Issue link: http://resourceworld.uberflip.com/i/162873
WESTERN USA continued from page 35 QUEBEC continued from page 19 ing facility will have a capacity of up to 2 million lbs per year uranium yellowcake and is scheduled to come on stream during H2 2013. On July 3, the company announced it had signed a supply agreement with a US-based nuclear operating company. It will ship between 200,000 and 300,000 lbs uranium concentrate each year starting in 2017. The company has several other interests in Western USA, including the Lost Soldier Project in Wyoming. Uranerz Energy Corp. [URZ-TSX, NYSE MKT; U9E-FSE] has a suite of uranium properties in the Powder River Basin, Wyoming. The company is currently building the Nichols Ranch ISR uranium project, which has an initial target production rate of 600,000-800,000 lbs uranium yellowcake per year. Completion is targeted for 2013. On June 7, the company announced a short-term note financing for an aggregate $6 million that will be used to fund ongoing construction at Nicholas Ranch. US Geothermal Inc. [GTH-TSX; HTM-NYSE MKT] announced that final completion of the 22 megawatt (net) Neal Hot Springs Project in Malheur County, Oregon has been achieved. The project is selling electricity to Idaho's largest utility, Idaho Power Company, under a previously signed 25-year power purchase agreement for up to 25 megawatts of power per year. US Geothermal is operating geothermal power projects at Raft River, Idaho, San Emidio, Nevada, and now, Neal Hot Springs. US Silver & Gold Inc. [USA-TSX; USGIF-OTCQX] operates the Galena Complex in Shoshone County, Idaho, which recorded 577,095 oz silver produced for Q1 2013, up 4.7% on Q1 2012. Galena also produced 1.77 million lbs lead and 262,000 lbs copper for Q1 2013. The company's Drumlummon Mine near Helena, Montana, produced 2,161 oz gold and 21,044 oz silver for Q1 2013. However, the company decided in April to discontinue production at Drumlummon due to mine performance and the slide in gold prices. Western Pacific Resources Corp. [WRP-TSXV] agreed to acquire 100% of the Deer Trail polymetallic mine in Piute County, Utah, from Unico Inc. in February. Western Pacific will pay a total of $7 million in various transactions over 2.5 years. Deer Trail is permitted and hosts gold, silver, lead, zinc and copper mineralization. Western Pacific also owns Mineral Gulch, a past-producing gold mine in southern Idaho. Wolfpack Gold Corp. [WFP-TSXV] announced on May 21 that Tigris Uranium Corp. [TU-TSXV] had completed its reverse takeover of the company by acquiring all issued and outstanding shares of Wolfpack. The company has a suite of properties across the Western USA, including uranium projects located in New Mexico's Crownpoint Uranium District that have total indicated resources of 26.6 million lbs U3O8 and inferred resources of 6.1 million lbs U3O8. n mated at 20,500-23,500 ounces of gold per year. QMX recently received regulatory approval from the Québec government to proceed with custom milling ore from the McGarry Mine 40 km east of Kirkland Lake, Ontario, owned by Armistice Resources Corp. [AZ-TSX]. The initial shipment will consist of 10,000 tonnes of ore, including some development ore, currently held in stockpile. Subsequent deliveries will be made of approximately 5,000 tonnes per month, totaling 30,000 tonnes. Richmont Mines Inc. [RIC-TSX; NYSE MKT] has completed a bulk sampling program for its W Zone gold project in Val d'Or. As a result, the company has made a decision to proceed to the commercial production phase of the project. Richmont also owns and operates the Beaufor gold mine 27 km northeast of Val d'Or and the Francoeur gold mine 25 km west of Rouyn-Noranda. Royal Nickel Corp. [RNX-TSX] released positive results of a bankable feasibility study for its Dumont nickel project 25 km west of Amos, northwest Québec, demonstrating a technically and economically sound project with an after-tax US $1.1-billion NPV at 8%. Project economics are a 15% after-tax internal rate of return. Standard Graphite Corp. [SGH-TSXV] controls 100% interests in 12 prospective graphite properties within known graphite districts in Québec and Ontario. The 2012 diamond drill program confirmed the historical, non NI 43-101 compliant resource at the Mousseau Project by duplicating some 12 drill-holes that served in the historic resource calculation. The program also expanded known mineralization laterally in both directions, confirming a more widespread graphitic horizon than originally known. Stornoway Diamond Corp. [SWY-TSX] has a 100% interest in the Renard diamond project, on track to become Québec's first diamond mine. Located 350 km north of Chibougamau in the James Bay region of north-central Québec, an access road to the mine site is currently under construction. Probable NI 43-101 reserves stand at 17.9 million carats, with a further 17.5 million carats classified as inferred resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at an estimated $752 million, with a life-of-mine operating cost of $57.63/tonne giving a 67% operating margin over an initial 11-year mine life. Virginia Mines Inc. [VGQ-TSX] reports that several Québec exploration programs are currently in progress or will begin shortly on different projects. Including $5.5-million already spent in winter and spring of 2013, Virginia will have spent, either alone or with partners, over $15 million on exploration on its projects this year. Work will be carried out mostly on the James Bay territory, in the Opinaca-Eastmain, Caniapiscau, La Grande and Coulon regions; on the Baie Payne and Kuujjuaq projects in the Nunavik territory; and in the Grenville geological province. n 48 www.resourceworld.com SEPTEMBER 2013