Just nine months after listing, Kingsland Minerals have have confirmed an inferred mineral resource of more than 5 million pounds at its Cleo uranium deposit, part of its Allamber project in Australia’s Northern Territory.
The triuranium octoxide deposit remains open at depth and along strike, and the explorer is not resting on the laurels of its freshly unfurled uranium resource.
Everyone involved, including field geologists, assay labs, resource consultants, the local
pastoralist and all other consultants and contractors are to be thanked and congratulated on this
outcome,” Kingsland Minerals Managing Director, Richard Maddocks said.
“There is still unfinished work at Cleo with mineralisation open along strike and at depth.
“This first MRE sets a firm platform upon which to build the resource base for Cleo.
“We look forward to further success growing the Cleo Mineral Resource.”
And Kingsland have more to build on top of Cleo, holding expansive uranium assets across Western Australia and the Northern Territory as outlooks on demand turn nuclear.
Uranium Market Outlook
The demand for uranium is expected to increase due to the growing demand for nuclear power, which is considered as an alternative to reduce carbon emissions.
According to a recent report by the World Nuclear Association, the global nuclear energy capacity is expected to increase by 3.9% per year over the next decade, which would require an additional supply of uranium.
On the supply side, some of the major uranium-producing countries such as Kazakhstan, Canada, and Australia are expected to increase their production in the near future.
