The corporate mentioned the 50% head grade enhance is predicted to vastly optimize earlier working parameter assumptions and the design of the processing plant whereas sustaining the identical stage of uranium manufacturing, which for the Phoenix mine is 6 million lb. uranium oxide (U3O8) per 12 months over a mine lifetime of 10 years.
The Wheeler River uranium venture in Saskatchewan’s Athabasca Basin encompass two deposits – Phoenix and Gryphon. Improvement will likely be staged, beginning with the Phoenix deposit.
The Phoenix possible reserve is 141,000 tonnes grading 19.1% U3O8, for 59.7 million lb. U3O8. The pre-feasibility research executed in 2018 anticipated the preliminary capex will likely be C$623.1 million with ISR know-how. The all-in sustaining value can be $8.90 per lb. U3O8.
The Gryphon venture will likely be a traditional underground improvement. The deposit possible reserve is 1.3 million tonnes grading 3.5% U3O8, for 49.7 million lb. U3O8. The mine would produce 7.8 million lb. U3O8 in annually of an estimated 14-year mine life. The all-in sustaining manufacturing value can be $22.82 per lb. U3O8.
(This text first appeared within the Canadian Mining Journal)