The indicated mineral useful resource for the Horseshoe deposit is 5 million tonnes grading 0.22% uranium oxide (U3O8) for 23.6 million lb. of U3O8. The indicated mineral sources for the Raven deposit is 5.4 million grading 0.12% U3O8 for 13.8 million lb. No inferred sources have been estimated for both deposit. The sources for each the deposits have been decided utilizing a cutoff grade of 0.05% U3O8.
The Horseshoe and Raven deposits are located between 50 and 450 metres under floor with no sandstone cowl. They may very well be mined by open pit and underground minimize and fill strategies with out the necessity to freeze the adjoining floor. Metallurgical checks accomplished in 2015 advised heap leaching the ore would end in “wonderful” uranium restoration.
UEX owns 100% of the Horseshoe-Raven venture.
(This text first appeared within the Canadian Mining Journal)