The report considers the presence of uranium-bearing inferred non-reserve mineralized material as outlined by comprehensive historical exploration and development drilling on one of the properties.
It identified certain areas of the project with potential for additional mineralized material based on other historical exploration drilling results.
The technical report highlighted the attributes and geological characteristics of the uranium-bearing material in the Westwater Canyon Member of the Morrison Formation in the project area.
Covering 3,688 acres of mineral rights, the project area is separate from the lands exchanged with with Rio Grande Resources for mid-term potential in-situ recovery projects in South Texas, the company said.
Drilling data from Kerr-McGee, Homestake Mining and Conoco has identified mineralization with numerous geologic characteristics similar to other uranium deposits in the Ambrosia Lake and Mt. Taylor/San Mateo mining areas.
