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The Anderson Project covers 9,852 acres (15.4 square miles) and is comprised of 459 contiguous, unpatented lode mining and placer claims and two Arizona State land sections. It is located in western Yavapai County approximately 75 miles northwest of Phoenix and approximately 180 miles from UEC's Workman Creek Project. The northern section of the Anderson Project area holds the open-pittable resource and the adjacent southern section holds the underground resource.
SUMMARY OF MINERAL RESOURCES
|
Cut-off Grade
U3O8% |
k tonnes
|
U3O8(%)
|
Contained
U3O8(Mlbs) |
|
Open Pit Resources
|
|||
|
Indicated
|
|||
|
0.01
|
25,422
|
0.028
|
15.5
|
|
Inferred
|
|||
|
0.01
|
4,633
|
0.024
|
2.5
|
|
Underground Resources
|
|||
|
Indicated
|
|||
|
0.035
|
1,426
|
0.049
|
1.5
|
|
Inferred
|
|||
|
0.035
|
8,362
|
0.052
|
9.5
|
The uranium mineral resource estimate was based on a total of 202,707 meters of drilling from 1,464 holes, including drilling completed by Minerals Exploration Company (“MinEx”) (1,054 holes), Urangesellschaft U.S.A. Inc. (“UG”) (385 holes) and 25 holes drilled by Concentric Energy Corp. (“Concentric”) as of April 15, 2012, the effective date for this estimate. The mineral resource estimate has been generated from drill hole sample assay results and the interpretation of a geologic model which relates to the spatial distribution of uranium in the deposit. Grade estimates are made using acceptable geostatistical methods with a nominal block size measuring 10 meters long, 10 meters wide and 2 meters in height. Resources have been classified by their proximity to sample locations and are reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s definition standards on mineral resources and mineral reserves.
The Anderson Property has a long history. In the 1950’s the Property hosted a small-scale open pit mining operation which resulted in a total of 10,758 tons of ore averaging 0.15% or 33,230 pounds of U3O8 being shipped to Tuba City, Arizona, for custom milling. Production ceased in 1959 when the Atomic Energy Commission terminated its ore purchasing program.
Since then, over 1,400 exploration drill holes have been completed on the Anderson Property, including 1,320 downhole gamma surveys and 5,596 chemical assays. Almost all of these were completed in the 1970s by MinEx on the Property’s northern section and by UG on the southern section.
In the late 1970’s the Property was brought to the feasibility stage twice, however, by the end of 1979, global and market events led both MinEx and UG to abandon their mineral claims in the Anderson Property.
In 2006, Concentric conducted the first drill program on the Anderson Property since the abandonment by MinEx and UG. A 25-hole drill program was completed to confirm the historical MinEx exploration database by “twinning” a significant number of former MinEx drill holes. A total of 24 rotary holes and one core hole, totaling 8,087 feet, were completed. No confirmation holes were drilled on the former UG portion of the Anderson Property. In 2008, Concentric commissioned Mountain States Research & Development International, Inc. to complete a process engineering assessment, the results of which are presented in a report entitled “Final Report Preliminary Process Engineering and Cost Estimates, Anderson Uranium Project, Yavapai County, Arizona.”
Mar 12, 2012
Uranium Energy Corp Reports Fiscal 2012 Q2 Production Results and Provides Operations Update
Jan 4, 2012
Uranium Energy Corp Issues Year-End Shareholder Report
Dec 13, 2011
Uranium Energy Corp Reports Fiscal 2012 Q1 Production Results and Provides Operations Update
Oct 13, 2011
Uranium Energy Corp Reports Fiscal 2011 Production Results and Provides Operations Update
Sep 12, 2011
Uranium Energy Corp Completes Merger to Acquire the Anderson Property in Arizona
May 6, 2011
Uranium Energy Corp Announces Merger to Acquire the Anderson Property in Arizona
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