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Energy Fuels Inc.
Summary
| Project: | Sheep Mountain | |
|---|---|---|
| Deposit: | Sheep Mountain | |
| Location: | United States | |
| Commodities: | Uranium | |
| Date: | 1/10/2017 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Mine Development | |
| Report details: | 10-1-2017: Energy Fuels Inc. announces an EIA/ESIA report for its Sheep Mountain deposit at the Sheep Mountain project. Final Environmental Impact Statement and Record of Decision Issued for Sheep Mountain. Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“E | |
| Resources: | (Reserve, Prob.): 7.5Mt @ 0.123% eU3O8 for 18.4Mlbs U3O8 contained | |
| 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 the U.S. Bureau of Land Management (the “BLM”) has issued a Final Environmental Impact Statement (the “EIS”) and Record of Decision (the “ROD”) for the Company’s 100%-owned Sheep Mountain Project located in the Crooks Gap Mining District of central Wyoming. The Sheep Mountain Project is a large-scale, formerly-producing, conventional uranium mine with the potential to become a long-term uranium production center in a higher price environment. As previously announced, the Company also holds a mine permit (the “Mine Permit”) for the project, which was issued by the State of Wyoming in July 2015. The issuance of the EIS, the ROD and the Mine Permit are the last major government approvals required to commence mining at this project, as the Company continues to evaluate options for processing the resources that may be mined at the project, including toll processing at other facilities in the region and the licensing and construction of its own onsite facility. According to an April 2012 preliminary feasibility study (the “PFS”) prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), the Sheep Mountain Project is estimated to hold approximately 12.9 million tons of Indicated Mineral Resources with an average grade of 0.117% eU3O8 containing approximately 30.3 million pounds of uranium. Included in the Indicated Mineral Resources, the project is estimated to hold approximately 7.5 million tons of Probable Mineral Reserves with an average grade of 0.123% eU3O8 containing approximately 18.4 million pounds of uranium. The PFS also estimates that the Sheep Mountain Project can produce up to 1.5 million pounds of uranium per year over a 15-year mine life. | |
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