Montrose/San Miguel County, CO
- The Company has signed an option to purchase agreement on 12 DOE mineral leases in the heart of the Uravan Belt in western Colorado and eastern Utah.
- All leases are past producers of both uranium and vanadium.
- The DOE uranium leases were created to be a source of domestic uranium supply in cases of a disruption or shortfall of supply. As such, the leases are maintained on a “near-term” permit basis.
- Two of the leases are considered permitted for mining; although additional steps will be necessary with the States of Colorado and Utah, as well as the DOE, before production can be initiated.
- Typically, these deposits contain 0.2% U3O8 and 1.5% V.
- All leases have substantial historical information and resource data available to the Company.