Nuclear regulator accepts Lance uranium project expansion in Wyoming, US

4 February 2016 (Last Updated February 4th, 2016 18:30)

The US Nuclear Regulatory Commission (NRC) has accepted Peninsula Energy's plans to expand its Lance uranium project in Wyoming.

The US Nuclear Regulatory Commission (NRC) has accepted Peninsula Energy's plans to expand its Lance uranium project in Wyoming.

NRC accepted the company's wholly owned subsidiary Strata Energy's application submitted in 2015 requesting to amend its existing Source Materials License SUA-1601 at Lance to include the Kendrick expansion area within the Ross permit area.

On 30 September 2015, NRC initiated its acceptance review process of the company's expansion request and now notified that the application is complete.

"Development of the Kendrick Expansion Area is an integral part of production growth plans at the Lance projects."

The application has been accepted for detailed technical and environmental review, with details not yet been revealed by NRC.

Located next to Ross, Kendrick is scheduled to come online during the 2019 calendar year under the current life of mine plan and will supply uranium to the central processing plant.

Peninsula Energy managing director and CEO John (Gus) Simpson said: "We are pleased that the NRC is now progressing the detailed review of the application.

"Development of the Kendrick Expansion Area is an integral part of production growth plans at the Lance Projects."

Peninsula received authorisation from NRC in December last year to begin in-situ uranium recovery operations from the Ross Permit Area at the Lance projects.

The Lance projects have 305 line kilometres of identified roll fronts and an exploration target of 104-163mlbs U3O8.

Stretching over 50km north-south, the roll fronts are open to the north, south and west.