DGAP-News
Uranium Energy Corp Reports Positive Preliminary Economic Assessment on Slick Rock Project in Colorado - Seite 2
priority, however, the value of our extensive pipeline of growth projects
should not be understated. This pipeline also includes advanced stage
projects in Arizona and Paraguay that are inexpensive to maintain but can
be monetized or developed further at higher uranium prices. To this end,
we have completed the majority of similar level studies on our large
Anderson project in Arizona and expect to issue a new technical report in
90 days."
The PEA was prepared for the Company by Douglas Beahm, PE, PG, of BRS Inc.,
with contributions by Bruce Davis, FAusIMM, of BD Resource Consulting, Inc.
(BDRC) and Robert Sim, P. Geo, of Sim Geological Inc. (SIM). The PEA is
based on the current Inferred Mineral Resource estimate for uranium (BDRC
and SIM, 2012), which was first disclosed in the technical report
"Technical Report for the Slick Rock Project Uranium/Vanadium Deposit, San
Miguel County, Southwest Colorado, USA", effective December 2012, as
described in the PEA available on SEDAR and summarized in the chart below.
The purpose of the PEA is to provide an independent analysis of the
potential economic viability of the Inferred Mineral Resources of the
Project. The technical staff of the Company assembled an extensive amount
of information as part of the Company's production planning for the
Project. This data was verified and used by BRS as the basis of the PEA.
The following table details the Inferred Mineral Resource:
Summary of Inferred Mineral Resources For Slick Rock Project
Effective Date April 8, 2014
(Base case cut-off grade of 0.15 % eU3O8 is highlighted in Table 1.2)
Mineral Resource Estimate
The uranium mineral resource estimate has been generated using drill hole
sample assay results and the interpretation of a geologic model which
relates to the spatial distribution of uranium. The vanadium mineral
resource was estimated based on the estimated grades for uranium using a
6:1 V:U ratio. Interpolation characteristics have been defined based on the
geology, drill hole spacing, and geostatistical analysis of the data.
Summary of Inferred Mineral Resources For Slick Rock Project
Effective Date April 8, 2014
Cut-off Tons x eU3O8 (%) Contained U3O8 V2O5 (%) Contained V2O5
Grade 1,000 (Mlbs) (Mlbs)
eU3O8%
0.10 4,225 0.186 15.7 1.12 94.2
0.15 2,549 0.228 11.6 1.37 69.6
0.20 1,646 0.255 8.9 1.53 53.4
0.25 775 0.296 4.6 1.78 27.6
0.30 274 0.340 1.9 2.04 11.4
0.35 71 0.415 0.6 2.49 3.6
0.40 69 0.417 0.6 2.50 3.6
(Base case cut-off grade of 0.15 % eU3O8 is highlighted in Table 1.2)
Mineral Resource Estimate
The uranium mineral resource estimate has been generated using drill hole
sample assay results and the interpretation of a geologic model which
relates to the spatial distribution of uranium. The vanadium mineral
resource was estimated based on the estimated grades for uranium using a
6:1 V:U ratio. Interpolation characteristics have been defined based on the
geology, drill hole spacing, and geostatistical analysis of the data.
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