- Historic Mineral Resources – Based on a 2006 technical report,
Dieter Lake was considered to have a historic inferred mineral resource of 19.3m tonnes at an average grade of 0.057% containing 24.4m lbs of U3O8. This mineral resource estimate is considered to be a historical estimate under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is not considered by the Company to be current. See below under the heading "Historic Mineral Resource Table". - Pedigreed Past Owners –
Dieter Lake was formerly held by Uranerz Exploration and Mining,Strathmore Minerals Corporation ,Fission Energy Corp. and Denison Mines Corp. - First Project Acquisition of 2021 – Following on the heels of an active 2020, the Company now owns outright, or has agreements to acquire, six uranium projects in
Australia ,Canada andArgentina . - On the Ground Expertise – Through its agreement with Jadeite, CUR is now well positioned to find, acquire and manage uranium projects in
Quebec and other parts ofCanada . - Proven Mining Jurisdiction with Uranium Endowment –
Quebec ranks highly as a mining jurisdiction and has seen significant past expenditures on uranium exploration by both major and junior mining companies. - Low Acquisition and Holding Costs -
Dieter Lake was acquired by staking and is expected to require modest annual expenditures to maintain.
The Dieter
Uranium mineralization at Dieter Lake is in the form of fine-grained, sooty pitchblende within a shale-wacke horizon of the Sakami Formation. The pitchblende is accompanied by various sulphides and moderately associated with metallic elements Fe, Cu, V and Mo. The uranium ore horizon bed has been traced over an east-west distance of 5 km and is generally 20 to 80 m above the unconformity. It ranges from 0.2 to 3 m thick and has been observed up to 5 m thick.
Uranerz Exploration and Mining conducted significant exploration at Dieter Lake in the late 1970s and early 1980s. Extensive mapping and sampling programs were completed, involving the collection of rock, soil, lake water, and lake sediment samples. Airborne and ground geophysical programs were completed; as well as, diamond drilling, including at least 145 holes. More recently, in 2011,
Historic Mineral Resource Table
The table below sets out the historical mineral resource estimates for each project CUR currently owns outright or on which it has announced an option agreement. The mineral resource estimate for each project is considered to be a "historical estimate" under NI 43-101 and is not considered by the Company to be current.
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was prepared by
Each of the above estimates are considered to be "historical estimates" as defined under NI 43-101, and have been sourced as follows:
Ben Lomond : dated as of 1982, and reported by Mega Uranium Ltd. in a company report entitled "Technical Report on the Mining Leases Covering the Ben Lomond Uranium-Molybdenum DepositQueensland, Australia " datedJuly 16, 2005 ;Georgetown /Mauree: dated as ofJune 25, 2008 , and reported by Mega Uranium Ltd. in a company report entitled "A Review and Resource Estimate of the Maureen Uranium-Molybdenum Deposit,North Queensland, Australia Held by Mega Uranium Ltd." datedJune 25, 2008 ;Mountain Lake : dated as ofFebruary 15, 2005 and reported byTriex Mineral Corporation in a company report entitled "Mountain Lake Property Nunavut" datedFebruary 15, 2005 ;Moran Lake : dated as ofJanuary 20, 2011 as revisedMarch 10, 2011 and reported byCrosshair Exploration & Mining Corp. in a company report entitled "Technical Report on the Central Mineral Belt (Cmb) Uranium –Vanadium Project ,Labrador, Canada " datedJanuary 20, 2011 as revisedMarch 10, 2011 ;- Laguna Salada: dated as of
May 20, 2011 and reported by U3O8 Corporation in a company report entitled "NI 43-101 Technical Report Laguna Salada Initial Resource Estimate" datedMay 20, 2011 ; and - Dieter Lake: dated 2006 and reported by
Fission Energy Corp. in a company report entitled "Technical Report on the DieterLake Property ,Quebec, Canada " datedOctober 7, 2011 .
In each instance, the historical estimate is reported using the categories of Mineral Resources and Mineral Reserves as defined by NI 43-101, but is not considered by the Company to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and the Company is not treating the historical estimate as a current Mineral Resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.
For
For
For
For
For Laguna Salada, as disclosed in the above noted technical report, the historical estimate was prepared by
For Dieter Lake, as disclosed in the above noted technical report, the historical estimate was prepared by Davis & Guo using the Thiessen (Voronoi) polygon method. Data constraints used were 200 ppm, 500 ppm, and 1000ppm U3O8 over a minimum of 1 metre thickness. Polygons created had radii of 200 metres. A rock density of 2.67g/cm3 was used. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Dieter Lake historical estimate as a current Mineral Resource.
About
In addition, the Company owns 80% of the Mt. Roe gold project located in the Pilbara region of
Neither
Cautionary Statement Regarding "Forward-Looking" Information.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including plans to find, acquire and manage additional projects and the anticipated expenditures to maintain Dieter Lake. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
Reader should also be cautioned that where reference is made to mineralization of adjacent or near-by properties it is not necessarily indicative of mineralization hosted on the Company's Property.
SOURCE
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