VA Uranium has 100% equity interest in the Coles Hill uranium deposit in southern Virginia. Coles Hill has a measured and indicated resource of 119 million pounds of U3O8 (98.7 Mt at 0.060% U3O8 at a cut-off grade of 0.025% U3O8), including a higher grade zone of 77.4 million pounds of U3O8 (37.7 Mt at 0.103% U3O8 at a cut-off grade of 0.050% U3O8) based on an April 29, 2009, National Instrument 43-101 Technical Report prepared for Virginia Energy by Behre Dolbear and Company, Marshall Miller and Associates, and PAC Geological Consultants.
The commonwealth of Virginia is currently evaluating the scientific, technical, environmental, human health and safety, and regulatory aspects of uranium mining, milling, and processing.
The Virginia Coal & Energy Commission through the Virginia Center for Coal and Energy Research at Virginia Tech will engage the National Research Council, an arm of the National Academy of Science, to undertake this evaluation. This independent scientific study is expected to take approximately 18 months.
