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Energy Fuels Inc.
Summary
| Project: | Canyon Mine | |
|---|---|---|
| Deposit: | Canyon Mine | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 2/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-2-2017: Energy Fuels Inc. announces an Exploration/Drilling Update report for its Canyon Mine deposit at the Canyon Mine project. Drilling results incl. 1.83m @ 16.99% U3O8, 1.20% Cu. Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“Energy Fuels” or the “ | |
| 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 underground drill program currently occurring at the Company’s Canyon Mine, which is a high-grade uranium mine being developed by the Company in northern Arizona. The Company is continuing to discover large and highgrade areas of uranium mineralization, 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 discover additional zones of high-grade copper mineralization, both inside and outside the areas of potentially recoverable uranium mineralization. As has been previously reported, the Company has completed all surface development and is currently sinking the production shaft at the Canyon Mine. The shaft is nearing completion, as it is currently sunk to a depth of approximately 1,400-feet (out of a total planned depth of 1,470-feet). From the shaft, which is being sunk adjacent to the vertically aligned “breccia pipe”, the Company is conducting underground drilling to more accurately define and delineate the deposit. As core holes are completed, the Company first conducts a gamma analysis of the drill holes to estimate uranium content. Then, the core material is sent to the Company’s laboratory at the White Mesa Mill for chemical assay. | |
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