progress report

PROGRESS REPORT ? HANSEN URANIUM
DEPOSIT DRILLING PROGRAM
Highlights
 Drilling to acquire additional technical data to update
feasibility studies into the development of the Hansen
Uranium Deposit continues to progress well.
 Further thick, high-grade mineralisation intersected in
drilling, including:
 11.1 metres at 0.111% eU3O8, including
4.1 metres at 0.165% eU3O8, and
1.8 metres at 0.200% eU3O8
 1.7 metres at 0.138% eU3O8
Black Range Minerals Limited (ASX: BLR; ?Black Range? and
the ?Company?) is pleased to advise that its drilling program at the
Hansen Uranium Deposit in Colorado, USA (see Figure 1)
continues to progress well.
The Company is currently drilling eight diamond core holes at the
Hansen Deposit (see Figure 2) and plans to drill a further three
diamond core holes at the Picnic Tree Deposit (see Figure 3) to
obtain additional geological, geotechnical, metallurgical and
hydrological data.
These data will be used to update the previous feasibility studies
that were undertaken into the development of the Hansen Deposit
during the early 1980s. A decision on the best development path
for the Project will then be made.
The Company is currently drilling the eighth (and final) hole at the
Hansen Deposit. The rig will then be moved to the adjacent Picnic
Tree Deposit to complete the proposed drilling program.
Results from the first four holes drilled at the Hansen Deposit have
been reported previously. The fifth hole at Hansen (HNDD0005)
was drilled primarily to obtain geotechnical information towards
the northern end of the previously planned open pit (see Figure 2).
Despite this it intersected thick, high-grade mineralisation,
including:
 11.1 metres at 0.111% eU3O8, including
4.1 metres at 0.165% eU3O8, and
1.8 metres at 0.200% eU3O8
 1.7 metres at 0.138% eU3O8
The sixth and seventh holes drilled at the Hansen Deposit
BLR ? Progress Report ? Hansen Uranium Deposit Drilling Program Page 2 of 7
(HNDD0006 and HNDD0007) were purposely drilled on the edge of the proposed open pit (see Figure
2), entirely for geotechnical and hydrological assessment. As expected, only minimal mineralisation
was intersected in these holes (see Table 2).
The current drill hole at the Hansen Deposit is expected to be completed within the next 7-10 days.
The drilling rig will then complete the three planned holes at the Picnic Tree Deposit. These holes are
somewhat shallower than the holes drilled at the Hansen Deposit, so it is anticipated that these will be
completed towards the end of September/early October. Mine design work for the Hansen Deposit will
commence shortly, while the holes at the Picnic Tree Deposit are being drilled.
Background ? Hansen/Taylor Ranch Uranium Project
The Hansen Uranium Deposit was discovered in 1977 and fully permitted for mining in 1981. The
global uranium market subsequently collapsed and mining never eventuated.
More than 1,000 holes were drilled and three feasibility studies completed to evaluate the Hansen
Deposit previously.
The Company now holds a direct 24.5% equity interest in the Hansen Uranium Project that covers
approximately 3,500 acres and includes the Hansen and Picnic Tree Uranium Deposits. It also holds
the exclusive right to secure the remaining 75.5% interest in this Project area, together with the
exclusive right to acquire a 100% interest in a further 9,500 acres at the Taylor Ranch Uranium
Project, which is located immediately adjacent to, and north of, the Hansen Project.
When applying a 0.025% cut-off grade, the JORC Code compliant indicated and inferred resource for
the combined Hansen/Taylor Ranch Uranium Project comprises:
68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8
The high-grade and robust nature of the mineralisation at the Hansen/Taylor Ranch Project is
demonstrated when applying a 0.075% cut-off grade to the resource calculation. The JORC Code
compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project
then comprises:
16.6 Mt at 0.120% U3O8 for 43.8 million pounds of U3O8
The combined Hansen/Taylor Ranch Uranium Project is one of the largest uranium projects within the
USA ? which as a nation is the largest consumer of uranium in the world. With domestic mines within
the USA producing less than 10% of the uranium consumed in the country on an annual basis, the
development of such a large and strategic asset should be regarded highly.
Black Range continues to advance feasibility and environmental studies at the Hansen/Taylor Ranch
Uranium Project as quickly as possible.
Mike Haynes
Managing Director