The Lance uranium project, in Wyoming, US, is set to restart production late in the fourth quarter, Australia-listed Peninsula Energy reported on Tuesday.
The company stated that site construction and preparation activities were continuing and that solid progress had been made for an operational restart before calendar year-end.
“The months ahead will be busy, but our team are ready and we have our eye on the prize of becoming the next ASX-listed uranium company set to enter production,” said Peninsula MD and CEO Wayne Heili.
Lance is one of the biggest uranium in-situ recovery (ISR) projects in the US, underpinned by a 58-million-pound uranium oxide resource.
“We are looking forward to growing our flagship project into a key supplier of high-quality yellowcake,” said Heili.
In an update on activities in August, Peninsula said that the Phase 2 plant expansion construction activity was at a high level with about 70 contract construction workers at site daily.
The construction schedule has shifted to a 24-hour roster, allowing different construction disciplines to work continuously with minimal conflicts.
In addition to plant construction activities, the company’s employees and drilling contractor teams are actively developing the new wellfield production areas Mine Unit 3 and Mine Unit 4.
The company has 11 drilling rigs under contract to work at the site.
Drill rigs continue to install new ISR pattern in MU-3. To date, 76% of the planned pattern wells have been drilled and cased. Drilling activity in MU-3 is projected to be completed late in the fourth quarter.
Five drill rigs have been assigned to resource delineation and monitoring well installation activities for MU-4. The drilling and casing of interior monitoring wells commenced in August.
Construction of the wellfield infrastructure (pipelines, powerlines, fences, roads) for the entire MU-3 area is 80% complete.