Issue link: http://resourceworld.uberflip.com/i/1037672
40 www.resourceworld.com O C T O B E R / N O V E M B E R 2 0 1 8 Argentina. The drilling program covered targeted areas, adjacent to the current mineral resource, that were identified by auger drilling and radiometric probe to have strong potential for delineation of deposit extensions. The company released a maiden resource in March 2018 after a drill program it began in 2016. Surface explo- ration, geophysical surveying and more than 8,000 metres of drilling went in to developing Ivana's shallow, 23.9 million inferred tonnes grading 0.036% uranium oxide for 19.1 million lb. uranium oxide. Denison Mines Corp. [DML-TSX] has interests in the Athabasca Basin, includ- ing its flagship 90%-owned Wheeler River Project, which hosts the Phoenix and Gryphon deposits. It released a posi- tive Pre-Feasibility Study contemplating co-developing the Phoenix deposit by in-situ recovery and the Gryphon deposit as an underground operation. Gryphon ore would be processed at Denison's 22.5%-owned McClean Lake mill. The two mines are estimated to pro- duce 109.4 million lbs U3O8 over 14 years with a base case pre-tax NPV of $1.31 bil- lion (8% discount rate), an IRR of 38.7% and an initial pre-production Capex of $322.5 million. David Cates, President and CEO, said, "The selection of ISR mining for the high-grade Phoenix deposit is a defining moment for our company and a poten- tially transformational development for the future of uranium mining in the Athabasca Basin – bringing the world's lowest cost uranium mining method to the jurisdiction hosting the world's high- est-grade uranium deposits. "Based on an estimated production cost of US $3.33/lb U 3 O 8 and relatively modest initial capital costs, Phoenix is expected to have superior leverage to an anticipated recovery of the spot price of uranium since the operation may not require a book of long-term contracts to support a development decision." Denison is manager of Uranium Participation Corp. [U-TSX] which invests in uranium oxide and uranium hexa- fluoride. Denison, 64.22%, and Korea Waterbury Uranium, 35.78%, have been drilling the Waterbury Lake Project Isoenergy Ltd. [ISO-TSXV; ISENF- OTCQX] announced geochemistry results for the interval of uranium mineraliza- tion intersected in previously reported drill hole LE18-01A. Hole LE18-01A was completed on the 100%-owned Larocque East property in the Eastern Athabasca basin. A broad, 8.5-metre-long interval of elevated radioactivity averaged 1.26% U 3 O 8 (above a cut-off of 0.1% U 3 O 8 ), and includes a higher-grade subinterval of 3.58% U 3 O 8 over 2.5 metres. Within the higher-grade subinterval is a zone of off-scale radioactivity (>15,000 cps on scintillometer) that averages 6.45% U 3 O 8 over 1.0 metre. This new zone of miner- alization has been named the Hurricane Zone. Plateau Energy Metals Inc. [PLU- TSXV] is a uranium exploration and development company, which also offers exposure to lithium. The company has a growing lithium and uranium resource at its Falchani Project in Peru, located within a largely unexplored tenement package covering 910 km 2 . On July 24, 2018, the company announced a maiden lithium resource estimate for the Falchani Project. Indicated resources within the lithium-rich tuff sequence stands at 34.82 million tonnes at 0.73% Li 2 O, plus 77.80 million tonnes at 0.73% Li 2 O inferred. CanAlaska Uranium Ltd. [CVV- TSXV, CVVUF-OTCQB, DH7-FSE] is a uranium exploration company with a large land position in the Athabasca Basin. Its flagship property is the West McArthur Project on the eastern side of the Athabasca Basin, adjacent to Cameco's McArthur River Mine. Cameco's new Fox Lake deposit (68.1 million pounds grad- ing 7.99% U 3 O 8 ) is located immediately east of the property. Under an option agreement, Cameco can earn a 60% inter- est by spending $12.5 million. Canalaska said $20 million worth of work completed on the property has identified seven tar- get areas currently being evaluated. Senator Minerals Inc. [SNR: TSXV; SNRAF-OTC; TIKA-FSE] controls the Patterson North East (PNE) and Carter Lake uranium projects, both on the west side of the Athabasca Basin. The PNE Project adjoins the eastern boundary of the Fission 3.0 Corp. [FUU-TSXV] Patterson Lake North (PLN) Project. Fission 3.0 is a subsidiary of Fission Uranium Corp., [FCU-TSX], the company that made headlines in 2012 by discov- ering high-grade uranium zones on the Patterson Lake South property. The Carter Lake Project adjoins Cameco's Hook Lake Project to the south. Skyharbour Resources Ltd. [SYH- TSXV; SYHBF-OTCQB; SC1P-FSE] reported its option partner Azincourt Energy Corp. [AAZ-TSXV; AZURF-OTC] provided an update for its upcoming winter work program at the East Preston uranium project in the southwestern Athabasca basin. The 2018-19 winter work program is planned to begin after mid-November and will include approxi- mately 2,000-2,500 metres of diamond drilling designed to test several previ- ously identified high-priority targets. Azincourt can earn a 70% interest in the 25,329- hectare project. Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corri- dors and refined additional targets near previous drilling along the Swoosh cor- ridor. Separately, Azincourt Energy has entered into a definitive property option agreement with 1177865 B.C. Ltd. to acquire three uranium-lithium explo- ration projects located in the Picotani volcanic field in Carabaya and San Antanio De Putina provinces, Puno region, southeastern Peru. n URANIUM www.resourceworld.com