The company had recently increased the uranium resource at its Bennet Well deposit in Western Australia by 18% to 18.6 million pounds of contained uranium with 29% of this classified as Indicated.
It plans to drill in excess of 100 holes to define in situ leach characteristics at Bennet Well with the target of leach trials in 2015.
Bennet Well is part of the Yanrey - Bennet Well Project, which has recently been attracting significant funding from China investors.
This included $4 million in July through a placement to Chinese investor Starry World Investment Ltd, which followed on from the $11 million in funding from other Chinese investors that it had closed the month prior.
Previous metallurgical studies completed on core show uranium recoveries of 94%-96%, which places the project squarely on the project development pathway.
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