URANIUM DEVELOPMENT – Cameco issues Cigar Lake update

SASKATCHEWAN - CAMECO CORP. of Saskatoon says its crews have essentially sealed off the inflow of water that halted...
SASKATCHEWAN - CAMECO CORP. of Saskatoon says its crews have essentially sealed off the inflow of water that halted development work at its Cigar Lake uranium development. Construction was about 60% complete when a rockfall and flooding occurred at the underground project in October 2006.

The water has been controlled by the installation of a concrete barrier plug and grouting it into the tunnel. The next step is to test the effectiveness of the plug by drawing down the water level in the shaft and measuring any continuing inflow. The test should be completed by the end of February 2008. Dewatering should be complete during the second half of the year.

The earliest production startup date remains 2011, according to Cameco. Visit www.Cameco.com for updates.

Meanwhile, the water inflow at the producing Rabbit Lake underground mine is being contained behind a pair of concrete bulkheads. The company believes water entered the mine though a decades-old exploration drill hole, which is also being plugged.

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