Beahm reported in 2016 for Energy Fuels, Inc. that the Alta Mesa Uranium Project (the “Project”) produced approximately 4.6 million pounds of uranium oxide between 2005 and 2013 via In Situ Recovery (“ISR”) mining. The facility was in production from 2005 until primary production ceased February 2013.
The Project operated in a groundwater clean-up mode until February 2015; therefore, any uranium mined since 2013 remains as in-circuit inventory. The first wellfield (PAA-1) has undergone restoration and is currently being monitored for restoration stability. All other wellfields are being maintained by a small bleed (less than 100 gpm) for permit compliance. The bleed solutions are disposed of in the deep disposal wells.
The author estimated the mineral resources within the Alta Mesa area and within the Mesteña Grande area which is unmined. No current preliminary economic assessment, pre-feasibility study or feasibility study has been completed. Thus, no mineral reserves are stated, and the additional requirements of Form 43-101F1 for advanced technical reports, Sections 15 through 22, do not apply to this report.
This report also defines exploration target(s) within the project areas and discloses the potential quantity and grade of mineralization, expressed as ranges, for further exploration. The tonnages, grades, and contained pounds of uranium, as stated in this report, for exploration targets should not be construed to
reflect a calculated mineral resource (inferred, indicated, or measured).
The potential quantities and grades for exploration targets, as stated in this report, are conceptual in nature, and there has been insufficient work to date to define a NI 43-101 compliant resource. Furthermore, it is uncertain if additional exploration will result in any of the exploration targets being delineated as a mineral resource.
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