WA firm in uranium study work in Spain

Perth-based Berkeley Resources Ltd has been selected by a Spanish company to form a partnership that will investigate the development of uranium assets in Spain.

Berkeley along with ENUSA Industrias Avanzadas S.A will conduct a feasibility study on the latter's uranium assets which include a number of state reserves that have been extensively explored but do not currently have a definitive resource.

The partnership also includes access to the Quercus uranium processing plant, which was
operated by ENUSA until 2003 and has been in care and maintenance since then.

Berkeley said it will complete a feasibility study on mining the state reserves and processing through the Quercus plant.

In parallel, Berkeley will continue to advance its wholly owned projects in Spain which currently has a JORC resource of 16.9 million pounds of uranium oxide, which could be processed through the Quercus plant located 30 kilometres away.

The companies are continuing to negotiate the terms of the partnership and do not expect it to be completed until after the Spanish summer vacation.

The agreement will then be submitted to the Spanish Council of Ministers for approval.