Resources announced for Wyoming project

Tuesday, 29 July 2014

Ur-Energy says Shirley Basin has the potential to be its next Wyoming production centre after announcing mineral resources of 8.816 million pounds U3O8 (3391 tU) at the project.

Shirley Basin came into Ur-Energy's possession when the company acquired the Pathfinder Mines Corporation from an Areva affiliate in December 2013. Uranium was previously mined at Shirley Basin from the 1960s until low uranium prices prompted its closure in 1992.

The resource analysis announced by Ur-Energy is based on 3200 historic drilling holes completed by Pathfinder prior to 1992, supplemented by a drilling program completed in May 2014. Between them, the drilling data has revealed measured resources of 7.521 million pounds U3O8 (2893 tU) at an average grade of 0.275% U3O8, and indicated resources of 1.295 million pounds U3O8 (498 tU) at 0.118% U3O8. Because of the high drilling density at the site, there are no inferred resources. The figures are NI43-101 compliant, and an independent technical report detailing the resource estimate is to be filed on the Canadian Securities Administration SEDAR system by early September.

Ur-Energy president and CEO Wayne Heili described the average resource depth of 312 feet (95m) as favourable for production. "Based on the strength of this maiden resource we feel that the project has the potential to be Ur-Energy's next production centre in Wyoming," he said. Although most of the Shirley Basin's past uranium production was from conventional mining the deposit is amenable to in situ leach (ISL) methods, and Ur-Energy has said it intends to launch licensing and development activities this year with a view to a 2017 production start.

Shirley Basin would be Ur-Energy's second operating uranium project, joining Lost Creek in south-central Wyoming which started up in August 2013.

Researched and written
by World Nuclear News