study and Pre-Feasibility Study for Elkon MMC, ARMZ carried out an audit of resources of five deposits within Yuzhnaya Zone in the Elkon Uranium Province, Republic of Sakha (Yakutia).

The aggregate uranium reserves amount to 229,800 tons of which 71,300 tons are within Measured + Indicated category and 158,500 tons fall under the Inferred category. The average uranium ore grade is 0.143%.

These figures are close to the reserve estimation performed in 1980 and approved by the State Reserves Commission of the USSR (257,800 tons U of В+С1+С2 categories with average uranium grade of 0.146%).

The estimation was performed by Micromine Consulting on the basis of the JORC Code and further confirmed by a competent person. Reserves estimation carried out in accordance with the international standards will enhance the investment appeal of the Elkon MMC project and make it more transparent and clear to potential investors.

By its resources the Elkon project is second to none in Russia and is the second largest worldwide.