Membrane Study delivers cost savings to Etango

PERTH, Australia, April 11, 2018 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN) (NSX:BMN) (Bannerman or the Company) is pleased to announce that the Etango Membrane Study has been completed successfully, delivering substantial reagent/operating cost reductions along with forecast capital savings, the final quantum of which is to be confirmed in the Etango Definitive Feasibility Study Update (DFS Update).

HIGHLIGHTS

• Nano-filtration delivers substantial potential cost savings

• Over 80% of acid recovered, reducing largest reagent cost
• Corresponding decrease in acid-neutralisation chemical volumes
• Potential capital savings through reduction in downstream equipment size

• Membrane Study demonstrates nano-filtration benefits to Etango

• Confirmed recovery of acid for re-use
• Uranium solution upgraded almost ten-fold
• Confirmed residual deleterious elements can be efficiently removed before uranium precipitation
  

• Confirms Ion Exchange (IX) with nano-filtration (NF) favourable over Solvent Extraction (SX)

• Enables IX/NF process to replace SX in DFS Update
• Both economic and operational advantages in the IX/NF process route
• Membrane Study provides valuable process input in DFS Update

Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “The amenability of the Etango Project to recent advances in established nano-filtration technology is an exciting outcome that further confirms the robust economics and low technical risk of the Etango project.  Our technical team undertook the Membrane Study diligently and comprehensively, utilising the unique advantages Bannerman’s Heap Leach Demonstration Plant offers, in particular the access to industrial-scale uranium bearing solution generated from the Etango orebody.  I am delighted that this success further enhances Etango, both economically and operationally, as a world-class, highly-advanced and strategically important uranium project.”

The full announcement is available on Bannerman’s website at www.bannermanresources.com and on SEDAR (www.sedar.com).

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About Bannerman - Bannerman Resources Limited is an ASX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction.  Bannerman’s principal asset is its 95%-owned Etango Project situated near Rio Tinto’s Rössing uranium mine, Paladin’s Langer Heinrich uranium mine and CGN’s Husab uranium mine. A definitive feasibility study has confirmed viability of a large open pit and heap leach operation at one of the world’s largest undeveloped uranium deposits. From 2015-2017, Bannerman conducted a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman’s website at www.bannermanresources.com.