Uranium Mineral Resources
The updated NI 43-101 technical report by RPA (January 2012): Part 1 / Part 2 / Part 3
In January 2012, Roscoe Postle Associates Inc. (“RPA”) updated the NI 43-101 uranium resource estimate for the Matoush uranium exploration project using drill hole data available as of December 31, 2011. At a cut-off grade of 0.10% U3O8, indicated mineral resources are estimated to total 453,000 tonnes grading 0.78% U3O8 containing 7.78 million pounds U3O8. Inferred mineral resources are estimated to total 2.04 million tonnes grading 0.43% U3O8 containing 19.22 million pounds U3O8.
The indicated resource is contained in zones AM-15 and MT-34. The inferred resource is contained primarily in zones MT-22, MT-34 and AM-15 Extension, as well as in the new MT-02, MT-06 and MT-36 zones. The Matoush structure has been identified over a strike length extending 11 km southward and 2.5 km northward.
Indicated resources are similar to the 2009 estimate because Strateco did not carry out any definition drilling work which would have increased the indicated resource from November 2009 to October 2011. Strateco is planning a 15,000-metre drilling program for 2012, including some 11,000 metres of definition drilling aimed at outlining the indicated resource within the boundaries of the new inferred resource zones.
Table: Matoush Project Resource Estimate (RPA, January 2012)
|
|
Tonnes |
Grade |
Pounds U3O8 |
|
|
|
(x 1,000) |
(% U3O8) |
(x 1,000) |
|
|
Indicated |
|
|
|
|
|
AM-15 |
269 |
0.70 |
4,170 |
|
|
MT-34 |
184 |
0.89 |
3,610 |
|
|
Total Indicated |
453 |
0.78 |
7,780 |
|
|
|
|
|
|
|
|
Inferred |
|
|
|
|
|
AM-15 |
91 |
0.21 |
430 |
|
|
MT-02 |
64 |
0.36 |
500 |
|
|
MT-06 |
192 |
0.18 |
770 |
|
|
MT-22 |
885 |
0.52 |
10,160 |
|
|
MT-34 |
607 |
0.47 |
6,300 |
|
|
MT-36 |
201 |
0.24 |
1,070 |
|
|
Total Inferred |
2,041 |
0.43 |
19,220 |
|
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources are estimated at a cut-off grade of 0.1% U3O8.
3. High U3O8 grades were cut to 9%.
4. Mineral Resources are estimated using an average long-term uranium price of US$80 per pound, and a US$/C$ exchange rate of 1.0.
5. A minimum mining width of 1.5 metres was used.
6. Numbers may not add due to rounding.
In September 2009, Scott Wilson RPA updated the NI 43-101 uranium resource estimate for the Matoush uranium exploration project using drill hole data available as of September 1, 2009. At a cut-off grade of 0.10% U3O8, indicated mineral resources are estimated to total 436,000 tonnes grading 0.78% U3O8 containing 7.46 million pounds U3O8. Inferred mineral resources are estimated to total 1.16 million tonnes grading 0.50% U3O8 containing 12.78 million pounds U3O8. The mineral resources are contained within three zones: AM-15, MT-22 and MT-34. Click here for the September 2009 updated NI 43-101 report by Scott Wilson RPA.
In September 2008, Scott Wilson RPA updated the NI 43-101 uranium resource estimate for the Matoush uranium project using drill hole data available as of July 25, 2008. At a cut-off grade of 0.05% U3O8, indicated mineral resources were estimated to total 250,000 tonnes grading 0.68% U3O8 containing 3.73 million pounds U3O8. Inferred mineral resources were estimated to total 1.3 million tonnes grading 0.44% U3O8 containing 13.07 million pounds U3O8. The mineral resources are contained within three zones: AM-15, MT-22 and MT-34. Click here for the September 2008 NI 43-101 report by Scott Wilson RPA.
In October 2007, Scott Wilson RPA prepared the initial NI 43-101 uranium resource estimate for the AM-15 core zone at Matoush using drill hole data available as of September 6, 2007. Indicated mineral resources were estimated to total 201,000 tonnes grading 0.79% U3O8 containing 3.48 million pounds U3O8 and inferred mineral resources were estimated to total 65,000 tonnes grading 0.43% U3O8 containing 0.62 million pounds U3O8. Click here for the first NI 43-101 report, prepared by Scott Wilson RPA in October 2007.