NEW YORK, January 22, 2018 /PRNewswire/ --
According to a research report released by Grand View Research, global nuclear energy demand is to grow. Raw uranium is mined, milled, refined and converted, fueling nuclear reactors to generate electricity. Rapid population growth, along with improved lifestyle has resulted in a strong energy demand from households, in both advanced nations and emerging markets. The research report indicates that rising clean power demands, as well as depleting fossil fuel reserves are expected to raise energy concerns. These concerns are encouraging energy companies and governments to invest in alternative energy sources, including nuclear energy. The World Nuclear Association points out that the USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity. Clean Commodities Corp (TSX-V: CLE), Uranium Energy Corp. (NYSE: UEC), Ur-Energy Inc. (NYSE: URG), Fission Uranium Corp. (OTC: FCUUF), NexGen Energy Ltd. (NYSE: NXE)
According to a report by Mining Weekly, GlobalData mining research director Alok Shukla estimates that global uranium mine production increased by 4.8% in 2017 to 67 686.1 ton, along with new uranium projects coming on stream in Russia, Namibia and the US. South Africa's uranium production is also projected to increase by 4.2% in 2017 to 377.7 ton and growing extensively at a compound annual growth rate of 45.1% to reach 1 672.1 t by 2020. The report indicates that the global uranium mine production is increasing to meet rising demand that is likely to follow as reactors come on stream.
Clean Commodities Corp (TSX-V: CLE) is currently listed on the TSX Venture Exchange under the ticker 'CLE'. Earlier today the company announced that, "the Corporation's option partner AREVA Resources Canada Inc. ("AREVA Resources") will be commencing a planned 4,500 metre diamond drill program at the Preston Uranium Project. The project is located in the western Athabasca Basin near NexGen Energy Ltd.'s high-grade Arrow deposit hosted on its Rook-1 property and Fission Uranium Corp.'s Triple R deposit located within their PLS Project area. Preston Uranium Project Map: https://www.cleancommodities.com/preston-uranium-project. Clean Commodities and Skyharbour Resources Ltd. ("Skyharbour") entered into an Option Agreement (the "Agreement") with AREVA Resources whereby AREVA Resources has an option to acquire up to a 70% working interest in the Preston Uranium Project (see news release, 'Clean Commodities Corp. Executes Option Agreement with AREVA Resources Canada to Option up to 70% of a Portion of the Preston Uranium Project for $8 Million in Project Consideration' dated March 9, 2017). Under the Agreement, AREVA Resources will contribute cash and exploration program considerations totaling up to CAD $8,000,000 in exchange for up to 70% of the project area (see same news release dated March 9, 2017).
Highlights of AREVA Resources' Exploration Programs at Preston Uranium Project: - AREVA Resources planning to carry out CDN $2,000,000 in exploration and diamond drilling programs over the next year. - Recently completed geophysical programs included Moving Loop Transient Electromagnetic (ML-TEM) surveys on two grids located on the western part of the project, east of Highway 955. - A diamond drilling program consisting of 15 to 20 drill holes for a total of approximately 4,500 metres to commence shortly. - AREVA Resources may earn up to a 70% interest in the 49,635-hectare Preston project through $8,000,000 of total project consideration over six (6) years, including up to $7,300,000 of exploration work programs and $700,000 of cash payments. - If carried to completion, a tripartite joint venture would be formed being 70% as to AREVA Resources and 30% as equally divided between Clean Commodities and Skyharbour. -
Preston Uranium Project Winter 2018 Diamond Drilling Program: AREVA Resources will be commencing a diamond drilling program shortly consisting of 15 to 20 drill holes at the Preston Uranium Project for a total of approximately 4,500 metres which is scheduled to take approximately two and half months to complete. Drilling will focus on areas of interest defined by ground EM surveys within the western part of the project, east of Highway 955 and the 'FS area' of the project. The estimated cost of the 2018 exploration program is CDN$2,000,000. The Corporation will provide updates on the progress of this drill program as they become available.
Recent Preston Uranium Project Geophysical Programs: In the spring of 2017, a Quaternary evaluation of the Preston Uranium Project was performed by AREVA Resources followed by a two week summer field program which included the review of historical drill holes, outcrop visits, sampling and general prospecting and surveying. AREVA then completed ground EM surveys within the Dixon Lake target area and a more exhaustive review of the project historical information. In the fall of 2017, Moving Loop Transient Electromagnetic (ML-TEM) surveys were completed on two grids located east of Highway 955. The Johnson Lake Corridor (JLC) hosts two main north-northeast and northeast trending VTEM conductive trends. Numerous areas of interest have been identified along the VTEM conductive zones and of particular interest at this time is the area northeast of Canoe Lake which hosts radon-in-water anomalies…
Overview of Preston Lake Uranium Project: The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to-date. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochemistry, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multi-phased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area."
Uranium Energy Corp. (NYSE: UEC) is a U.S.-based uranium mining and exploration company. On November 27th, the company announced that the Company has completed an updated National Instrument 43-101 Standards of Disclosure for Mineral Properties ("NI 43-101") resource estimate for its Burke Hollow project (the "Project") in South Texas following completion of a recent 132-hole drill campaign. The updated report estimates an Inferred mineral resource of 7.09 million pounds of uranium ("U3O8") at a weighted average grade of 0.088% U3O8 contained within 4.06 million tons.* Andrew Kurrus, VP of Resource Development, stated, "Burke Hollow is a grass roots discovery by the UEC team, and we are very excited about the drilling results to date. We are confident that we will continue to expand the resource by exploring and delineating the multiple mineralized roll fronts on the property. We anticipate that Burke Hollow will, over time, become a significant ISR resource directly in the U.S. This latest drilling program utilized strategic borehole placement as opposed to traditional grid-like hole placements, resulting in more mineralized intercepts, better roll front definition efficiency, and better use of allocated budgets."
Ur-Energy Inc. (NYSE: URG) is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. On January 11th, Ur-Energy Inc. provided operational results for fourth quarter 2017. At year-end 2017, the company captured approximately 2.4 million pounds U3O8 and have delivered approximately 2.2 million pounds of Lost Creek production to its customers. At this time, the company's first mine unit ("MU1") has recovered nearly 89% of the estimated under-pattern resource, based upon the revised and updated Lost Creek Preliminary Economic Assessment (as amended, February 2016, the "PEA"). This is compared to an accepted industry standard of 70% to 80% recovery of under-pattern resource. As well, project economics in the PEA were based on an 80% recovery.
Fission Uranium Corp. (OTCQX: FCUUF) is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna, British Columbia. On January 16th, 2018 the company announced that, "preparations have begun for a $9.4M winter work program at its award-winning PLS project in Canada's Athabasca Basin. The 31 hole program will focus on two core goals: growth of the recently-discovered, high-grade R1515W zone and accelerating progress towards the pre-feasibility study "PFS", which is a key milestone for potential eventual production at PLS."
NexGen Energy Ltd. (NYSE: NXE) is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. Earlier in April, the company reported commencement of an independent maiden Preliminary Economic Assessment ("PEA") on the Arrow Deposit, and results from the on-going winter 2017 drilling program at its 100% owned, Rook I property, Athabasca Basin, Saskatchewan. Leigh Curyer, Chief Executive Officer, commented: "The drill results today paired with those previously released from our ongoing winter 2017 program demonstrate how much material room there is for Arrow to expand and optimize in terms of grade and tonnage. Commencement of an initial PEA is an important step in providing guidance as to the economic power of Arrow relative to other sources of current and future mined uranium worldwide. Noting, this initial PEA will be subsequently updated as the Arrow resource is further defined."
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