This mining prospect consists of 1831 acres in two lease tracts, designated as C-AM-19A and C-AM-20, leased from the US Department of Energy (formerly the Atomic Energy Commission). Both tracts combined contain historical drill indicated resources (not 43-101 compliant) of 2,300,000 lbs. of uranium and about 4.5 to 5 times that much vanadium. These historical resource estimates are based on information provided by Department of Energy (‘DOE’) in February of 2008 and historical regional mining and drilling by Union Carbide Corporation and others. DOE data from estimates originally prepared by the Atomic Energy Commission ("AEC"), based on US Geological Survey and AEC drilling conducted during 1951 — 1953. AEC/DOE do not apply resource categories or qualifiers.
Location
21 miles northwest of Nucla, Montrose County, Colorado
NI 43-101 Resource Tons
Not determined
NI 43-101 Resource U3O8 lbs.
2,300,000 lbs. (see source above)
NI 43-101 Resource V2O5 lbs.
4.5 to 5 times the U3O8 resource
Permit Status
Permit application pending resource definition
Planned Production Rate
not determined
Estimated Annual Production
not determined
Projected Life of Mine
not determined
Production Status
Historical production from Union Carbide's King Solomon Mine and other small mines on Atkinson Mesa.