Laguna Salada

Snapshot

Location: Chabut, Argentina
Ownership: Under option from U3O8 Corp. (Consolidated Uranium Inc. to obtain 100% interest upon full exercise)
Deposit Type: sedimentary mineralized gravels
Stage: Development
Primary Minerals: Uranium, Vanadium

Mineral Resources: 

Category

Tons (000s)

%U3O8

lbs U3O8 (000s)

Indicated

47,300

0.60

6,400

Inferred

20,800

0.85

3,800

¹ This table reflects historical mineral resource estimates considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current.

Overview

The Laguna Salada Project is an exploration project located in the central part of Chubut Province, Argentina. The property is located about 270km southwest of the provincial capital, Rawson and approximately 230km from the main commercial port city of Comodoro Rivadavia. There has been over $15m spent on the project by U3O8 Corp. with an initial resource estimate published in May 2011 and a preliminary economic assessment published in September 2014. Argentina currently generates 5% of its electricity from three nuclear reactors and has domestic uranium conversion and enrichment capabilities.

Planned Work

CUR has applied for exchange approval of the option agreement.

Acquisition Terms

  • Option agreement with U3O8 Corp. Signed December 14, 2021
  • $50,000 for property expenditures on signing, $125,000 in CUR shares and $175,000 on exchange approval
  • $1.5m in cash or CUR shares to acquire 100% interest (24 months to exercise)
  • Contingent payments (in cash or CUR shares) as follows:
    • If the uranium spot price reaches USD$50, UWE will receive $505,000
    • If the uranium spot price reaches USD$75, UWE will receive $758,000
    • If the uranium spot price reaches USD$100, UWE will receive $1,010,000

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