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FIGURE 3.15 Drill core from the Leatherwood Granite showing highly sheared and mineralized granite. The average U3O8 percentage in this 10-foot core section is 0.679 percent. SOURCE: Wales (2010).

TABLE 3.2 Uranium Resources of the Cole Hill Deposits

 

Measureda

Indicateda

Totala

Cutoff

 

%

Poundsd

 

%

Poundsd

 

%

Poundsd

% U3O8

Tonsb

U3O8c

U3O8

Tonsb

U3O8c

U3O8

Tonsb

U3O8c

U3O8

0.100

0.755

0.228

3.45

6.27

0.215

26.9

7.03

0.216

30.4

0.075

1.35

0.164

4.44

24.0

0.116

55.9

25.4

0.119

60.4

0.050

2.28

0.124

5.65

35.4

0.101

71.7

37.7

0.103

77.4

0.025

6.62

0.064

8.42

92.1

0.060

111.0

98.7

0.060

119.0

aTotal tonnage above cutoff grade and average weight % U3O8 of that tonnage.

bMillions of short tons based on a rock density of 2.56 g/cc.

cWeight %.

dMillions of pounds in place.
SOURCE: NI 43-101 compliant resource estimates prepared by Behre Dolbear and Marshall Miller and Associates, Inc., April 2009 (Available at http://www.santoy.ca/s/ColesHill.asp; accessed August 11, 2011).

URANIUM RESOURCES, RESERVES, AND MARKETS

The global uranium market and uranium prices reflect the fluctuating balance between the demand for uranium for nuclear power generation, and the production from mining/processing and from additional sources such as recycling spent fuel and reprocessing highly enriched uranium and plutonium from decommissioned



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