redport increases resource estimate at lake maitla

Redport Ltd
(ASX:RPT) has an increase in the resource estimate at the Lake Maitland
uranium project, Western Australia.
The JORC compliant inferred mineral resource at the project of
10,747 tonnes uranium (cut-off 100ppm) follows an evaluation of the
results from the last round of drilling as well as historical drilling
and assay data.
"Almost half of the uranium resource, or 4,759 tonnes is
contained within a high grade core," executive director Peter McNally
said.
"The Lake Maitland uranium project hosts one of Australia's
larger undeveloped uranium deposits, with an insitu metal value of close
to $1 billion."
The high grade core could be mined in the early years of the
project which should enhance the economics of the project, he added.
Redport is fast tracking plans to upgrade the current resource to
JORC compliant indicated and measured categories.