Urano Energy Completes Initial Review of Historical Uranium Reserves and Resources
Urano Energy (CSE: UE, OTCQB: UECXF) has completed its initial review of historical uranium reserves for three projects in Colorado: Bachelor, Dulaney, and La Sal Creek. These uranium-vanadium projects, located in the Uravan Mineral Belt and La Sal Creek District, represent approximately 5% of the company's recently acquired 15-property package.
Key highlights include:
- The projects cover 20 lode mining claims spanning 425 acres
- Addition of 477,000 historical pounds of uranium (U3O8), bringing total historical reserves to 714,000 pounds
- Properties are hosted in the Saltwash Member of Morrison Formation
- The company possesses detailed reports and maps indicating historical uranium reserves remaining after mining ceased 40+ years ago
The Uravan Mining District has historically produced 80 million pounds of uranium and over 400 million pounds of vanadium since 1945. The company expects its uranium mineral reserve inventory to increase substantially as analysis continues across its portfolio of 345 lode mining claims and 3 Utah State Mineral Leases, covering 8,200 acres.
Urano Energy (CSE: UE, OTCQB: UECXF) ha completato la sua revisione iniziale delle riserve storiche di uranio per tre progetti in Colorado: Bachelor, Dulaney e La Sal Creek. Questi progetti di uranio-vanadio, situati nel Uravan Mineral Belt e nel distretto di La Sal Creek, rappresentano circa il 5% del pacchetto di 15 proprietà recentemente acquisito dall'azienda.
I punti salienti includono:
- I progetti coprono 20 concessioni minerarie su una superficie di 425 acri
- Aggiunta di 477.000 libbre storiche di uranio (U3O8), portando il totale delle riserve storiche a 714.000 libbre
- Le proprietà si trovano nel Saltwash Member della Morrison Formation
- L'azienda possiede rapporti dettagliati e mappe che indicano le riserve storiche di uranio rimaste dopo la cessazione dell'attività mineraria oltre 40 anni fa
Il distretto minerario di Uravan ha storicamente prodotto 80 milioni di libbre di uranio e oltre 400 milioni di libbre di vanadio dal 1945. L'azienda si aspetta che il suo inventario di riserve minerali di uranio aumenti sostanzialmente man mano che l'analisi continua attraverso il suo portafoglio di 345 concessioni minerarie e 3 contratti di locazione mineraria dello Stato dello Utah, coprendo 8.200 acri.
Urano Energy (CSE: UE, OTCQB: UECXF) ha completado su revisión inicial de las reservas históricas de uranio para tres proyectos en Colorado: Bachelor, Dulaney y La Sal Creek. Estos proyectos de uranio-vanadio, ubicados en el Uravan Mineral Belt y el distrito de La Sal Creek, representan aproximadamente el 5% del paquete de 15 propiedades recientemente adquirido por la empresa.
Los aspectos destacados incluyen:
- Los proyectos abarcan 20 reclamos mineros que se extienden por 425 acres
- Adición de 477,000 libras históricas de uranio (U3O8), llevando el total de reservas históricas a 714,000 libras
- Las propiedades están ubicadas en el Saltwash Member de la Morrison Formation
- La empresa posee informes detallados y mapas que indican las reservas históricas de uranio que permanecen después de que la minería cesó hace más de 40 años
El distrito minero de Uravan ha producido históricamente 80 millones de libras de uranio y más de 400 millones de libras de vanadio desde 1945. La empresa espera que su inventario de reservas minerales de uranio aumente sustancialmente a medida que continúe el análisis de su cartera de 345 reclamos mineros y 3 arrendamientos minerales del Estado de Utah, cubriendo 8,200 acres.
우라노 에너지 (CSE: UE, OTCQB: UECXF)는 콜로라도의 세 프로젝트인 배첼러, 둘라니, 라 살 크릭에 대한 역사적인 우라늄 매장량의 초기 검토를 완료했습니다. 이 우라늄-바나듐 프로젝트들은 우라반 광물 벨트와 라 살 크릭 지구에 위치하며, 최근 인수한 15개 자산 패키지의 약 5%를 차지합니다.
주요 하이라이트는 다음과 같습니다:
- 프로젝트는 425에이커에 걸쳐 20개의 광산 청구권을 포함합니다
- 477,000파운드의 역사적인 우라늄 (U3O8)을 추가하여 총 역사적 매장량을 714,000파운드로 증가시킵니다
- 자산은 모리슨 포메이션의 솔트워시 멤버에 위치해 있습니다
- 회사는 40년 이상 전에 채굴이 중단된 후 남아 있는 역사적인 우라늄 매장량을 나타내는 상세한 보고서와 지도를 보유하고 있습니다
우라반 광산 지구는 1945년 이후로 역사적으로 8천만 파운드의 우라늄과 4억 파운드 이상의 바나듐을 생산했습니다. 회사는 3개의 유타 주 광물 임대권과 345개의 광산 청구권에 걸쳐 8,200에이커를 포함하는 포트폴리오 분석이 계속됨에 따라 우라늄 광물 매장량 재고가 상당히 증가할 것으로 예상하고 있습니다.
Urano Energy (CSE: UE, OTCQB: UECXF) a terminé son examen initial des réserves historiques d'uranium pour trois projets au Colorado : Bachelor, Dulaney et La Sal Creek. Ces projets d'uranium-vanadium, situés dans la ceinture minérale d'Uravan et le district de La Sal Creek, représentent environ 5 % du paquet de 15 propriétés récemment acquis par l'entreprise.
Les points clés incluent :
- Les projets couvrent 20 revendications minières s'étendant sur 425 acres
- Ajout de 477 000 livres historiques d'uranium (U3O8), portant le total des réserves historiques à 714 000 livres
- Les propriétés sont situées dans le Saltwash Member de la Morrison Formation
- L'entreprise possède des rapports détaillés et des cartes indiquant les réserves historiques d'uranium restantes après l'arrêt de l'exploitation minière il y a plus de 40 ans
Le district minier d'Uravan a historiquement produit 80 millions de livres d'uranium et plus de 400 millions de livres de vanadium depuis 1945. L'entreprise s'attend à ce que son inventaire de réserves minérales d'uranium augmente considérablement à mesure que l'analyse se poursuit à travers son portefeuille de 345 revendications minières et 3 baux minéraux de l'État de l'Utah, couvrant 8 200 acres.
Urano Energy (CSE: UE, OTCQB: UECXF) hat seine erste Überprüfung der historischen Uranvorkommen für drei Projekte in Colorado abgeschlossen: Bachelor, Dulaney und La Sal Creek. Diese Uran-Vanadium-Projekte, die im Uravan Mineral Belt und im La Sal Creek District liegen, repräsentieren etwa 5% des kürzlich erworbenen 15-Property-Pakets des Unternehmens.
Wichtige Highlights sind:
- Die Projekte umfassen 20 Bergbauansprüche, die sich über 425 Acres erstrecken
- Zusatz von 477.000 historischen Pfund Uran (U3O8), was die gesamten historischen Reserven auf 714.000 Pfund erhöht
- Die Grundstücke befinden sich im Saltwash Member der Morrison Formation
- Das Unternehmen verfügt über detaillierte Berichte und Karten, die die historischen Uranvorkommen anzeigen, die nach der Beendigung des Bergbaus vor über 40 Jahren verblieben sind
Der Uravan Mining District hat seit 1945 historisch 80 Millionen Pfund Uran und über 400 Millionen Pfund Vanadium produziert. Das Unternehmen erwartet, dass sein Bestand an Uran-Mineralreserven erheblich ansteigt, während die Analyse seines Portfolios von 345 Bergbauansprüchen und 3 Mineralpachtverträgen im Bundesstaat Utah, die 8.200 Acres abdecken, fortgesetzt wird.
- Addition of 477,000 lbs of historical uranium reserves
- Total historical reserves increased to 714,000 lbs U3O8
- Properties located in proven Uravan Mineral Belt with significant historical production
- Potential for substantial reserve inventory increase as analysis continues
- Company holds detailed historical data and maps for future exploration
- Historical estimates not compliant with current NI 43-101 standards
- Additional review and confirmatory drilling needed to verify reserves
- No mining activity in over 40 years on these properties
CSE: UE
OTCQB: UECXF
www.uranoenergy.com
Highlights of the Colorado Properties with historical uranium and vanadium reserves:
- The deposits are hosted in the Saltwash Member of the Morrison Formation, a favorable host throughout the district;
- This preliminary evaluation covers approximately
5% of the acreage of the recently acquired 15 property package; - The projects cover a total of 20 lode mining claims spanning 425 acres (1.72 square kilometers);
- The three Properties in this review host drilled out historical estimated uranium and vanadium reserves, plus additional historical resources;
- The Company has detailed reports and maps for the three Properties indicating the location and disposition of the historical uranium reserves and resources remaining after cessation of mining over 40 years ago;
- With the addition of over 477 thousand historical lbs. of uranium ("U3O8"") reported for the three Properties, Urano's inventory of drilled out historical estimated uranium reserves includes approximately 714 thousand lbs. of uranium ("U3O8") including the Company's previously reported drilled out historical uranium reserves. (UE News Release dated October 23, 2024);
- The Company is continuing analysis and confirmation work to define additional historical uranium and vanadium reserves and resources across the portfolio of projects, all of which have been past producers. The Company has reports, drill hole and mine maps as well as reserves and resource estimates for a majority of the additional properties.
To view the project map, please visit: https://bit.ly/3QLF8w9
Jason Bagg, Chief Executive Officer of Urano Energy, stated, "The addition of the drilled out historical uranium reserves of nearly half a million pounds of uranium ("U3O8"") for Urano Energy's Bachelor, Dulaney and La Sal Creek properties is a real asset for the Company. With the continuing analysis of our current database of drilled out historical uranium reserves and resources, I expect Urano's historical uranium mineral reserve inventory to increase substantially over the coming months. In the longer term, most of the Company's properties are also known to include drill targets with a high potential for extension and/or new discoveries, thereby adding another dimension for building Urano Energy's uranium ("U3O8") mineral inventory."
Property Details
Property | State | County | Mineral Belt | Claims | Area | Status* |
Bachelor | Uravan | 10 | 206.0 | Past Producer – | ||
Dulaney | Uravan | 6 | 123.6 | Past Producer – | ||
La Sal Creek | La Sal Creek | 4 | 82.4 | Past Producer – | ||
TOTAL | 20 | 425.0 |
*Note: Past production does not guarantee future production. Significant additional confirmatory and exploration work is required to evaluate mineralization within historical deposit areas. |
The historical estimated uranium and vanadium reserves and resources for the Bachelor, Dulaney and La Sal Creek deposits are reported here.
Estimated Historical Uranium ("U3O8") and Vanadium ("V2O5")"Indicated & Inferred Ore" and "Mineral Resources"
Historical Estimated | Historical "Indicated+Inferred Ore" | Historical "Mineral Resource" | |||||
Property | Grade %U3O8 | Tons | Lbs. U3O8 | Grade %V2O5 | Lbs. V2O5 | Tons | Lbs. U3O8 |
Bachelor* | 0.28 | 18,537 | 104,528 | 1.20 | 442,131 | 51,334 | 132,457 |
Dulaney* | 0.24 | 34,557 | 193,412 | 1.44 | 1,158,578 | 7,449 | 15,102 |
La Sal Creek* | 0.26 | 34,824 | 179,170 | 1.15 | 801,812 | 4,008 | 60,288 |
Total | 87,918 | 477,110 | 2,402,521 | 62,791 | 207,847 | ||
*Source: Niesen, Preston L., Cotter Corp, March 12, 1999, Internal Memo to Rich Ziegler, "Ore Reserves as of January 1, 1999". Niesen estimated the U3O8 and V2O5 reserves and resources using the polygonal estimation methodology using a range of influence of 50 feet. |
A second historical Reserve and Resource Estimate is available for the Dulaney property as follows:
Historical Estimated | Historical "Indicated+Inferred Ore" | Historical "Mineral Resource" | |||||
Property | Grade %U3O8 | Tons | Lbs. U3O8 | Grade %V2O5 | Lbs. V2O5 | Tons | Lbs. U3O8 |
Dulaney** | 0.24 | 42,255 | 204,514 | 1.45 | 1,227,084 | 25,000 | 100,000 |
**Source: Gillingham, Thomas E., Consulting Mining Engineer, letter to E.R. Farley, Jr., President, Atlas Corp., Subject: "Atlas Controlled Uranium and Vanadium Ore Reserves Tributary to |
The above estimates were not prepared using the current definitions of "mineral reserve" and "mineral resource" as those terms are used in National Instrument 43-101 ("NI 43-101") and defined under current CIM standards. However, references to Indicated and Inferred Ore are considered similar to indicated and inferred mineral resources. The historical estimate is considered reliable and is relevant for the purpose of conducting data analysis and future exploration on the Properties. Additional review and analysis of the available data, and if necessary additional exploration work, including confirmatory drilling and sampling, is required to verify and upgrade the historical estimates as a current mineral resource or mineral reserve. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
Dulaney Project – The historical estimated uranium-vanadium reserves and resources reported for the 6-claim Dulaney Property area are located in the center of Urano Energy's 128 claim Dulaney property. This historical resource helps define the potential of Urano Energy's much larger area by providing an anchor of known historical uranium-vanadium reserves in the central part of the Dulaney property. In addition to adding over 200 thousand lbs. U3O8 of historical indicated reserves to Urano Energy's inventory, the map of the drilled-out deposit will provide information regarding favorable mineralized trends and drill targets on Urano Energy's adjacent property.
Building Urano's Uranium and Vanadium Mineral Inventory Without Drilling Costs
Atlas Corp. and Cotter Corp. prepared the historical reserve and resource estimates reported here. Both companies operated their own processing plant (mill) and produced ores from a large number of operating mines located in the
The conversion of the historical resource estimates to a current mineral resource under NI 43-101 for each property will require additional data review and analysis, and if necessary additional confirmatory exploration work. As part of its ongoing analysis and review of each of its uranium-vanadium properties Urano Energy will prioritize the Properties for completion of NI 43-101 Technical Reports.
Urano Energy's initial cumulative 714 thousand lbs. uranium ("U3O8") historical reserve inventory from the five properties is only the beginning of building Urano's portfolio of properties with historical reserves and resources. The size of the reserve and resource inventory is expected to substantially increase as the work of reviewing and analyzing the large database associated with the 15 properties continues. The 15 properties are comprised of 345 lode mining claims and 3 Utah State Mineral Leases covering a total of 8200 acres (33 sq. kilometers) as announced in the December 5, 2024 news release.
Resource Potential Expansion Beyond Historical Estimated Reserves and Resources
In addition to those properties with known drilled-out historical uranium reserves and resources, Urano Energy has maps showing planned but never completed drilling, as well as other defined drill targets based on geologic analysis prepared by leading producing companies in these districts. This data provides an additional path for new discoveries to further expand Urano Energy's inventory of historical and current uranium-vanadium resources.
Uranium Mining in the Uravan Mineral Belt,
Uranium mining in
Today, the Uravan Mineral Belt remains a key area for uranium exploration, with modern mining techniques targeting its historical deposits and new opportunities for production as global demand for uranium continues to grow. The region's rich history of uranium mining has established
1Chenoweth, William L., 1981, "The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, |
Qualified Person
Technical information in this news release has been approved by Douglas Underhill, PhD. Geology, MBA, CPG, a Director of Urano Energy Corp. and "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Urano Energy Corp.
Urano Energy is a mineral exploration company focused on conventional uranium projects in
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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SOURCE Urano Energy Corp.
FAQ
How many pounds of uranium reserves did Urano Energy (UECXF) add from the three Colorado properties?
What is the total historical uranium reserve inventory for Urano Energy (UECXF) after this addition?
How much of Urano Energy's (UECXF) total property package does this review cover?
What is the historical production from the Uravan Mining District where UECXF's properties are located?
How many acres do Urano Energy's (UECXF) 15 properties cover in total?
