The company will begin a preliminary exploration program to further the uranium trend identified through the work completed by Western Nuclear, Pioneer Resources, Federal Resources and Union Pacific Mining/Rocky Mountain Energy.
Joshua Bleak, president and CEO of American Energy Fields, said: “Receiving this exploration permit is a major milestone for AEFI and our development plans for the Coso project.
“With the bulk of Coso’s historic exploration performed on Federal land, we look to expand the resource potential by now beginning a work program on the 800 acres of state leased land. This is another step in the direction of finding, acquiring and developing natural energy resources in the US.”
The Coso project, including 169 federal claims and 800 state acres, was previously developed by Western Nuclear, Pioneer Resources, Federal Resources and Union Pacific Mining/Rocky Mountain Energy.
A total of $20m was spent developing the project, including the development of an engineered pit design. These exploration efforts established 5.5 million lbs of uranium with an average grade of 0.07% U3O8. The Coso project lies in the heart of the Californian mining district of Inyo County.
