Energy Fuels announced that it has acquired a 50 per cent stake in the high grade Wate uranium deposit in northern Arizona, in an area where it has a currently-producing mine, and recently announced plans to restart mining operations at one of its existing properties. The company said northern Arizona contains the highest grade uranium deposits in the U.S., and some of the highest grade deposits in the world outside of Canada's Athabasca Basin.
This is because the area is known for its breccia pipe deposits, which often contain high-grades of uranium. The company is currently-producing Pinenut mine, the Canyon mine, which is in development, and the recently-producing Arizona 1 mine are all breccia pipe deposits in northern Arizona. The Wate deposit is also a breccia pipe.
Energy Fuels is currently producing uranium ore from its Pinenut mine, and said earlier this month that it is preparing to resume development at its Canyon mine. It expects future production from Wate will be processed at the company's White Mesa uranium mill in Utah, which is currently the only operating uranium mill in the United States.
The 50 per cent stake in Wate has been acquired from Vane Minerals, with the other 50 per cent to be maintained by Uranium One Americas. Energy Fuels will assume the Vane role as manager of the joint venture entity, it said. The Wate project, which is located on Arizona state land, is also at an advanced permitting stage, with a state mineral lease expected soon. The issuance of a state mineral lease in Arizona is similar to that of a mining permit in other jurisdictions.
Resource Portal for I2M Clients, Associates, and Geoscientists
Managed & Built by I2M Consulting, LLC | © 2010-
Managed & Built by I2M Consulting, LLC | © 2010-