Guyana
NI 43-101 Resource – Uranium in the Kurupung Batholith is geologically similar to albitite-hosted uranium deposits worldwide that typically host resources in the 60 to 130 million pounds (“mlb”) range. We are growing our pipeline of uranium-bearing structures with the potential to add to our current NI 43-101 compliant resource and show that the Kurupung system could be of comparable size to peer deposits.
Exploration Upside – Our exploration in the Roraima Basin is identifying key features typically associated with unconformity-related uranium in Canada’s Athabasca Basin, which accounts for 20% of the world’s uranium production3. Roraima targets share characteristics of Athabasca-type uranium in terms of their structure, alteration patterns and enrichment in pathfinder metals.
Colombia
Significant Historic Resource – The Berlin Project in Caldas Province is a sediment-hosted uranium prospect with a historical resource1 of 12.9 million tonnes at 0.13% U3O8 (38mlb U3O8), based on drilling, adits and trenching in only the southern 4.4 kilometres (“km”) of a 10.5km long syncline. The presence of significant grades of phosphate, vanadium, molybdenum and yttrium further increases the potential in situ value of the Berlin Project. Infill drilling has now been completed with the aim of generating an initial NI 43-101 resource estimate in 2011.
1 Berlin historic resource is reported in Castano, R. (1981), and should not be considered a NI 43-101 compliant resource (see Disclaimer).
Argentina
NI 43-101 Resource – The Laguna Salada Project in Chubut Province is a surficial uranium-vanadium deposit that appears amenable to low-cost mining. Mineralization is free-digging and lies at surface to three metres depth contained within unconsolidated gravel. Uranium and vanadium grades can be increased by about three to 11 times by simple screening to remove the pebbles and coarse sands.
Exploration Upside – An extensive land position near Argentina’s two largest known uranium deposits (Cerro Solo deposit - a historic resource4 of 10mlb at 0.15% U3O8 and Sierra Pintada - a historic resource4 of 30mlb at 0.12% U3O8) offers exploration upside, including significant sandstone-hosted uranium intersected in the Cerro Solo Area, near the State’s Cerro Solo deposit.
2 Albitite-hosted deposits worldwide (see Disclaimer)
3 Source: World Nuclear Association
4 Historic resources at Cerro Solo and Sierra Pintada (see Disclaimer)