OREANDA-NEWS. October 13, 2010.   Within the framework of developing the Conditions Feasibility Study and Pre-Feasibility Study for the construction of Olovskaya GKhK, ARMZ Uranium Holding reassessed the raw materials base of Olovskoe Deposit located in the Transbaikalia Territory. The assessment was performed with the participation of SRK Consulting in accordance with JORC International Code and was confirmed by a competent authority.

The aggregate uranium resources amounted to 13.8 thousand t, of which 12.2 thousand t are classified as Measured + Indicated Resources and 1.6 thousand t as Inferred Resources.

The assessment received is close to the calculation of reserves (11.7 thousand t of В+С1+С2 uranium reserves categories, with average ore uranium content of 0.082%) performed in 1963 and registered at the State Reserves Commission of the USSR.

Assessment of reserves under international standards will improve the investment appeal of the project and will make it more transparent and understandable for potential investors.