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Black Range Minerals To Update Financing, Development Of Ablation Technology

Jul. 03, 2013 1:04 AM ET
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Black Range Minerals' (ASX: BLR) shares are in pre-open this morning following the ASX granting the company a trading halt, pending an announcement on financing - and an update on the development of the Ablation technology.

Ablation is a technology that facilitates non-chemical concentration of uranium deposits at the mine site.

Testwork at the company's Hansen Deposit indicates U3O8 recoveries up to 99% in ~10% of the mass. The technology has the potential to dramatically reduce capital requirements, transport and operating costs and permitting lead times.

Black Range is looking to apply the technology at the Hansen/Taylor Ranch Project, as well as other opportunities globally.

The Hansen/Taylor Ranch Uranium Project is located in Colorado, U.S., and hosts JORC Resources of 90.9Mlbs U3O8 at 600ppm.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 5th July 2013.

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