Highlights
- Indicated Mineral Resources of 48.61 million lbs of U3O8 based on 63,800 tonnes grading 34.5% U3O8, including 43.89 million lbs U3O8 at an average grade of 52.1% U3O8 within the high-grade domain
- Inferred Mineral Resources of 2.66 million lbs of U3O8 based on 54,300 tonnes grading 2.2% U3O8
- Indicated Mineral Resources are highly insensitive to cut-off grade due to the high-grade and compact nature of the Hurricane Deposit (refer Table 2)
Table 1 – Summary of Hurricane Attributable Mineral Resources (as of
Category | Domain | Tonnage | Grade | Contained Metal |
Indicated | High-Grade | 38.2 | 52.1 | 43.89 |
Medium-Grade | 25.6 | 8.4 | 4.72 | |
Low-Grade | - | - | - | |
Indicated Total | 63.8 | 34.5 | 48.61 | |
Inferred | High-Grade | - | - | - |
Medium-Grade | 4.0 | 11.2 | 1.00 | |
Low-Grade | 50.3 | 1.5 | 1.66 | |
Inferred Total | 54.3 | 2.2 | 2.66 |
Notes: | |
1. | CIM (2014) definitions were followed for all Mineral Resource categories. |
2. | Mineral Resources are estimated at a uranium cut-off grade of 1.00% U3O8. |
3. | Tonnes are based on bulk density weighting. |
4. | Mineral Resources are estimated using a long-term uranium price of |
5. | Minimum grade width of one metre was applied to the resource domain wireframes. |
6. | Bulk density was interpolated using values derived from a regression curve based on U3O8 assay values. |
7. | Numbers may not add due to rounding. |
Table 2 – Hurricane Block Model Sensitivity to Cut-Off Grade (as of
Resource | Cut-off Grade | Tonnage | Grade | Contained Metal |
Indicated | 0.05 | 63.8 | 36.72 | 48.61 |
0.25 | 63.8 | 36.72 | 48.61 | |
0.50 | 63.8 | 36.72 | 48.61 | |
0.75 | 63.8 | 36.72 | 48.61 | |
1.00 | 63.8 | 36.72 | 48.61 | |
2.00 | 63.8 | 36.76 | 48.61 | |
3.00 | 63.4 | 36.98 | 48.58 | |
5.00 | 60.1 | 38.75 | 48.29 | |
10.00 | 44.1 | 49.63 | 45.65 | |
Inferred | 0.05 | 288.2 | 0.73 | 4.67 |
0.25 | 199.6 | 0.99 | 4.37 | |
0.50 | 124.5 | 1.37 | 3.77 | |
0.75 | 82.3 | 1.76 | 3.20 | |
1.00 | 54.3 | 2.23 | 2.66 | |
2.00 | 11.5 | 5.57 | 1.42 | |
3.00 | 5.1 | 9.62 | 1.08 | |
5.00 | 4.0 | 11.21 | 1.00 | |
10.00 | 2.0 | 13.42 | 0.61 |
Note: Mineral Resources are estimated at a uranium cut off grade of 1.0% U3O8 |
Hurricane's exceptionally high uranium grade and relatively shallow depth, together with its proximity to existing eastern
Geology and Mineralization
The Hurricane zone measures 375 metres along strike, up to 125 metres wide, and up to 12 metres thick. The high-grade domain, which contains 43.89 million pounds of U3O8 at an average grade of 52.1% U3O8, occupies an area 125 metres long and is up to 63 metres wide and up to 4.5 metres thick. Mineralization at Hurricane occurs at the sub-
Drilling, Sampling and Analytical
The Mineral Resource Estimate was defined using 52 diamond drill holes totaling 20,387 metres and using 785 samples. Uranium grade data comprises chemical assays of half split drill core samples collected on site by
Estimation Methodology
Mineral Resources were estimated by
Wireframe models of mineralized zones were used to constrain the block model grade interpolation process. The models represent grade envelopes using the geological interpretation described above as guidance. The wireframes consisted of Low-Grade (LG), Medium-Grade (MG), and High-Grade (HG) domains at nominal cut-off grades (COG) of 0.05%, 5.0%, and 25.0% U3O8, respectively (Figures 1 and 2). Sample intervals with assay results less than the nominated COG were included within the mineralized wireframes if the core length was less than two metres or allowed for modelling of grade continuity. Hard domain boundaries were employed to prevent assay results from one domain influencing the remaining domains.
Statistical evaluation of samples from each domain was completed separately to determine the treatment of high-grade assays. No capping was applied to the High-Grade domain; assays were capped at 5.0% U3O8 and 20.0% U3O8 within the Low- and Medium-Grade domains, respectively. High grade x density threshold value of 250 (approximately equivalent to 55% U3O8) spatial restrictions equal to half the parent search ellipse dimensions were utilized within the High-Grade domain.
The uranium grade was used to estimate the density of each sample using polynomial formula developed by SLR from the results of 115 samples analyzed for bulk density and uranium grade. Densities were then interpolated into the block model to convert mineralized volumes to tonnage and were also used to weight the uranium grades interpolated into each block.
Blocks were classified as Indicated or Inferred based on drill hole spacing, confidence in the geological interpretation, and apparent continuity of mineralization. All the blocks within the HG domains and blocks within the MG domain with apparent grade continuity from two or more holes were classified as Indicated. For the LG grade domain, blocks that did not meet the criteria of grade x thickness (GT) greater or equal to 1.0%m were removed from the Mineral Resource reporting. The block model was validated using swath plots of composite grades versus inverse distance cubed, ordinary kriging, and nearest neighbour grades in the X, Y, and Z dimensions, volumetric comparison of blocks versus wireframes, visual inspection of block versus composite grades on plan, vertical, and long section, and statistical comparison of block grades and assay composite grades.
Table 3 – Selected Drilling Results from the Hurricane Deposit
Hole-ID | From | To | Length | Chemical Assays | Azimuth/Dip | Hole Length | Location | Note |
LE20-30 | 329.5 332.0 | 334.5 333.0 | 5.0 1.0 | 7.8 34.9 | 180/-80 | 442.0 | Section 4460E | Mineralized HG Domain Intercept |
incl. | ||||||||
LE20-32A | 329.5 | 339.0 | 9.5 2.5 | 17.5 63.6 | 180/-80 | 470.0 | Section 4510E | Mineralized HG Domain Intercept |
incl. | 334.5 | 337.0 | ||||||
LE20-34 | 325.5 | 334.0 | 8.5 4.5 | 33.9 62.1 | 180/-80 | 461.0 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 328.0 | 332.5 | ||||||
LE20-40 | 319.5 | 326.0 | 6.5 1.5 | 12.6 53.8 | 000/-90 | 368.0 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 323.0 | 324.5 | ||||||
LE20-51 | 322.0 | 330.0 | 8.0 2.5 | 13.6 38.4 | 000/-90 | 341.0 | Section 4510E | Mineralized HG Domain Intercept |
incl. | 326.5 | 329.0 | ||||||
LE20-52 | 318.5 | 326.0 | 7.5 2.0 | 22.7 79.2 | 000/-90 | 365.0 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 322.5 | 324.5 | ||||||
LE20-53 | 317.5 | 328.0 | 10.5 2.5 | 11.7 44.7 | 000/-90 | 374.0 | Section 4410E | Mineralized HG Domain Intercept |
incl. | 325.0 | 327.5 | ||||||
LE20-54 | 329.5 | 337.5 | 8.0 3.5 | 14.4 28.1 | 180/-79 | 428.5 | Section 4510E | Mineralized HG Domain Intercept |
incl. | 333.5 | 337.0 | ||||||
LE20-57 | 343.3 | 350.3 | 7.0 2.0 | 16.6 52.6 | 217/-70 | 413.3 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 347.3 | 349.3 | ||||||
LE20-62 | 321.0 | 325.5 | 4.5 1.0 | 6.2 18.5 | 000/-90 | 350.0 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 324.5 | 325.5 | ||||||
LE20-64 | 322.5 | 329.0 | 6.5 4.5 | 37.6 54.2 | 000/-90 | 412.5 | Section 4535E | Mineralized HG Domain Intercept |
incl. | 324.5 | 329.0 | ||||||
LE20-68 | 320.0 | 334.0 | 14.0 1.5 | 5.5 49.3 | 180/-80 | 470.0 | Section 4485E | Mineralized HG Domain Intercept |
incl. | 332.0 | 333.5 | ||||||
LE20-72 | 320.5 | 326.5 | 6.0 1.0 | 6.2 27.8 | 000/-90 | 398.0 | Section 4460E | Mineralized HG Domain Intercept |
incl. | 325.0 | 326.0 | ||||||
LE20-76 | 322.5 | 330.5 | 8.0 4.0 | 36.4 71.7 | 000/-90 | 359.0 | Section 4435E | Mineralized HG Domain Intercept |
incl. | 323.5 | 327.5 | ||||||
LE21-78C11 | 248.0 | 260.0 | 12.0 1.0 | 5.2 42.4 | 000/-90 | 323.0 | Section 4460E | Mineralized HG Domain Intercept |
incl. | 257.5 | 258.5 | ||||||
LE21-107 | 324.5 | 332.0 | 7.5 3.5 | 17.7 34.5 | 000/-90 | 344.0 | Section 4485E | Mineralized HG Domain Intercept |
incl. | 327.5 | 331.0 |
Notes: | ||||
All results previously disclosed | ||||
1: LE21-78C1 is a wedged offcut from LE21-78 at 70m |
Qualified Person Statement
The "Qualified Person" for the Mineral Resource Estimate is
All chemical analyses are completed for the Company by
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