The company said that that a third-party laboratory analysis of the approximately 70ft of cores recovered from the property showed low organic carbons, which, in URI’s opinion, suggests that some of the 860,000 pounds of in-place mineralized material at this property may be amenable to in situ recovery (ISR) mining.
However, this property is not yet licensed or permitted, according to the company.
Currently, the company is making an in depth feasibility study of its New Mexico projects with a priority on its Churchrock/Crownpoint ISR project.
The company expects the feasibility to completed by the end of 2011.
The core objective of the company is to be in a position to begin construction of wellfield and processing facilities in 2012 and to be in production in 2013, assuming the license renewal processes move forward in time.
