mining equipment in action

With emerging projects such as TerraPower's US$4 billion nuclear reactor, Wyoming is the energy capital of the US — and potentially for eco-friendly uranium mining and exploration, as well.

As we approach the 2030 "point of no return" for climate change, clean energy initiatives are more crucial than they've ever been.

Nuclear power has proved incredibly compelling in this regard. And as demand for nuclear energy steadily increases, so too does demand for uranium — a material essential for nuclear power generation.

At the time of writing, there were 438 operable reactors worldwide, their combined output up 8 percent from 2019. And with 55 reactors currently under construction worldwide, the outlook for the nuclear energy sector is a positive one. The most promising of these projects is arguably the Bill Gates-founded TerraPower's US$4 billion advanced reactor in Kemmer, Wyoming.


Constructed near a retiring coal plant, the Natrium reactor may well offer a window into Wyoming's future. For decades, Wyoming was the largest net energy provider in the US, while also producing over 40 percent of the nation's coal. Unfortunately, the global pivot to sustainable power has not been kind to Wyoming's coal sector — the past several years have been some of the most dismal in recent history for the mineral.

And that, in turn, threatens Wyoming's position as a major energy supplier. Or it would, if not for one small detail. Wyoming already has the potential to pivot to nuclear power. Since the late 1950s, it has been responsible for more than 80 percent of the country's uranium production.

Factor in that Wyoming also has the largest-known uranium reserves of any state in the country, and it's well positioned to be a national — possibly even international — leader in uranium production.

Rich history, rich deposits

To truly understand Wyoming's potential as a producer of uranium, one must first examine its history.

Commercial mining of uranium in Wyoming began in the 1950s, though it was first discovered in the tailings of an abandoned silver mine in 1918. At the time, there was no market for the material. It wasn't until 1948 that the fuel source truly came into its own.

At that time, the US Atomic Energy Commission — an agency founded in 1946 to oversee the development of atomic science and technology — issued a series of proclamations around procurement, pricing, discovery and incentives around uranium mining.

During the ensuing uranium rush, prospector Neil McNeice found abundant stores of the mineral in the Gas Hills region of Central Wyoming. For the next decade, Wyoming's uranium production was almost entirely centred in this region and the nearby Shirley Basin. Then, in the 1970s, massive deposits of the mineral were discovered — almost fittingly — in the Powder River Basin, at that time the heart of the state's coal production.

Over the course of its history, Wyoming's uranium mining has produced the equivalent of 5.9 billion barrels of oil in energy.

It hasn't been all smooth sailing for Wyoming's uranium sector from here. Just as the state's coal industry is being hammered by the shift to green energy, uranium production saw a massive downturn in 1980 due to uranium's massive drop in price. Jeffrey City, at the time a uranium-mining boom town, even lost 95 percent of its population in just three years.

The market has never fully recovered from that plummet in price. However, experts remain optimistic about Wyoming's future as a uranium producer — and not solely because of the rallying spot price.

"I think Wyoming will stand to regain its leading position in uranium production going forward and I think all that's going to take is a little bit [of] improvement in uranium price," Scott Melbye, executive vice president of Uranium Energy (NYSEAMERICAN:UEC), and president of the Uranium Producers of America, explained in a recent interview. "We're now in the $40-$50 per pound price range for uranium concentrates, but to be economical, we need about $50 a pound, certainly as a minimum or higher. I'm pretty confident we’re going to get back into that price range where we see uranium development again in the US."

The price of uranium remains at a high rate, even rising to over $63 per pound in April 2022.

The right infrastructure, the right place, the right time

Currently, Wyoming's governmental and economic climate is ranked second in the world by the Fraser Institute's annual survey of mining companies. It's also the eighth most attractive mining jurisdiction in the country in terms of investment potential. The long history of the mining sector has clearly resulted in an incredibly favourable climate for discovery, exploration and production alike.

Yet there's another factor that plays just as much of a part in the region's potential. Given that much of Wyoming's uranium can be found in and around the sites of former coal mines, uranium projects have access to readily available infrastructure rather than having to construct it upfront. Projects such as TerraPower's plant will only further drive investment into Wyoming's uranium sector.

Currently, Wyoming is home to a number of major uranium operations, with seven facilities currently operable and two others licensed for construction. Examples of operating or operable facilities include Ur-Energy’s (NYSE:URG,TSX:URE) Lost Creek in-situ recovery (ISR) facility and Smith Ranch-Highland, owned and operated by Cameco (TSX:CCO,NYSE:CCJ).

Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) holds several major deposits at Green Mountain and at its Sweetwater mill site in the Great Divide Basin, and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) owns both Nichols Ranch, a mine and plant in Wyoming's Powder River Basin, and Sheep Mountain, a mine and plant at Wyoming's Green Mountain/Crooks Gap.

Uranium Energy also recently acquired the Wyoming uranium exploration and production assets of Uranium One. The assets acquired include the Irigaray, Christensen Ranch, Moore Ranch, Reno Creek, Ludeman, Allemand-Ross, Barge and the Jab/West Jab project areas. Total measured and indicated resources across all of these assets total 61,956,200 pounds of triuranium octoxide (U3O8).

There are multitudes of significant deposits and projects in various stages of discovery and development, with no fewer than seven sites throughout the state.

GTI Resources (ASX:GTR) is one of the major players in that regard, having recently commenced drilling at its flagship Thor uranium project just a few miles away from Ur-Energy’s Lost Creek injected-solution mining plant. Ur-Energy claims that Lost Creek is the lowest-cost uranium producer in the world outside of Kazakhstan.

GTI currently holds approximately 8,900 hectares of underexplored mineral lode claims and two state leases prospective for sandstone-hosted uranium. GTI also recently announced that it’s agreed to acquire 13,800 additional acres of claims at Green Mountain, adjacent to its existing Great Divide Basin projects. The Green Mountain project contains a number of uranium-mineralised roll fronts hosted in the Battle Springs Formation. It lies close to several major deposits held by Rio Tinto, Energy Fuels and Uranium Energy.

Peninsula Energy (ASX:PEN) represents another promising investment opportunity. The company is uniquely placed in that it owns the Lance uranium projects, a major historic production facility in operation since 2015. The company is currently transitioning the facility to restart production using a new ISR method, an initiative slated to be completed prior to 2030.

In-situ recovery

The majority, if not all, current operable and licensed uranium projects in Wyoming employ the ISR method, and for good reason. ISR is a proven approach — in fact, it was first used in the Gas Hills and Shirley Basin uranium districts in the early 1960s.

ISR mining results in minimal waste, as the typically alkaline solution used is non-toxic. It also has a minimal carbon footprint. More importantly, ISR requires a considerably lower upfront capital investment — the technology utilized in ISR mining costs significantly less than even a modest open-pit operation.

ISR mining injects either an alkaline or acidic solution into the deposit being mined. In Wyoming, the solution is most commonly alkaline. Once the solution has leached the uranium out of the surrounding rock, it’s pumped to the surface. This method is significantly cleaner, and has a lower environmental impact when compared to both open-pit and underground mining.

GTI's Thor uranium project is Wyoming’s newest potential ISR project. The company commenced its maiden drilling program in December 2022, aimed at confirming the grade and tenor of uranium mineralisation, and ultimately to support the future definition of an economic ISR uranium resource.

Results announced in late March 2022 from the maiden drill program exceeded expectations for economic ISR uranium recovery. GTI Executive Director Bruce Lane said, "I'm excited by the fact that this first, wide spaced, drill program covered less than 20 percent of GTI's total land holding in the Great Divide Basin with most of our ground still to be tested."

Takeaway

ISR mining is a more cost-effective, environmentally friendly option for uranium production, and Wyoming may well be the perfect region for the technique. Its mining-friendly government, extensive pre-existing infrastructure and massive uranium deposits make it a promising investment target. And together, they may secure the state's position in a nuclear energy-focused future.

This INNSpired article is sponsored by GTI Resources (ASX:GTR). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by GTI Resources in order to help investors learn more about the company. GTI Resources is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.

This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with GTI Resources and seek advice from a qualified investment advisor.

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With oil and gas prices soaring, inflation hitting record levels and questions around supply chain security, uranium is garnering new attention.

After breaking out of a price rut that had constrained values below US$30 per pound since late 2016, the U3O8 spot price broke through that threshold in April 2020 and has been steadily gaining ever since.

Following years of rangebound movement largely attributed to oversupply following the Fukushima nuclear accident in 2011, the uranium market has spent the last two years making large gains — the commodity jumped 164 percent from US$24.70 on January 1, 2020, to US$64.51 on April 13, 2022.

When values hit a five year high in mid-April, it marked a 255 percent price uptick since 2017.

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Valor Resources

Advancing a Diversified Portfolio of Assets in Premier Mining Jurisdictions



Overview

There has never been a better time to invest in commodities than now. BlackRock, the world's largest asset manager, predicts strong demand for commodities that will keep prices at favorable levels for producers for many years into the future –– possibly decades. The demand for lithium is expected to outpace supply, with the upside for the price remaining attractive. Additionally, copper prices are believed to remain high with a modest surplus expected in the future.

The ups and downs of the commodities cycle have often deterred investment due to price declines and reduced cash flow. Portfolio diversification mitigates these risks with assets that span multiple commodity markets to hedge against the price declines of individual commodities. With BlackRock’s bullish outlook, mineral exploration companies with diversified commodity portfolios will likely present an exciting opportunity for investors.

Valor Resources (ASX:VAL) is a mineral exploration company focused on developing a portfolio of highly prospective assets in Peru and Canada. The company has established a diversified portfolio consisting of seven projects covering uranium, and one project covering copper and silver. Valor Resources is led by a highly skilled management team with significant experience in the mineral resource industry.

Valor Resources

The company provides shareholders with a diversified portfolio of assets. Valor Resources’ portfolio consists of the Picha Copper Silver, Hook Lake Uranium, Cluff Lake Uranium, Surprise Creek, Pendleton and Hidden Bay projects. The company also leverages two mines as part of its portfolio, including the Smitty Uranium and Lorado Uranium mines.

Valor Resources’ assets are strategically-located in prolific mining regions. The company’s Hook Lake Uranium, Cluff Lake Uranium, Surprise Creek, Pendleton and Hidden Bay projects are located in the Athabasca Basin in Saskatchewan, Canada. The Athabasca Basin is the top mining jurisdiction for uranium exploration with the highest-grade uranium deposits in the world. Additionally, Valor Resources’ Picha Copper Silver and Corona projects are located in the Moquegua Department in Peru. Peru is the second-largest producer of copper and silver in the world.

The company is currently in the process of rapidly advancing its highly prospective Hook Lake Uranium project through a 2,500-meter maiden diamond drilling program. The project spans 25,846 hectares. The Hook Lake Uranium project features high-grade rock chip samples of up to 56 percent of U3O8. Valor Resources’ drilling program is focused on high-grade areas as well as other high-potential targets. Going forward, the company also plans to conduct an airborne gravity survey in April 2022.

Valor Resources also plans to initiate a drilling program on its fully-owned Picha Copper Silver project in Peru. The 13,830-hectare property features high-grade samples ranging from 1 to 6 percent of copper and 563 grams per tonnes of silver.

The company’s assets leverage proximity to past-producing mines and a multi-million-tonne project. Valor Resources’ Hook Lake Uranium project is located near the past-producing Key Lake Uranium mine owned by Cameco (TSE:CCO) and Orano Canada. The company’s Cluff Lake Uranium project is located near Orano Canada’s Cluff Lake Uranium mine which has produced more than 60 million pounds. Lastly, the company’s Picha project is situated near Compañia de Minas Buenaventura’s (NYSE:BVN) San Gabriel Gold Porphyry project. The San Gabriel Gold Porphyry project has an indicated and inferred resource of 5.3 million tonnes of gold with average grades of 4.6 g/t of gold or approximately 2.5 million ounces of gold.

Company Highlights

  • Valor Resources (ASX:VAL) is developing a diversified portfolio of uranium, copper and silver assets in the Moquegua Department in Peru and the Athabasca Basin in Canada.
  • The company’s portfolio consists of the Picha Copper Silver, Corona, Hook Lake Uranium, Cluff Lake Uranium, Surprise Creek, Pendleton and Hidden Bay projects, as well as the Smitty Uranium and Lorado Uranium mines.
  • Valor Resources’ Hook Lake Uranium project features high-grade rock chip samples of up to 56 percent of U3O8.
  • The company’s fully-owned Picha Copper Silver project features high-grade samples ranging from 1 to 6 percent of copper and 563 grams per tonnes of silver.
  • The company’s assets leverage proximity to past-producing mines and a multi-million-tonne project, including the Cluff Lake Uranium mine, the Key Lake Uranium mine in Saskatchewan and Buenaventura’s San Gabriel Gold Porphyry project in Peru.
  • Valor Resources is currently conducting a 2,500-meter maiden diamond drilling program on its Hook Lake Uranium project, with additional work planned in 2022.
  • Valor Resources is led by a highly skilled management team with significant experience in the mineral resource industry.

Key Projects

Picha Copper Silver Project

The Picha Copper Silver project is located in the Moquegua Department in Southern Peru. The fully-owned 13,830-hectare property is situated approximately 17 kilometers from Compañia de Minas Buenaventura’s San Gabriel Gold Porphyry project.

Valor Resources Picha Copper Silver Project

The Picha Project looking North from Fundicion Target area.

  • Indicated & Inferred Resources: The San Gabriel Gold Porphyry project has an indicated and inferred resource of approximately 12.5 million tonnes of gold with average grades of 6.5 g/t of gold or approximately 2.5 million ounces of gold.
  • Past Samples: The Picha Copper Silver project features previous exploration of two field sampling exercises and geophysical surveys. Samples from the Picha Copper Silver project range from 1 percent to 6 percent of copper with grades of silver as high as 563 grams per tonne including 35.6m @ 1.3% Cu and 22.85 g/t Silver in channel sample at Cobremani and 17.6m @ 1.95% Cu and 29.5g/t Silver in channel sample at Maricate.
  • Geophysical Survey: The geophysical survey conducted on the property consisted of 158.22 line kilometers of Magnetic surveys and 65.5 line kilometers of induced polarization surveys. The survey targeted disseminated and semi-massive copper sulfide mineralization to a maximum depth of approximately 300 meters. The company is confident that the results of the IP surveys will indicate potential targets.

Hook Lake Uranium Project

The Hook Lake Uranium project is located in the Athabasca Basin in Saskatchewan, Canada. The 25,846-hectare property is situated 60 kilometers from the past-producing Key Lake Uranium mine owned by Cameco and Orano Canada in Northern Saskatchewan.

Valor Resources Hook Lake Uranium Project

First drill hole at Hook Lake

  • Rock Chip Results: Rock chip results from the Hook Lake Uranium project include up to 56 percent of U3O8.
  • Diamond Drilling Program: In January 2022, Valor Resources commenced a 2,500-meter maiden diamond drilling program on the Hook Lake Uranium project. The drilling program will test the extent of uranium mineralization in the zone that hosted high-grade rock chips samples of 59.2 percent of U3O8 at the surface. The company’s drilling program will also test a structural and geochemical target called V-Grid. The drilling program is supported by the development of the necessary infrastructure including camp construction.
  • Airborne Gravity Survey: Going forward, Valor Resources also plans to conduct an airborne gravity survey in April 2022.
Valor Resources Hook Lake Project

Cluff Lake Uranium Project*

The Cluff Lake Uranium project is located in the Athabasca Basin in Northern Saskatchewan, Canada. The 62,233-hectare property is situated 7 kilometers from the past-producing Cluff Lake Uranium mine owned by Orano Canada.

  • Historical Production: The Cluff Lake Uranium has produced more than 60 million pounds. The Cluff Lake Uranium project is also located within the Carswell geological complex which is home to the Cluff Lake Uranium mine.
  • Upcoming Drilling: Valor Resources looks forward to potentially drilling the Cluff Lake project in 2022.

Board and Management Team

George Bauk

George Bauk -
Executive Chairman

George Bauk is an experienced company director with over 14 years of experience as a director of listed companies. Bauk’s experience stems from the resources industry, including both production and exploration. Bauk has overseen assets in Western Australia in Australia as well as internationally. He is an experienced executive with 30 years of experience in the resources industry. Bauk holds a Bachelor of Business in Accounting and Finance from Edith Cowan University. He is a Fellow of the CPA and has an MBA from the University of New England. Bauk has held global operational and corporate roles with WMC Resources and Western Metals. Bauk has a strong background in strategic management, business planning, building tea, finance and capital/debt raising of over $350m. Bauk also has experience with a variety of commodities, including rare earths, gold, uranium and industrial minerals. Bauk has overseen several uranium exploration projects in the US, Tanzania and Western Australia. He has partnered with Areva in Western Australia whilst serving as the managing director of Northern Uranium, which is now Northern Minerals. In 2006, Bauk was focused on the southern Tanzanian region which was known for the successful Mkuju River discovery by Mantra Resources.

Gary Billingsley

Gary Billingsley -
Non-Executive Director

Gary Billingsley has over 37 years of experience as a director with listed companies in Canada. Billingsley’s experience stems from the resources industry, including exploration through to production. His experience includes work with oil and gas and mining projects. He has global experience having worked on projects located in Canada, the US and Africa. Billingsley has 48 years of experience in the resources industry. Billingsley holds a Bachelor of Science Advanced degree in geology from the University of Saskatchewan in Canada. Billingsley currently holds designations as a Chartered Accountant, Professional Engineer and Professional Geoscientist. Billingsley has held several operational and corporate roles for both small and large public companies, including chief mine geologist, president and CEO. Besides a strong technical background, he has extensive experience on the corporate financial side. His corporate finance experience spans fundraising and serving on multiple board committees, including audit, compensation, corporate governance and environment, health and safety committees. His public company experience covers commodities including oil and gas, base metals, gold, diamonds, uranium, potash and rare earths.

Brian McMaster

Brian McMaster -
Non-Executive Director

Brian McMaster has almost 20 years of experience in the area of corporate reconstruction, turnaround and performance improvement. McMaster’s experience includes 20 years in the mining industry. McMaster founded Highfield Resources which is an ASX listed potash company with projects in Spain. McMaster has been involved in numerous reorganizations as well as the recapitalization and listing of 12 Australian companies. McMaster’s career to date includes significant working periods in the United States, South America, Asia and India. McMaster was a founding director of Garrison Capital Pty Ltd. which is a venture capital and advisory firm. McMaster is also currently the director of many ASX-listed companies.

Paula Smith

Paula Smith - Non-Executive Director and Company Secretary

Paula Smith is a finance professional with over 12 years of experience. Smith is presently a director of a consulting and secretarial advisory firm that specializes in business advisory, consulting and back-office support (finance and secretarial) to SMEs and ASX-listed entities. Before that, Smith held senior roles in advisory firms KordaMentha and Ernst & Young. Smith holds an Honors Bachelor of Commerce/Law. Smith is a qualified Chartered Accountant and a graduate of the Australian Institute of Company Directors.

Robin Wilson

Robin Wilson - Exploration Manager

Robin has held senior exploration positions in several exploration and mining companies, including Polaris Metals, Tanganyika Gold, Troy Resources and CRA Exploration. He also spent 5 years working in oil and gas exploration for Woodside Energy. During nearly 30 years of involvement in mineral exploration, Mr Wilson has worked on gold, nickel, REE, uranium, copper, lithium and phosphate projects throughout Australia and Africa and was involved in the initial discovery and outlining of several gold deposits. Between 2006 and 2021 he led the Northern Minerals exploration team that discovered the Browns Range REE deposits that have been developed and produced HRE carbonate.

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VAL:AU
nuclear reactors against water
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It might feel like uranium's bull story has gotten long in the tooth, said Justin Huhn of Uranium Insider — but major firms haven't even entered the market yet.

- YouTube youtu.be

Uranium prices faced headwinds last week, falling below the US$60 per pound level, but Justin Huhn, founder and publisher of Uranium Insider, believes the market still has plenty of room to run.

"From a retail investor perspective, it's easy to look at weekly charts of some of the uranium stocks and be like, 'Oh my gosh, we're up so much in the past three years, this rally has got to be close to over,'" he said.

"And then you talk to somebody like John (Ciampaglia) at Sprott, and he's telling you, 'Yeah, the big money can't even position yet because the market's not large enough — and they will when it (is)."

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a bowl of U3O8 yellowcake

What are the largest ASX uranium stocks? Here's a brief look at the biggest uranium companies by market cap in 2022.

2020 and 2021 were breakout years for uranium. Between January and September 2021, prices jumped from US$29.63 per pound to US$50.63 and they have remained above US$40 since then.

In the first quarter of 2022, sentiment surrounding the energy fuel was still holding strong. After uranium's two consecutive years of growth amid the pandemic, investors and companies alike are optimistic about the future.

Below the Investing News Network has listed the biggest uranium stocks on the ASX by market cap. Data for this list was obtained on April 14, 2022, using TradingView's stock screener.


1. Paladin Energy

Market cap: AU$2.69 billion; current share price: AU$0.96

Paladin Energy (ASX:PDN) is an independent uranium production company based out of Western Australia whose goal is to be a reliable supplier of clean energy for the future.

The company currently has one mine in operation: the Langer Henrich uranium operation in Namibia. While work was paused in 2018 due to continued low uranium prices, the asset is now back up and running.

2. Energy Resources of Australia

Market cap: AU$1.34 billion; current share price: AU$0.36

Energy Resources of Australia (ASX:ERA) has been one of the longest continually operating uranium oxide producers worldwide for over 40 years. The company bills itself as a reliable source of fuel for the global nuclear power industry. Located in Australia's Northern Territory, its Ranger mine covers 79 square kilometres.

3. Boss Energy

Market cap: AU$954.23 million; current share price: AU$2.98

According to Boss Energy (ASX:BOE), its Honeymoon project in South Australia is set to be the country's next uranium producer. The project is licenced and permitted for the production, storage and export of uranium; it also has a strategically designed processing plant and a small footprint.

Since it acquired Honeymoon in December 2015, Boss has developed its worldwide JORC resource from 16.6 million pounds to 71.6 million pounds. Global mining company First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) recently entered an agreement to fund base and precious metals exploration at Honeymoon as well.

4. Lotus Resources

Market cap: AU$481.96 million; current share price: AU$0.39

Lotus Resources (ASX:LOT) is a uranium development company. Its work is centred on the Kayelekera uranium mine in Malawi, Africa, which was shut down due to prolonged low uranium prices.

In early 2022, Lotus increased the mineral resource estimate for Kayelekera by 23 percent from the previous amount; it now sits at 46.3 million pounds at 500 parts per million U3O8. The company is focused on restarting and recommissioning the mine by mid-2022, and will likely begin production shortly after.

5. Deep Yellow

Market cap: AU$435.19 million; current share price: AU$1.13

Deep Yellow (ASX:DYL) is committed to becoming a high-output, cost-effective, tier one uranium company. Its project portfolio in Namibia consists of three different assets over a total of 1,685 square kilometres: the Reptile project, the Nova joint venture and the Yellow Dune joint venture.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I Marlee John, hold no direct investment interest in any company mentioned in this article.

cooling tower of heavy industry factory in beijing
06photo / Shutterstock

David Talbot of Red Cloud discusses current events in the uranium space, including Sprott trust buying and the impact of Russia/Ukraine events.

David Talbot: Uranium Supply, Demand and Prices — What to Watch in 2022 youtu.be

Attention is shifting to the uranium market, with prices creeping up as supply concerns mount.

David Talbot, managing director and head of research at Red Cloud, gave his thoughts on what's going on, focusing on the Sprott Physical Uranium Trust (TSX:U.UN) and the impact of the Russia/Ukraine conflict.

"It does seem apparent that many investors believes this Russia/Ukraine situation will lead to higher uranium prices," he told the Investing News Network. "That said, I don't think there is a lot of risk premium built into the current spot price. The price appreciation looks to be more a response to Sprott buying."

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Valor Resources Logo
Valor Resources Limited (ASX:VAL) – Trading Halt
Valor Resources Limited (ASX:VAL) – Trading Halt

Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is pleased to announce the commencement of an airborne gravity gradiometry (AGG) survey at the Hook Lake and Hidden Bay Uranium Project (the Project) in the eastern Athabasca Basin.


HIGHLIGHTS

  • Airborne Gravity Gradiometry (AGG) Survey has commenced on the Hook Lake and Hidden Bay Uranium Projects
  • Total 2,700 line kilometres at 150m line spacing
  • Assay results pending from recent drilling program at Hook Lake
  • Further on-ground work to commence in June