The company holds an option to acquire a 49% interest in the Hansen uranium deposit and has the exclusive right to acquire the remaining 51% interest.
Approximately 1,000 holes have been drilled previously to define the Hansen uranium deposit, which hosts approximately 30 million pounds of U3O8 1.
Mineralization at the Hansen deposit is hosted by a flat-lying sandstone sequence, with the high grade
portion of the deposit being up to 45m in thickness.
The deposit was fully permitted for mining in the early 1980s; however mining never eventuated because the global uranium price collapsed shortly after permits were awarded.
The company’s adjacent 100% owned Taylor Ranch uranium project contains JORC Code compliant indicated and inferred resources of more than 60 million pounds of U3O8.
The company continues to work towards finalizing definitive agreements with respect to the acquisition of the 51% interest in the Hansen uranium deposit.
