Crownpoint consists of two discrete ISR-amenable deposits, Crownpoint and Churchrock, covered by a single NRC license (SUA-1580). The PEA envisions that uranium will be mined by in situ recovery (ISR) methods at only the Churchrock location and recovered in a proposed new processing facility at the nearby Crownpoint location where significant project infrastructure already exists. When completed in Q2 2023, the PEA will provide estimates of project economics based on ISR mining of estimated mineral resources in Section 8 of the Churchrock NRC license area, recovery factors, and life-of-project permitting, capital, operating, and reclamation cost estimates for the mine area and the proposed Crownpoint processing facility.
The recent drilling conducted at Churchrock confirmed that historical drilling results are suitable for resource estimations and agreed with previous studies showing there is low risk of depletion of chemical uranium compared to radiometric uranium in the Churchrock mineralization, and will also provide core for the test work necessary to obtain the New Mexico Aquifer Discharge Permit, the final material permit needed for the project. Upon completion of drilling, each drill hole on the Project was logged with a suite of geophysical tools including natural-gamma, spontaneous potential (SP), and resistivity. All downhole logging was conducted by COLOG. Natural gamma logging is an industry-standard procedure for estimating equivalent uranium grades and was utilized in historic drill campaigns at Churchrock. Recovered drill core from the new holes was logged by project geologists for lithology and mineralization, and one-half splits were collected for direct geochemical analysis of uranium at
The results of the recent drilling confirmed the location and tenor of uranium roll fronts at Churchrock (Figure 2). Chemical assays of uranium were compared to recent and historic gamma-equivalent uranium grades from the Westwater Canyon B Sand (Jmw B) which was the primary target of the 2022 drill program and the primary mineralized sand targeted for ISR mining in Section 8 are shown in Table 1. Chemical assays show an average thickness of 18.3 ft of 0.061% U3O8, compared to a gamma-equivalent average thickness of 21.7 ft at 0.045% eU3O8. Comparing historic twin holes against holes completed in 2022 for equivalent grade (Table 2) showed an average thickness of 15.8 ft at 0.039% eU3O8 compared to an average thickness of 20.5 ft at 0.046% U3O8 from the nearby historic holes. Both comparisons favorably validate that the historic drilling results are suitable for declaring Mineral Resources.
From a grade thickness standpoint (grade thickness ("GT") defined as the grade multiplied by the thickness of a mineralized intercept), all of the holes tabled below had GT's in excess of 0.3 %-ft which is the minimum GT considered typical for mining by ISR.
Table 1: Comparison of Gamma-Indicated and Chemically-Measured Uranium in 2022 Drill Holes
2022 Drill | Thickness | Gamma- | Grade x | Thickness | Chemical | Grade x |
DHID-01 | 27.0 | 0.064 | 1.73 | 27.0 | 0.064 | 1.73 |
DHID-02 | 34.3 | 0.044 | 1.49 | 22.0 | 0.058 | 1.27 |
DHID-05 | 15.0 | 0.051 | 0.77 | 14.0 | 0.065 | 0.91 |
DHID-06 | 25.1 | 0.036 | 0.90 | 22.5 | 0.052 | 1.17 |
DHID-07 | 7.3 | 0.030 | 0.22 | 6.0 | 0.067 | 0.40 |
Average | 21.7 | 0.045 | 0.98 | 18.3 | 0.061 | 1.12 |
*Grade-Thickness is the average grade across the mineralized interval multiplied by the cumulative thickness of the mineralized interval. |
Table 2: Comparison of Gamma-Indicated and Chemically-Indicated Uranium in Twin Holes
2022 Drill | Thickness | Chemical | Grade x | Historic | Thickness | Gamma- | Grade x |
DHID-05 | 15.0 | 0.051 | 0.77 | S17- | 15.5 | 0.054 | 0.84 |
DHID-06 | 25.1 | 0.036 | 0.90 | S17- | 28.5 | 0.053 | 1.51 |
DHID-07 | 7.3 | 0.030 | 0.22 | S17- | 17.5 | 0.032 | 0.56 |
Average | 15.8 | 0.039 | 0.62 | 20.5 | 0.046 | 0.95 | |
*Grade-Thickness is the average grade across the mineralized interval multiplied by the cumulative thickness of the mineralized interval. |
Mineralized core from the recently completed program will also be used by NuFuels in a planned laboratory-scale program carried out jointly with the
- Complete a bench level testing program in support of the New Mexico State discharge permit application;
- Replicate the in-situ uranium chemistry and recovery characteristics at the laboratory scale;
- Determine ISR mining reaction kinetics data specific to the ore body;
- Duplicate expected reverse osmosis (RO) restoration chemistry characteristics and evaluate the results;
- Examine uranium and other trace element concentrations after simulated reverse osmosis treatment and sulfide treatment;
- Record pH and clay mineralogy of the (laboratory) leached samples; and,
- Examine uranium and other potential trace metals concentrations for rebound during a post restoration stability period.
The Churchrock properties within the
In 2017, SLR formerly known as
The current Mineral Resource is classified as Inferred based on the historic nature of the drilling data and drill hole density along mineralized trends contained within the sandstone units of the
A discharge permit for the underground injection and control associated with the Project will be required by
Technical information contained in this news release has been reviewed and approved by
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Laramide is engaged in the exploration and development of high-quality uranium assets. Its wholly owned uranium assets are in
This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.
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