Highlights:
- District ranked number 2 in Utah for established unmined remaining resources, has historically been the 10th most prolific uranium producer in the state of Utah having produced 4.5 million pounds of U3O8 through 2021 with an average grade of 0.27% U3O8 and 3.6 million pounds of V2O5 at an average grade of 0.2% V2O5. 1
- More recently discovered District has limited production as most discoveries came in the late 1970s and allowed only modest production prior to uranium market decline. These later discoveries are enriched in V in comparison to older reports.
- Advanced projects include the Green River Project with extensive underground workings and drill hole results; Urano will be working on a NI 43-101 report.
- Project has a current active mining permit.
- Early exploration projects include the Melinda property which has significant radiometric anomalies historic close-spaced drilling and a recently issued drill permit.
The project is 49 claims (1,009 acres) and is located just off Interstate 70. The property is accessible to established infrastructure, offering significant logistical and operational advantages for resource development.
A historically productive site, the Green River Property is located in the San Rafael District, a region renowned for its uranium-rich geology. The property is fully permitted for small-scale underground mining and surface disturbance, enabling Urano Energy to initiate targeted operations with efficiency and minimal regulatory delay.
A significant quantity of detailed data has been acquired along with the property and permits. Specifically the Company has access to a full set of 1 inch to 50 foot plane table maps of the underground workings compiled by the previous operator, Atlas Minerals. These maps show elevation, thickness and grade of all drill hole intercepts and are complete through the date production stopped. A proprietary intra-company report dated 1984 provides historical estimates of remaining resources at the time of mine closure. The Company will be systematically verifying and integrating this data to provide reliable estimates for the Green River Property.
With its combination of historical production, surface mineralization, active permits, and strategic location, the Green River Property presents a compelling opportunity to establish a mineral resource with the potential for further project development. This aligns seamlessly with Urano Energy’s commitment to advancing high-quality domestic uranium resources to meet the growing demand for clean, sustainable energy solutions.
Melinda Uranium Project in Utah. Located in the San Rafeal Uranium District, the Melinda Project includes 240 claims covering 8 (eight) square miles. The project saw extensive exploration between 1978 and early 1980, when uranium mineralization was broadly outlined by 375 drill holes by URADCO, a uranium exploration subsidiary of the nuclear utility Pennsylvania Power and Light (PPL). Of the 375 drill holes, approximately 100 intercepted significant uranium mineralization. Urano Energy plans to permit a drill program for 2024 to follow up on the targets identified by PPL as well as expand exploration into the westerly extension of the mineralized trend as identified by airborne radiometric studies not available to PPL in 1980. Urano continues to evaluate conventional uranium projects with the Southwest United States capitalizing on its access to proprietary data.
The Melinda Uranium Project, with historic workings, was one of the later areas explored in the late 1970’s prior to the slowdown in uranium exploration and production in the United States due to global market changes in sourcing uranium production. Of the 375 wide-spaced drill holes, completed by URADCO, over 25% had significantly anomalous uranium intercepts greater than 0.01% U3O8 with 6 (six) intercepts in excess of 0.1% U3O8. These historical exploration results are highly encouraging for detailed follow up drilling which the Company will begin in 2024.
The project hosts uranium mineralization in the Salt Wash Member of the Morrison Formation with the Salt Wash Sandstone ranging from a thickness of 50 to 100 feet in the project area. Several different fluvial channel systems have been identified by the widespread historic drilling which, coupled with airborne radiometric survey data, that was not available when URADCO conducted drilling, will guide the Company’s detailed exploration program. The radiometric data is indicative of a series of anastomosing near surface sinuous, mineralized channels responsible for strong anomalies traversing the property.
Close-spaced drilling in areas of PPL’s wide-spread anomalous drilling will be required to delineate areas of higher grade mineralization. The Company’s exploration of the western half of the Melinda Project will be the first program on the ground as URADCO did not have access to airborne geophysical data for the entire property. This data, now in the possession of Urano Energy, clearly shows a series of meandering stream or river channels traversing the entire property which have typically focused higher grade mineralization in the paleo-channels.
Historical exploration information on this page was obtained from reports filed by property owner URADCO to uranium producer UMETCO on June 3, 1980, and does not comply with mineral resource categories set out in National Instrument 43-101.
A Qualified Person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources and the company is not treating the historical estimate as current miner resources. The company considers the historic information relevant and reliable, however additional work, including drilling, will be required to confirm the presence of a uranium deposit, and if present, to establish the amount and grade of any mineralization that is found.
Qualified Person
Technical information on this webpage has been approved by Douglas Underhill, PhD. Geology, MBA, CPG, a Director of Urano Energy Corp. and “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
References
1 Mills, S.E. and Jordan, B., 2021, Uranium and vanadium resources of Utah—an update in the era of critical minerals and carbon neutrality: Utah Geological Survey Open-File Report 735, 26 p., 1 appendix,