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Energy Fuels Inc.
Summary
| Project: | Canyon Mine | |
|---|---|---|
| Deposit: | Canyon Mine | |
| Location: | United States | |
| Commodities: | Uranium-Copper | |
| Date: | 5/11/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-5-2017: Energy Fuels Inc. announces an Exploration/Drilling Update report for its Canyon Mine deposit at the Canyon Mine project. Drilling results incl. 36.58m @ 0.81% U3O8, 11.95% Cu from 4.88m. Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“Energy Fu | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen P. Antony (Internal) | |
| ABSTRACT: | Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“Energy Fuels” or the “Company”), a leading producer of uranium in the United States, is pleased to provide the following update on the uranium and copper resource evaluation at the Company’s Canyon Mine, which is a high-grade, low-cost mine being developed by the Company in northern Arizona. The Company is also pleased to announce that it has substantially completed the production shaft, the core drilling program to delineate the deposit, and additional capital development at the mine, including approximately 300 feet of lateral development on the 1,400 foot level. At this time, major capital development activities and associated expenditures have been significantly reduced. The Company’s resource evaluation program is continuing to identify areas of high-grade uranium mineralization at the Canyon Mine, which the Company expects will result in a larger recoverable uranium resource than what is currently described in the existing technical report for the Canyon Mine, prepared in accordance with National Instrument NI 43-101, Standards for Disclosure for Mineral Projects (“NI 43-101”). The Company is also continuing to evaluate additional zones of high-grade copper mineralization that reside both inside and outside the areas of potentially recoverable uranium mineralization. The additional uranium the Company is identifying has the potential to significantly lower the production costs of this nearly developed mine to a level that is in-line with the lowest-cost, ‘tier one’ conventional uranium mines operating in the world today. If the copper can be economically recovered as a byproduct of uranium recovery, production costs will drop even further. | |
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