Company Reports > Cue Resources Ltd.

 

CUE.V    

 

Report Date :  

 December 2010

Telephone :  

 604-568-2080

Symbol :  

 TSX-V : CUE

Facsimile :  

 604-684-2990
   

eMail :  

 info@cue-resources.com

Contact :  

 

URL :  

 www.cue-resources.com
 

One of the strongest fundamental supply/demand arguments now being discussed in the mining world of late has been the resurgence of both demand and price in the world of fuel-grade uranium developments. Several nations, specifically including China, Germany, Japan and the USA have announced plans to increase reliance upon pollution-free nuclear power and the market price of uranium has responded to these developments by surging of late,


Vancouver-based Cue Resources Ltd., through its 100%-owned Yuty Project located in the South American nation of Paraguay, is working diligently to take advantage of this growing interest in uranium developments.


Yuty has had a long history of exploration and development prior to Cue's final acquisition in September, 2008 and the exploration data which has accumulated over more than 30 years has provided the company with a valuable library of information. Based on this collection of data including 266 previous drill holes plus drilling by Cue of 218 holes totaling about 28,000 meters between June, 2007 and August, 2008, the company was able to issue an NI 43-101 compliant Partial Resource Estimate in April, 2009 which showed an Indicated resource of  9.0 million tonnes @0.042% eU3O8 containing 8.3 million lbs eU3O8 and an Inferred Resource of 1.1 million tonnes @0.05% eU3O8 containing 1.2 million lbs eU3O8.  


There are four ore zones at the Yuty Project and most attention is now centered on developing the San Antonio Zone which has been the focus of the majority of previous exploration work. On November 23, 2010 the company announced it was commencing the continuation of drilling at San Antonio. The new program will consist of 30 holes totaling approximately 3,600 meters and is designed to test the western extension of the main deposit. Three drill rigs are being employed in order to meet the projected completion goal of year-end 2010. This drill program is a follow-up on earlier exploration work started by Cue in 2007.


Cue has been able to obtain a 20-year exploration/exploitation concession law which was granted by the Paraguayan government in August 2008 and one notable feature is there are no restrictions on exporting product. Given the anticipated future increases in fuel-grade uranium demand from outside nations, this feature could be of considerable importance to Cue in coming years.
Cue's near-term goals include increasing the resource near-term to over 10,000,000lbs; advancing exploration to the SW to develop a further 3-4 million lbs of resources; and also working to maximize resource grades.

 

NOTE: A full report will be completed following a property visit to Yuty at the earliest opportunity.

 
Cue Resources Ltd.

1430 - 800 West Pender Street
Vancouver, BC V6C 2V6

Telephone :

  604-568-2080

Facsimile :

  604-684-2990
 
 

The Melman Report

244 - 2465 Apollo Dr.
Nanoose Bay, BC
V9P 9K2
 
T. 250.947.5505
F. 250.468.7027

D I S C L A I M E R
 
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