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From http://www.world-nuclear-news.org/C-Alliance-turns-down-Four-Mile-offer-2402157.html
MNE target grows
Alliance followed its rejection of Quasar's offer with the announcement of an updated exploration target for the FMNE prospect. As defined by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC), an exploration target is a statement or estimate of the exploration potential of a mineral deposit relating to mineralisation for which there has been insufficient exploration to estimate a mineral resource.
The new target stands at 14 million tonnes of mineralisation at grades of 0.23-0.30% U3O8, representing 32,000 to 35,500 tonnes of contained U3O8 (27,100-29,700 tU).
Alliance notes that the main change is to the lower limit of the exploration target, with the upper limit remaining largely unaltered.
The company says the latest drilling data may be sufficient to make an inferred mineral resource estimate over a large part of the FMNE area. Alliance has based its announcement on information supplied by Quasar to ACE.
Md