Tony M Mine

Snapshot

Location: Utah, United States (Henry Mountain Basin, Colorado Plateau)
Ownership: 100% Consolidated Uranium Inc. (upon closing)
Deposit Type: Tabular sandstone-hosted
Primary Minerals: Uranium
Stage: Past-producing
Proximity to White Mesa Mill: 127 mi (204 km)

Mineral Resources: 

Category

Tons (000s)

%U3O8

lbs U3O8 (000s)

Indicated

1,690

0.24

8,130

Inferred

860

0.16

2,750

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 Tony M Mine is large-scale, fully-developed and permitted underground mine located in the Henry Mountain Basin 5 miles north of Ticaboo, Utah and 127 miles west of the White Mesa Mill. Tony M is a fully developed and permitted underground mine with excellent surface facilities and 17 miles of existing underground development. There is little refurbishment expected to bring it into production.

The mine was originally developed by Plateau Resources Ltd. in the late 1970s. Most recently, it was operated by Denison Mines Corp. from September 2007 to November 2008. It was acquired by Energy Fuels in 2012 and has been maintained in a ready state with all required permits in place to resume operations.

Historic Production

Company Tons (000s) %U3O8 lbs U3O8 (000s)
Plateau (79-84) 237 0.12 569
Denison (07-08) 162 .013 422
Totals 399 0.12 991

Geology

Tabular sandstone-hosted uranium deposits present in the lowermost sandstones of the Salt Wash Member of the Jurassic age Morrison Formation. Mineralization primarily consists of coffinite, with minor uraninite, which usually occurs in close association with vanadium mineralization.

Exploration Potential

The property hosts the Tony M and Southwest uranium deposit and strong exploration potential exists in direct proximity to the Tony M mine.

Planned Work

CUR intends to undertake a program to confirm and update the historical resource estimate and complete a preliminary economic assessment to quantify the cost, development activity and time required to bring the mine back in to production.

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