URANIUM: Government overturns Yeelirrie decision

WESTERN AUSTRALIA – Cameco Corp. of Saskatoon finally has some good news about its Yeelirrie uranium project 650 km northeast of Perth. The state government has overturned an Environmental Protection Authority recommendation that the project not proceed. [caption id="attachment_1003716784" align="alignright" width="300"] The core shack at the Yeelirrie project in Western Australia.[/caption] Cameco continues to advance the permitting process at the project, but has offered no timeline for development. The deposit is one of Australia’s largest undeveloped uranium resources and is amenable to open pit mining. The Yeelirrie deposit was discovered in 1972, but it wasn’t until 2012 that Cameco paid US$430 million to acquire the property from BHP Billiton. The deposit contains total measured and indicated resources of 12.6 million tonnes averaging between 0.13% and 0.17% U₃O₈. Contained uranium totals 127.3 million lb. Learn more about Yeelirrie and Cameco’s other uranium properties at www.Cameco.com.