Located in SE Wyoming, the Bootheel Project consists of roll-front mineralized zones identified in three distinct, stacked sandstone formations giving the company a more efficient opportunity for the development of resource definition. Historic metallurgical testing has indicted better than average uranium recovery kinetics and aquifer rehabilitation. A historic NI 43-101* by Scott Wilson Roscoe Postle Associates Inc. for Crosshair Exploration and Mining Corp. and Ur Energy Inc. in 2007 reports:
- Indicated Resource of 1.443 million tons @ 0.038% U3O8 for 1.089 lbs U3O8; and
- Inferred Resource of 4.399 million tons @ 0.037% U3O8 for 3.249 lbs U3O8.
*A Qualified Person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as a current mineral resource. Additional work will be required to verify and update historical estimates, including a review of assumptions, parameters, methods and testing. Historical estimates do not use the current mineral resources categories prescribed under NI 43-101. Nuclear Fuels is not treating the historical estimate as a current mineral resource and it should not be relied upon.
Bootheel Project, Wyoming
- Roll-front mineralization occurs in three ages of sandstone.
- Mineralization is amenable to ISR extraction.
- Historic NI 43-101 Report7:
- Indicated Resource of 1.443 million tons @ 0.038% U3O8 for 1.089;
- Inferred Resource of 4.399 million tons @ 0.037% for 3.249 U3O8.
Lisbon Valley Project
The Lisbon Valley project has two claim blocks; the LS and JB mining claims, totaling 107 claims covering approximately 2,211 acres (895 hectares) in the Lisbon Valley Uranium District, southeastern Utah.
The Lisbon Valley District is in the Colorado Plateau region, 30 miles southeast of Moab, Utah. The Lisbon Valley District was a center of historic conventional surface and underground mining uranium production from 1948 to 1988 of approximately 78 million pounds U3O8. The uranium mineralization in the Lisbon Valley district is primarily hosted by the Moss Back Member of the lower Chinle Formation of Triassic age. The Moss Back sandstone has the unique distinction of hosting some of the highest-grade uranium and vanadium mineralization in the Colorado Plateau region.
The LS claim group is located just southeast and adjacent to the Lisbon mine, on the downthrown side of the Lisbon Valley anticline. The Lisbon mine was owned and operated by Rio Algom Mines Ltd., with production between 1972 to 1988, producing approximately 22 million pounds U3O8 from the Moss Back sandstone. Drilling on the LS claims in 2007 reported* intersecting significant uranium mineralization amounting to 17.5 feet grading 0.11 per cent U3O8 (including 3.5 feet grading 0.28 per cent U3O8) in drill hole L-15, collard about 8,000 feet southeast of the Lisbon mine. The claims are subject to a 2-per-cent net smelter royalty.
*Reported in a press release dated Sept. 10, 2007, Mesa Uranium Corp. this drilling is historical in nature and a qualified person has not done sufficient work to verify historic drilling. Additional work will be required to verify and update historical work.