u in peru and beyond, page-6

altho driilling is yet to start reserves are there and CTS has a jump start.....an extract from StockNews a few weeks back.

"Given that few miners expected uranium prices to be so high today -- at US$113 a lb. and set to climb further -- expertise in mining the hard, dense, silvery-white metal is in short supply in Peru. Australia's Contact Resources has teamed up with former members of Peru's nuclear authority IPEN to develop its Corachapi project, counting on their local geological expertise. The Perth-based company believes the area has the potential to yield a resource of up to 5 million tonnes and aims to start trial mining. Current studies show a global inferred resource of 3.8 million tonnes at 0.098% of uranium oxide with a high-grade core of 1.1 million tonnes grading 0.4%, or 9.2 million lbs. uranium oxide. Contact also has the neighbouring Kikitian uranium property about 15 km east of Corachapi.