Located in the Grants Mineral Belt in northwestern New Mexico, the deposit was found to host 6.5 million pounds of mineralized uranium material at a grade of 0.11% U3O8.
Behre Dolbear & Company, TREC and Western States Mining Consultants compiled the feasibility study to determine the technical and economic viability of the deposits using in situ recovery uranium technology.
Uranium Resources interim president and CEO Terence Cryan commented that the completion of the feasibility study will push the company further towards its goal to begin uranium production in New Mexico.
"A technically and economically relevant project for the U.S. uranium industry, Churchrock remains one of our primary strategic initiatives," noted Cryan.
The report estimates a recovery rate of 67% in production of 4.4 million pounds of ore over a six-year projected life of the mine.
Churchrock Section 8 is estimated to produce over one million pounds of uranium a year at its peak production levels.
Pre-production development costs at the deposit would require an investment of $35m at operating costs of $20 to $23 per lb of U3O8.
