The Sunday Mine Complex is located in western San Miguel County, Colorado, USA. The complex consists of the following five individual mines: the Sunday mine, the Carnation mine, the Saint Jude mine, the West Sunday mine and the Topaz mine. The complex was most recently actively mined from 2007 to 2009. The Sunday Mine Complex property consists of 221 unpatented claims on public lands covering approximately 3,800 acres. 20 of these claims are subject to a 12.5% royalty on all ore produced. Each of the mines included in the Sunday Mine Complex has its own separate mining permit and they are all currently in Temporary Cessation. The existing permits will need to be updated to include Ablation onsite and a mine water treatment plant will need to be installed (and the appropriate permits obtained) for treating mine water.
The San Rafael Uranium Project is located in Emery County, Utah, and forms a single contiguous claim block covered by 146 unpatented federal lode mining claims. The core uranium deposit of the San Rafael Uranium Project is the Deep Gold deposit. The Historic Indicated Mineral Resource (CIM Definition) for the entire San Rafael Uranium Project comprises 479,050 tons @ 0.25% U3O8 containing 2,415,300 lbs U3O8 and an Historic Inferred Mineral Resource (CIM Definition) of 92,350 tonnes @ 0.32% U3O8 containing 587,800 lbs U3O8. Historic vanadium resource exists at the project.
The Sage Mine project is located in San Juan County, Utah, and San Miguel County, Colorado USA. It consists of 94 unpatented claims covering approximately 1,942 acres. The historic Sage Mine ceased operating in 1982. The 94 unpatented claims are subject to an overriding royalty of 2.5% payable to a previous owner of the claims. Although the mine is partially permitted and bonded, further permits must be obtained prior to the commencement of production.
The Hansen/Taylor Ranch Uranium Project encompasses more than 13,500 acres. The Project is located approximately 150 kilometres southwest of Denver in the Tallahassee Creek District of Colorado.
Tallahassee Creek is an established mining region and hosts AngloGold-Ashanti Cripple Creek gold mine. From 1954 to 1972, 16 small scale open pit and underground uranium mines operated in the region. The Project includes the Hansen, Taylor, Boyer, Noah, High Park and Picnic Tree Deposits. The vast majority of these mineral rights have been secured under lease and option agreements with surface landowners, together with several State and Federal leases.
The Project contains JORC Code-compliant Indicated and Inferred resources of approximately 90.9 million pounds U3O8 at a very robust grade of 600 ppm U3O8, making it one of the largest uranium projects within the United States. The vast majority of these mineral rights have been secured under four lease and option agreements with surface landowners, together with several State and Federal leases.
The Hansen/Taylor Ranch deposits are found within the sedimentary Echo Park formation of Eocene age. The Echo Park alluvium lies un-conformably upon pre-Cambrian rocks (quartz monzonites, granodiorites, gneisses and schists) that were eroded unevenly throughout time and provided the surface upon which the sediments were deposited. Renewed uplift and associated faulting formed grabens and paleovalleys where the sediments were deposited and the uranium mineralization concentrated.
The Echo Park alluvium contains poorly sorted colluvium as sheet-wash facies in addition to fluvial facies that contain carbonaceous material that acted as reducing agents for the concentration of the mineralization.
It is thought that the overlying Wall Mountain tuff was the source for the uranium minerals that were dissolved into the groundwater and transported through the Echo Park formation. The carbonaceous material then acted as a reducing agent allowing the uranium mineralization to be concentrated and deposited in the sedimentary sandstone layer.
The depth to the mineralized zones has been found to be from 150m down to approximately 190m.
The Dunn Mine Complex is located in San Juan County, Utah, USA. It is comprised of 11 unpatented claims. The Dunn Mine was closed in the mid-1980s, with only limited development completed and very little production realized. The 11 unpatented claims are located on public lands covering approximately 220 acres. The Issuer holds no permit for the Dunn Mine Complex.
The Piñon Ridge Mill is the most recent uranium and vanadium mill facility to be licensed in the United States. It is located on private land in western Montrose County, Colorado, central to the uranium and vanadium deposits in the Uravan Mineral Belt. The Mill property and license are not owned by Western Uranium & Vanadium Corporation.
The Van 4 Mine is located in western Montrose County, Colorado, USA. The Van 4 Mine is a small underground mine that was last operated between 1987 and 1990. The property consists of 80 unpatented claims located on public lands covering in excess of 1,200 acres. There are no royalties encumbering these claims. A mine permit for the Van 4 Mine has been granted and is currently in good standing, and the necessary bonds have been obtained.
The Bullen Oil & Gas Property is located in Weld County, Colorado USA within the Denver Julesburg Basin (D-J Basin). This property was originally acquired as part of the Keota Uranium Project and in 2017 an oil and gas lease was signed granting a royalty interest on all oil and gas substances produced and sold. The 160 acre parcel was consolidated by the operator into a 3,200 acre pooled unit. The pooled unit is approved for a maximum of 24 horizontal wells and permitting has been approved for 16 wells. The drilling of 8 wells commenced in 2020 with the operator targeting well completion and production initiation in Q3 2021.