The Sunday Mine Complex is located in western San Miguel County, Colorado, USA. The complex consists of the following five individual mines: the Sunday mine, the Carnation mine, the Saint Jude mine, the West Sunday mine and the Topaz mine. The mines were most recently actively mined from 2007 to 2009. The Sunday Mine Complex property consists of 221 unpatented claims on public lands covering approximately 3,800 acres. 20 of these claims carry are subject to a 12.5% royalty on all ore produced. The operation of each of the mines included in the Sunday Mine Complex requires a separate permit. Although the Issuer does not currently consider this project to be material, each of the mines is considered to be in active status because the Issuer is installing a series of monitoring wells. A mine water treatment plant will need to be installed (and the appropriate permits obtained) for treating mine water from the Sunday Mine Complex.
The San Rafael Uranium Project is located in Emery County, Utah, and forms a single contiguous claim block covered by 146 unpatented federal lode mining claims and the contiguous State Section 36 Mineral
Lease. The two core uranium deposits of the San Rafael Uranium Project are the Down Yonder deposit and the Deep Gold deposit. The combined Indicated Mineral Resource (CIM Definition) for the entire San Rafael Uranium Project comprises 758,000 tonnes @ 0.225% U3O8 containing 3,404,600 lbs U3O8 and an Inferred Mineral Resource (CIM Definition) of 453,800 tonnes @ 0.205% U3O8 containing 1,859,500 lbs U3O8. Using the historic District average recovered U3O8:V2O5 ratio of 1:1.35, this same tonnage could yield Indicated Mineral Resources (CIM Definition) of approximately 4,596,000 pounds V2O5 at an average grade of 0.30% V2O5. The same Inferred Mineral Resource (CIM Definition) tonnage could yield approximately 2,510,000 pounds V2O5 at an average grade of 0.28% V2O5.
The Sage Mine project is located in San Juan County, Utah, and San Miguel County, Colorado USA. It consists of 94 unpatented claims and one Utah State Lease covering approximately 1,942 acres. The historic Sage Mine ceased operating in 1982. The 94 unpatented claims are subject to an overriding royalty of 2.5% payable to a previous owner of the claims. The Utah State Lease is subject to a royalty, payable to the State of Utah, of 8% on uranium and 4% on vanadium, plus a 1% override to the previous owner. Although the mine is partially permitted and bonded, further permits must be obtained prior to the commencement of production.
The Dunn Mine Complex is located in San Juan County, Utah, USA. It is comprised of 11 unpatented claims and one private lease. The Dunn Mine was closed in the mid-1980s, with only limited development completed and very little production realized. The 11 unpatented claims are located on public lands covering approximately 220 acres. The private lease is subject to a production royalty of 12.5% of the fair market value of ore produced. The private lease requires annual payments to be made, half of which is rent and the other half being an advance payment of royalty that is deductive from any royalty payments due on future production. The Issuer holds no permit for the Dunn Mine Complex.
The Farmer Girl Mine project is located in Montrose County, Colorado, USA. It is comprised of a lease that was entered into on September 2006 for a 10 years term. The lease renews automatically once production at the Farmer Girl Mine commences. The project consists of the historic Farmer Girl Mine, as well as 22 unpatented claims and 7 patented claims. Production at the Farmer Girl Mine ceased in 1989. The project covers an area of approximately 450 acres. All claims carry royalties ranging between 4% and 8% for uranium and vanadium production. The Issuer holds no permit for the Farmer Girl Mine.
The Hansen/Taylor Ranch Uranium Project encompasses more than 13,500 acres. The Project is located approximately 150 kilometres southwest of Denver in the Tallahassee Creek District of Colorado.
Tallahassee Creek is an established mining region and hosts AngloGold-Ashanti Cripple Creek gold mine. From 1954 to 1972, 16 small scale open pit and underground uranium mines operated in the region. The Project includes the Hansen, Taylor, Boyer, Noah, High Park and Picnic Tree Deposits. The vast majority of these mineral rights have been secured under lease and option agreements with surface landowners, together with several State and Federal leases.
The Project contains JORC Code-compliant Indicated and Inferred resources of approximately 90.9 million pounds U3O8 at a very robust grade of 600 ppm U3O8, making it one of the largest uranium projects within the United States. The vast majority of these mineral rights have been secured under four lease and option agreements with surface landowners, together with several State and Federal leases.
The Hansen/Taylor Ranch deposits are found within the sedimentary Echo Park formation of Eocene age. The Echo Park alluvium lies un-conformably upon pre-Cambrian rocks (quartz monzonites, granodiorites, gneisses and schists) that were eroded unevenly throughout time and provided the surface upon which the sediments were deposited. Renewed uplift and associated faulting formed grabens and paleovalleys where the sediments were deposited and the uranium mineralization concentrated.
The Echo Park alluvium contains poorly sorted colluvium as sheet-wash facies in addition to fluvial facies that contain carbonaceous material that acted as reducing agents for the concentration of the mineralization.
It is thought that the overlying Wall Mountain tuff was the source for the uranium minerals that were dissolved into the groundwater and transported through the Echo Park formation. The carbonaceous material then acted as a reducing agent allowing the uranium mineralization to be concentrated and deposited in the sedimentary sandstone layer.
The depth to the mineralized zones has been found to be from 150m down to approximately 190m.
The Van 4 Mine is located in western Montrose County, Colorado, USA. The Van 4 Mine is a small underground mine that was last operated between 1987 and 1990. The property consists of 115 unpatented claims located on public lands covering in excess of 1,900 acres. There are no royalties encumbering these claims. A mine permit for the Van 4 Mine has been granted and is currently in good standing, and the necessary bonds have been obtained.
The Yellow Cat Project is located in eastern Grand County, Utah, USA. This project consists of a total of 90 claims covering approximately 4,660 acres as follows: 85 unpatented claims on public land and 5 Utah State Leases. There are no royalties encumbering the 85 unpatented claims. The 5 Utah State Leases carry a royalty payable to the State of Utah of 8% on uranium produced, and 4% on vanadium produced. The Issuer holds no current exploration permits on the Yellow Cat Project.
Current Resource
|
Measured & Indicated |
Inferred |
Projects |
U3O8 (lbs) |
U3O8 Grade (%) |
V2O5 (lbs) |
V2O5 Grade (%) |
U3O8 (lbs) |
U3O8 Grade(%) |
V2O5 (lbs) |
V2O5 Grade (%) |
1Sunday Complex |
1,007,830 |
0.250 |
6,047,000 |
1.490 |
1,906,081 |
0.360 |
11,436,484 |
2.160 |
2San Rafael |
3,404,600 |
0.225 |
4,596,000 |
0.300 |
1,859,600 |
0.205 |
2,510,600 |
0.280 |
Total |
4,412,430 |
|
10,643,000 |
|
3,765,681 |
|
13,947,084 |
|
Historic Resource* |
Measured & Indicated |
Inferred |
Projects |
U3O8 (lbs) |
U3O8 Grade (%) |
V2O5 (lbs) |
V2O5 Grade (%) |
U3O8 (lbs) |
U3O8 Grade(%) |
V2O5 (lbs) |
V2O5 Grade (%) |
3Sage |
2,833,795 |
0.220 |
17,829,289 |
1.390 |
181,275 |
0.184 |
1,854,034 |
1.890 |
4Farmer Girl |
74,215 |
0.320 |
371,076 |
1.610 |
na |
na |
na |
na |
5Hansen Taylor |
39,366,000 |
0.061 |
na |
na |
51,042,000 |
0.058 |
na |
na |
6Dunn |
na |
na |
na |
na |
na |
na |
na |
na |
Total |
42,274,010 |
|
18,200,365 |
|
51,223,275 |
|
1,854,034 |
|
*A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves
Non-Material Properties |
Measured & Indicated |
Inferred |
Projects |
U3O8 (lbs) |
U3O8 Grade (%) |
V2O5 (lbs) |
V2O5 Grade (%) |
U3O8 (lbs) |
U3O8 Grade(%) |
V2O5 (lbs) |
V2O5 Grade (%) |
7Van #4 |
na |
na |
na |
na |
na |
na |
na |
na |
8Yellow Cat |
na |
na |
na |
na |
na |
na |
na |
na |
Total |
na |
|
na |
|
na |
|
na |
|
Current:
Sunday: "Technical Report on the Sunday Mine Complex Uranium Property, San Miguel County, Colorado, USA” for Western Uranium & Vanadium Corporation Inc., Filed to
sedar.com on July 16, 2015, Filed by Western Uranium & Vanadium Corporation Inc, Prepared by Anthony R. Adkins, CPG #8159.
San Rafael: “NI 43-101 Technical Report on the San Rafael Uranium Project (Including the: Deep Gold Uranium Deposit and the Down Yonder Uranium Deposit), Emery County, Utah, USA” for Pinon Ridge Mining LLC, Homeland Uranium Inc. (Utah) and Homeland Uranium Inc. (Canada), Filed to
sedar.com on November 20, 2014, Filed by Western Uranium & Vanadium Corporation (formerly known as Homeland Uranium Inc.), Prepared by O. Jay Gatten, Utah Professional Geologist #5222768-2250, North America Exploration Inc.
Historic:
Sage: “Technical Report on Colorado Plateau Partners LLC (Energy Fuels Resources Corporation and Lynx-Royal JC) Sage Plane Project (Including the Calliham Mine and Sage Mine), San Juan County, Utah and San Miguel County, Colorado, Filed to
sedar.com on December 21, 2011, Prepared for Colorado Plateau Partners LLC, a Joint venture between subsidiaries of Energy Fuels Inc. and Aldershot Resources Ltd In Compliance with Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”, Prepared by: Douglas C. Peters, Certified Professional Geologist, NI 43-101 Qualified Person, Peters Geosciences, Golden, Colorado.
Farmer Girl: “Amended Technical Report on Energy Fuels Resources Corporation’s Farmer Girl Property, Montrose County, Colorado, Prepared for Energy Fuels Incorporated In Compliance with Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects””, Filed to
sedar.com on January 26, 2009, Prepared by: M. assan Alief, Certified Professional Geologist, NI 43-101 Qualified Person, Alinco GeoServices, Inc. Lakewood, Colorado, Revised Date: December 16, 2008, Original Date: August 6, 2008.
Hansen/Taylor: Historic resource estimate was originally reported to Black Range Minerals Limited by Tetra Tech in four resource memos (collectively, the Tetra Tech Reports): 1) High Park Kriging Resources – Taylor Ranch Uranium Project, April 25, 2008; 2) North Hansen, Boyer Kriging Resources – Taylor Ranch Uranium Project, April 29, 2009; 3) Technical Memorandum – Boyer, Hansen and Picnic Tree Area Kriging Resources – Taylor Ranch Uranium Project, August 24, 2009; and 4) Technical Memorandum – Boyer, Hansen and Picnic Tree Area Kriging Resources – Taylor Ranch Uranium Project (Updated 2010), August 12, 2010. These memos were originally prepared by Rex Bryan of Tetra Tech, a qualified person under NI 43-101. The results reported in the Tetra Tech Reports are historical estimates under NI 43-101.