Virginia Energy Resources Inc. (TSX-V: VAE) has announced the start of a Scoping Study at the Coles Hill uranium project. The company commissioned Lyntek Inc. to lead the study, which is planned for completion in the first half of 2010.
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The study will provide an analysis of the project economics. Virginia Uranium Inc. is the operator for the Coles Hill project. Virginia Energy Resources will own a 28% indirect equity interest in the Coles Hill deposit after funding the 2010 operating budget on the project.
Virginia Energy Resources Inc., formerly Santoy Resources Ltd., is a mineral exploration company. The Company is focused on the energy sector with emphasis placed on uranium projects in Virginia, Saskatchewan, Quebec and Labrador, and on coal in Western Canada.
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