The processing plant at the Ross permit area, part of the larger Lance project in northeastern Wyoming. Credit: Peninsula Energy
Peninsula Energy (ASX: PEN) announced that it has received approval from Wyoming’s Uranium Recovery Program (URP) to commence start-up of Phase 2 of the central processing plant (CPP) at the Lance project.
Lance represents one of the largest US uranium projects in size and scale, with a defined JORC (2012) resource of 58 million lb. of uranium oxide (U3O8). The mine restart plan envisions an initial 10-year in-situ recovery operation with a production estimate of 4.1 million lb. from the Ross area, then moving onto the Kendrick area.
The approval means that Peninsula can now progress transferring uranium on resin into Phase 2 of the CPP, utilizing recovery process solutions to operate the process circuits. No further regulatory approvals are necessary to commence commercial production in Wyoming, the company said.
On completion of Phase 2 construction, the Lance projects will be home to a 5,000 GPM uranium recovery ion-exchange process plant, with the capability to independently produce up to 2 million lb. per annum of dry yellowcake product, the company said in December.
“The approval from the Wyoming URP is another encouraging development, demonstrating the integrity and safety of what we have built at the CPP,” Peninsula Energy CEO George Bauk said in a news release.
“We look forward to start feeding uranium on resin from Phase 1 to Phase 2 of the CPP, completing the reset plan and working toward the production of dried yellowcake during this quarter,” Bauk added.
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