Uranium mineral resources
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 updated NI 43-101 report made by Scott Wilson RPA in September 2009.
| Table 1 - Mineral Resource Estimate for Matoush, September 1, 2009
|
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|
Tonnes (x 1,000) |
Grade (% U3O8) |
Pounds U3O8 (x 1,000) |
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|
|
|||||
| Indicated | |||||
| AM-15 |
262 |
0.70 |
4,039 |
||
| MT-34 |
174 |
0.89 |
3,420 |
||
| Total Indicated |
436 |
0.78 |
7,458 |
||
| Inferred | |||||
| AM-15 |
33 |
0.34 |
249 |
||
| MT-22 |
822 |
0.53 |
9,526 |
||
| MT-34 |
302 |
0.45 |
3,003 |
||
| Total Inferred |
1,157 |
0.50 |
12,777 |
||
Notes:
1. CIM Definitions were followed for classification of Mineral Resources.
2. The cut-off grade of 0.10% U3O8 was estimated using a price of US$75/lb and assumed operating costs.
3. High U3O8 grades were cut to 9%.
4. The Mineral Resource estimate uses drill hole data available as of September 1, 2009
5. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
6. Totals may not sum correctly due to rounding.
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 25th, 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 NI 43-101 report made by Scott Wilson RPA in September 2008.
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 6th, 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 made by Scott Wilson RPA in October 2007.