Resource World Magazine

42 www.resourceworld.com A P R I L / M A Y 2 0 2 0 Triple R deposit and the Spitfire high- grade discovery on the Hook Lake Project, which is owned jointly by Cameco, Orano Canada Inc. and Purepoint Uranium Group Inc. [PTU-TSXV]. Orano recently 70%-optioned 49,635 hectares of the Preston Project for up to $7.3 million in exploration spending. Orano has begun exploration at Preston. Blue Sky Uranium Corp. [BSK-TSXV; BKUCF-OTCQB; MAL2-FSE] is a leader in the field of uranium discovery in Argentina. The company's objective is to rapidly advance a portfolio of uranium- vanadium projects into low-cost producers. The company's flagship Amarillo Grande Project was an in-house discovery of a new district that hosts the largest NI 43-101 uranium resource in the country with an initial preliminary economic assessment. Denison Mines Corp. [DML-TSX] is a uranium exploration and development company with interests focused in the Athabasca Basin region, including its 90%- owned Wheeler River Project, which holds the high-grade Phoenix and Gryphon uranium deposits (on the Wheeler River property). The Environmental Assessment at Wheeler River has been temporarily suspended. Denison also owns a 22.5% interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill. The mill, which has a capacity of about 24 mil - lion lbs of uranium per year, is currently processing ore from the Cigar Lake mine under a toll mining agreement. A NI 43-101 compliant pre-feasibility study was completed for Wheeler River in September, 2018. It is highlighted by the selection of the in-situ recovery mining method for the development of the Phoenix deposit, with an estimated average operat - ing cost of US $3.33 per pound of U 3 O 8 . Dixie Gold Inc. [DG-TSXV] is focused on exploration at its Preston Uranium Project in the Western Athabasca Basin near Fission Uranium's Triple R deposit, and NexGen Energy's high grade Arrow deposit. Dixie Gold's partner on the proj - ect is Orano Canada Inc. Under an agreement with Dixie and Skyharbour Resources, Orano can earn a 70% project interest by spending up to $8 million over six years. The deal was announced on March 9, 2017. Energy Fuels Inc. [EFR-TSX; UUUU- NYSE American] has been the number one uranium producer in the US for the past several years. It holds three of America's three uranium production facilities, includ - ing the currently producing White Mesa Mill in Utah and Nicholas Ranch in situ recovery (ISR) facility in Wyoming, along with the recently producing Alta Mesa ISR Facility in Texas, which is currently on standby. The company has said it sees mul- tiple other unique opportunities in critical minerals offered by the White Mesa mill, including vanadium production and the potential for rare earth element processing. Fission Uranium Corp. [FCU-TSX; FCUUF-OTCQX; 2FU-FSE] recently released the results of a pre-feasibility study (PFS) for an underground-only mining scenario at its flagship Patterson Lake South ura - nium property in the Athabasca basin. The company said the underground PFS follows the results of an earlier PFS report, which outlined a hybrid mine approach using both open pit and underground techniques. Highlights from the earlier PFS report, which was released in April, 2019, envis - aged average production of 15 million pounds of U 3 O 8 annually during the first five years of production from mineral reserves of 90.5 million pounds of U 3 O 8 . That scenario was based on initial Capex of $1.5 billion and operating expen- diture of US $6.77 per pound. It envisaged a four-year construction period and 8.2- year mine life. Fission. has closed a US $10 million senior secured credit facility with Sprott Resource Lending II (Collector) LP. Forum Energy Metals Corp. [FMC- TSXV; FDCFF-OTC; F3E-FSE] recently commenced diamond drilling on its Fir Island uranium project located on the north rim of the Athabasca Basin. Forum is the operator of the project and all explo - ration is funded by Orano Canada Inc. as part of an option agreement to earn up to a 70% interest by spending up to $6 million by December, 2023. The 2020 program is budgeted at $1 million with 8.0 to 10 drills planned. IsoEnergy Ltd. [ISO-TSXV] recently released chemical assay results from a discovery of high-grade uranium miner - alization on the company's 100%-owned Larocque East property in the Eastern Athabasca Basin. In a news release on February 25, 2020, IsoEnergy reported chemical assays from two drill holes that intersected strong radioactivity early in the winter drilling program at the new discov - ery, which is known as the Hurricane zone. The company said drill hole LE20-34 URANIUM U.S. Nuclear Power Facts • The United States is the world's largest producer of nuclear power. It generated 807.1 billion kilowatt hours of electricity in 2018 – the highest total ever. • Commercial nuclear power plants have supplied around 20% of the nation's electricity each year since 1990. • Nuclear energy provided 55% of America's carbon-free electricity in 2018, making it by far the largest domestic source of clean energy. • Nuclear power plants do not emit greenhouse gases while generating electricity. • Nuclear power plants operated at full capacity more than 92% of the time in 2018, the most reliable energy source in America. That's about 1.5 to 2 times more reliable as natural gas (58%) and coal (54%) plants, and roughly 2.5 to 3.5 times more reliable than wind (37%) and solar (26%) plants. • Nuclear power plants are designed to run 24 hours a day, 7 days a week because they require less maintenance and can operate for longer stretches before refueling. • As of September 2018, 98 commercial reactors help power homes and busi- nesses in 30 states.

• Cover