This mining prospect consists of 5755 acres in two lease tracts, designated as C-G-26 and C-G-27, leased from the US Department of Energy (formerly the Atomic Energy Commission). Both tracts combined contain historical drill indicated resources (not 43-101 compliant) of 733,000 lbs. of uranium and 3,136,000 lbs. of vanadium. These historical resource estimates are based on information provided by Department of Energy (‘DOE’) in February of 2008 and historical regional mining and drilling by Union Carbide Corporation and others. DOE data from estimates originally prepared by the Atomic Energy Commission ("AEC"), based on US Geological Survey and AEC drilling conducted during 1951 — 1953. AEC/DOE do not apply resource categories or qualifiers.
Location
12 miles southeast of Gateway, Mesa County, Colorado
NI 43-101 Resource Tons
Not determined
NI 43-101 Resource U3O8 lbs.
733,000 lbs. (see source above)
NI 43-101 Resource V2O5 lbs.
3,136,000 lbs. (see source above)
Permit Status
Permit application pending resource definition
Planned Production Rate
not determined
Estimated Annual Production
not determined
Projected Life of Mine
not determined
Production Status
Historical production from the New Verde and other small mines on Calamity and Outlaw Mesas.