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Energy Fuels Inc.
Summary
| Project: | Canyon Mine | |
|---|---|---|
| Deposit: | Canyon Mine | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 8/18/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-8-2016: Energy Fuels Inc. announces an Exploration/Drilling Update report for its Canyon Mine deposit at the Canyon Mine project. Drilling results incl. 2.59m @ 6.88% eU3O8. Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“Energy Fuels” or the “Company”) | |
| Resources: | (Resource, Inf.): 83000t @ 0.98% eU3O8 for 1.63Mlbs U3O8 contained at Canyon deposit | |
| 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 announce that it has intercepted several large and high‐ grade areas of mineralization at its Canyon Mine, a conventional uranium mine located in northern Arizona, USA. The Company is currently pursuing an underground delineation core drilling program from a station located at a depth of approximately 1,000 feet below the surface. To date, thirteen (13) core holes have been drilled, and most have encountered uranium mineralization in multiple levels throughout the deposit, including 8.5‐feet of mineralization with an average grade of 6.88% eU3O8, 48.0‐feet of mineralization with an average grade of 1.02% eU3O8, and 35‐feet of mineralization with an average grade of 1.39% eU3O8. The Company expects to drill a total of fifteen (15) core holes from the first station during the current drilling program, which is expected to be followed up by additional delineation drilling from a second station later this year. All holes were logged for gamma by trained Company personnel to calculate eU3O8%. Gamma logging tools were calibrated prior to the drilling program and verified by an independent 3rd party geophysicist. Samples from the zones showing high eU3O8% assay values are currently being sampled and sent to the Company’s White Mesa Mill for further verification. | |
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