- Summer Program Planned – A permit application has been submitted to the relevant authorities with respect to a planned summer field program on the Project. The program is expected to commence on or about
July 1, 2021 and will include UAV topo survey (LiDAR and/or photogrammetry) and geological mapping/structural analysis. - 43-101 Technical Report Underway -
Terrane Geoscience Inc. , based in Maritime Canada, has been retained to complete a technical report on the Project in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Completion of the report will require a site visit to the Project, which is currently scheduled for later this month but may be delayed due to COVID 19 travel restrictions. The technical report will be filed on SEDAR when completed. - Historical Data Being Compiled and Analyzed – The Project was the subject of significant past exploration programs. The Company is now in possession of a large amount of the data from the past work which includes drilling data, mapping, sampling, metallurgy and numerous geophysical surveys. Specifically, the geophysical data includes Gravity, EM, IP, Magnetics and Radiometric surveys. A thorough review of this data is underway which will be used to further refine the geological model and enhance our understanding of the controls on mineralization. This work, when taken together with results from the planned summer program, will be used to help determine the next steps for the Project.
- Aggressive Staking in the Central Mineral Belt – Recent staking activity in the Central Mineral Belt has seen large amounts of ground taken up, by other parties, including to the east, west and south of the
Moran Lake Project (Figure1). In particular, Altius Minerals Corporation has taken up a substantial ground position in the Belt. - Canada Remains Focus Area – Moran Lake is one of three projects that the Company has optioned or acquired in
Canada , such that the Company now has a presence inNunavut andQuebec as well asLabrador . As one of the top global mining jurisdictions and having significant past expenditures on uranium exploration and development, the Company intends to continue to build out its project portfolio inCanada .
The Project is located within the Central Mineral Belt of
Figure 1 – Map of the Central Mineral Belt is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39d44fc0-36b2-4a3d-82df-7a58610eceb8
Uranium was first discovered near Moran Lake by
Uranium mineralization at the C zone mainly occurs in two distinct zones, referred to as the Upper C (“UC”) and Lower C (LC). Mineralization in the UC is hosted within brecciated, hematite altered and/or bleached mafic volcanics, and hematitic cherts of the
In 2004,
Global 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 National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is not considered by the Company to be current.
Project | Location | Category | Tonnes (m) | U3O8 Cut-Off Grade (ppm) | Grade U3O8 (ppm) | Contained U3O8 (m lbs) | V2O5 Cut-Off Grade (ppm) | Grade V2O5 (ppm) | Contained V2O5 (m lbs) |
Indicated | 1.33 | 500 | 2700 | 7.9 | |||||
Inferred | 0.6 | 500 | 2100 | 2.8 | |||||
Maureen | Indicated | 3.1 | 150 | 900 | 5.9 | ||||
Inferred | 0.2 | 150 | 1100 | 0.4 | |||||
Inferred | 1.6 | 1000 | 2300 | 8.2 | |||||
Moran Lake | |||||||||
Vanadium Outside of Uranium | Indicated | 7.8 | 1500 | 1800 | 30.9 | ||||
Vanadium Within Uranium | Indicated | 6.9 | 150 | 340 | 5.2 | 780 | 11.9 | ||
Total | Indicated | 14.7 | 340 | 5.2 | 1517 | 42.8 | |||
Vanadium Outside of Uranium | Inferred | 21.6 | 1500 | 1710 | 81.3 | ||||
Inferred | 5.3 | 150 | 240 | 2.8 | 890 | 10.4 | |||
Inferred | 1.5 | 350 | 500 | 1.6 | 580 | 1.9 | |||
Total | Inferred | 28.3 | 334 | 4.4 | 1596 | 93.6 | |||
Laguna Salada | Chubut, | ||||||||
Guanaco | Indicated | 44.6 | 25 | 55 | 5.5 | 530 | 52.0 | ||
Indicated | 2.7 | 100 | 145 | 0.9 | 840 | 5.0 | |||
Total | Indicated | 47.3 | 60 | 6.4 | 550 | 57.0 | |||
Guanaco | Inferred | 19.4 | 25 | 80 | 3.4 | 555 | 23.7 | ||
Inferred | 1.3 | 100 | 130 | 0.4 | 1065 | 3.1 | |||
Total | Inferred | 20.8 | 85 | 3.8 | 590 | 26.9 | |||
Inferred | 19.3 | 200 | 570 | 24.4 |
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was prepared by
Each of the above mineral resource 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 Deposit Queensland, Australia” datedJuly 16, 2005 ;Georgetown /Maureen: 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 of
January 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 byFission 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 Moran Lake, as disclosed in the above noted technical report, the historical estimate was prepared by
For Laguna Salada, as disclosed in the above noted technical report, the historical estimate was prepared by
For
About
In addition, the Company owns 80% of the Mt. Roe gold project located in the Pilbara region of
known as the
President and CEO
+1 778 383 3057
pwilliams@consolidateduranium.com
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 the anticipated timing, scope and outcome of the summer filed program to be completed at the Project and the Company’s plans to complete a NI 43-101 compliance technical report with respect to the Project. 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.
Figure 1 – Map of the Central Mineral Belt
Figure 1 – Map of the Central Mineral Belt
2021 GlobeNewswire, Inc., source