Located in San Miguel County, Colorado; road and power access; proximal to existing mill
Resource context
Resource estimate completed; PEA completed in 2023
Permit context
Targeting Plan of Operations in 2025
Technical context
Existing shafts, portals and workings at site
Financial context
2023 PEA showed positive economics; part of hub-and-spoke strategy with Shootaring Mill
Recent achievements
Completed 14,000-ft drill program; confirmed existing resource and provided basis to upgrade partial resource to Indicated from Inferred
Work ongoing
Targeting Plan of Operations in 2025
Next steps
Velvet-Wood
Developing ProjectUnited States
Updated Plan of Ops and environmental studies being commissioned; advanced permitting/licensing work previously undertaken • PEA
Overview
Country
United States
Region
Utah
Current status
Updated Plan of Ops and environmental studies being commissioned; advanced permitting/licensing work previously undertaken
Permit status
Advanced permitting/licensing; updated Plan of Ops and environmental studies being commissioned
Ownership
100.0%
Classification
Project stage
Developer
Substage
PEA
Active milestone
PEA
Completed milestones
Historic production, Resource estimate
Resources
Measured + indicated
4.6 Mlb
M&I grade
2,900.0 ppm
Inferred
0.6 Mlb
Inferred grade
3,200.0 ppm
Total resources
5.2 Mlb
Endowment
Core endowment
4.6 Mlb
Core ownership
100.0%
Expansion endowment
0.6 Mlb
Expansion ownership
100.0%
Grade
2,900.0 ppm
Field recovery rate
92.0%
Financials
Production rate
0.8
Total production
11.2 Mlb
Life of mine
15.0 years
Uranium price used
$70.00/lb
Recovery rate
92.0%
Post-tax NPV8
$197M
Post-tax IRR
33.0%
Capex
$112M
Sustaining capex
$18.0M
Strategics
PEA
2023-05-01
Notes
Highlights
Historic production of 4 Mlbs U3O8; M&I resource of 4.6 Mlbs U3O8 @ 0.29%; inferred 0.55 Mlbs @ 0.32%
Country attractiveness
Located in the Lisbon Valley Uranium District, San Juan County, Utah; access to paved roads, grid power, water; 125 miles from Shootaring Canyon Mill
Resource context
Resource estimate completed; PEA completed in 2023
Permit context
Advanced permitting/licensing work previously undertaken by Uranium One; updated Plan of Ops and environmental studies being commissioned
Technical context
Existing 3,500 ft decline and portal from historical underground mining
Financial context
2023 PEA showed positive economics; part of hub-and-spoke strategy with Shootaring Mill
Work ongoing
Updated Plan of Ops and environmental studies
Next steps
Updated Plan of Ops and environmental studies being commissioned
West Slope
Developing ProjectUnited States
Advance to PEA on four deposit areas with NI 43-101 resources; commission updated resource estimates for five historic resource areas • Scoping Study/Updated MRE
Overview
Country
United States
Region
Colorado
Current status
Advance to PEA on four deposit areas with NI 43-101 resources; commission updated resource estimates for five historic resource areas
Located in Montrose and San Miguel Counties, SW Colorado; road and power access; historic adits, underground stopes, open pit, and infrastructure on site
Resource context
NI 43-101 resource estimate for JD-6, JD-7, JD-8, JD-9; historic resource estimate for SR-11, SR-13A, SM-18 N, SM-18 S, LP-21, CM-25
Permit context
Advancing to PEA; resource verification ongoing
Technical context
Historic adits, underground stopes, open pit, and affiliated infrastructure on site
Financial context
To be advanced to PEA; part of hub-and-spoke strategy with Shootaring Mill
Work ongoing
Advancing to PEA; resource verification ongoing
Next steps
Advance to PEA on four deposit areas; commission updated resource estimates for five historic resource areas
Targeting Plan of Operations in 2025
Additional minerals
Vanadium (historic and current resource: 47.1 Mlbs V2O5)
Additional minerals
Vanadium (historic production: 5 Mlbs V2O5)
Resource extension potential
Continue to target prospective brownfield properties, making use of abundant historical information in the region
Additional minerals
Vanadium (historic and current resource: 26.9 Mlbs V2O5 inferred, 20.0 Mlbs V2O5 historic)