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Energy Fuels Inc.
Summary
| Project: | Daneros | |
|---|---|---|
| Deposit: | Daneros | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 3/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-3-2018: Energy Fuels Inc. announces a Resource Estimation report for its Daneros deposit at the Daneros project. Upgraded mineral resource estimate for Daneros project. Energy Fuels Inc. (Energy Fuels) owns the Daneros Mine uranium project (Daneros or t | |
| Resources: | (Resource): 20Kt @ 0.36% eU3O8 (Ind.), 7Kt @ 0.36% eU3O8 (Inf.) | |
| CP/QP: | [Resources]: Douglas Peters (Peters Geosciences) | |
| ABSTRACT: | Energy Fuels Inc. (Energy Fuels) owns the Daneros Mine uranium project (Daneros or the Property), located on the Colorado Plateau in San Juan County, Utah. The Property is in the Red Canyon portion of the White Canyon Mining District. Energy Fuels holds a 100% interest in various groups of mining claims, which cover the Daneros mine and adjoining historical mine sites. These historical sites could be developed in conjunction with Daneros. Daneros was developed and placed into active production in 2009 by Utah Energy Corporation (UEC), the U.S. operating entity for White Canyon Uranium Limited (WCU). Denison Mines purchased WCU and all its assets in June 2011. Daneros was acquired by Energy Fuels in June 2012 as part of the acquisition of Denison Mines’ USA operations. Daneros was placed on standby in October 2012 due to falling uranium prices. Major uranium deposits in the White Canyon District occur at or near the base of the Upper Triassic Chinle Formation, in fluvial channel deposits of the Shinarump Member, the basal member of the Chinle Formation. Uranium mineralization appears to be related to low-energy depositional environments in that uranium is localized in fluvial sandstones that lie beneath organic-rich lacustrine-marsh mudstone and carbonaceous delta-front sediments. The reducing environment preserved in these facies played an important role in the localization of uranium. Single mineralized pods range from a few feet to a few hundred feet in length and from less than one to more than ten feet in thickness. Deposits range in size from a few tons to more than 600,000 tons. In general, grades of vanadium mineralization associated with uranium deposits in the Shinarump Member are relatively low when compared to other Colorado Plateau deposits. Typically, Shinarump deposits are not processed for vanadium. Historical production from the White Canyon District exceeds 11 million pounds U3O8. | |
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