Rim Mine

Snapshot

Location: Utah, United States (Uravan Mineral Belt, Colorado Plateau)
Ownership: 100% Consolidated Uranium Inc. (upon closing)
Deposit Type: Tabular sandstone-hosted
Primary Minerals: Uranium, Vanadium
Stage: Past-producing
Proximity to White Mesa Mill: 62 mi (100 km)

Mineral Resources: 

Category

Tons (000s)

%U3O8

lbs U3O8 (000s)

%V2Os

lbs V2Os(000s)

Inferred

82

0.20

327

1.83

3,028

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 Rim Mine is located in the Uravan Mineral Belt 15 miles northeast of Montecello, Utah and approximately 62 road miles from the White Mesa Mill. It currently has 26 unpatented lode mineral claims, a private lease, and a State Mineal Lease totalling about 1,100 acres. It consists of a high vanadium-to-uranium ration at 9.25:1.

The mine has operated historically on a periodic basis starting in the mid-1960s. Mining recommenced in 2008 by Denison Mines, but as a result of declining uranium prices, was placed on standby in late 2010. Energy Fuels acquired the property in 2012 and has maintained it on care and maintenance since that time, such that it can be restarted with relatively little permitting or development costs. The mine can be turned on relatively quickly as surface infrastructure, portals, declines and underground workings are in place.

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