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Without accurate uranium values, the potential to make inaccurate estimates of mineralization on both the high and low side is ever present. Traditionally, accurate uranium values are determined by chemical assay of drill core which is time consuming and expensive.
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Many uranium deposits have a degree of disequilibrium, whereby the radioactivity measured in drill holes using traditional gamma methods does not accurately correspond to ore grade, due to the continued decay of uranium daughter products including potassium, thorium, lead and bismuth relative to radium (Ra 226), a significant gamma emitter. The Company owns and operates 2 logging trucks and 5 PFN tools. Any anomalous gamma readings are followed up with Prompt Fission Neutron (PFN) surveys which provide direct and accurate in-situ uranium values eliminating any concerns over disequilibrium. Each hole is logged with electrical and gamma methods upon completion. Under the engagement, Red Cloud will be paid a fee of $10,000 per month for the services it will render for a one year period.Īll drill holes are 5.625 inch diameter rotary-mud holes. Red Cloud is a Toronto-based financial services company that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile. (together "Red Cloud") to provide the Company with a range of capital markets advisory services. The Company also advises it has appointed Red Cloud Securities Inc. The Rosita Plant is designed to process uranium feed from multiple satellite operations, all located in the South Texas area and is 1 of 11 licensed uranium processing plants in the United States, 2 of which are owned by enCore Energy. With a completion deadline at the end of Q2/2022, the plant is on schedule and on budget to meet a 2023 production target. Rosita Central Uranium Processing Plant (Rosita Plant)ĮnCore's Rosita Plant, located approximately 60 miles from Corpus Christi, Texas, is a licensed, past-producing in-situ recovery (ISR) uranium plant currently under refurbishment. "Acquisition and archiving of historical exploration data has been an important part of our corporate strategy from the beginning and promises to save us millions of dollars in exploration expense as we go forward with our expansion plans," Sheriff noted. Previous ISR recovery in the Rosita Production Area was confined to the shallowest of these units, leaving the lower sandstone units essentially untested. All of these sands lie within 800 feet of surface beneath the project area. The evaluation of this newly-acquired data led to the 12 drill holes which intercepted highly anomalous down-hole gamma radiation indicative of uranium mineralization from 8 mineralized sands and an additional 4 potentially mineralized sands within the Goliad and Oakville formations. The success of this exploration program has been made possible through the recently acquired access to more than 1,500 drill logs and historical geological data from Mobil Energy Minerals Company, Moore Energy Corporation and URI, Inc. Twelve deeper exploration holes, totaling 7,380 feet, were designed to test for uranium bearing sands below the known shallow mineralized sands at Rosita South. The addition of more drill rigs will increase the pace and breadth of both our delineation of known mineralization and exploration of these deeper mineralized sands."
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"The potential of multiple stacked uranium mineralized units can be compared in concept to oil and gas where there are commonly multiple pay zones (oil and gas bearing units) in a producing well or in many gold systems where near surface gold deposits overlay one or more deeper-rooted structures or units with gold mineralization. The results indicate enhanced potential for further uranium mineralization not only from the previously known shallow deposits but more importantly the virtually untested numerous stacked mineralized sands underlying the licensed production area," said William M. "We are pleased with the initial results from the on-going drill programs which have been designed to expand known mineralization at Rosita South and explore for new deposits at depth. To view the project map and geologic section. Delineation drill results established an extension of mineralization in the Production Area which supports the start-up of the Rosita Plant expected next year.The exploration drilling has identified 8 mineralized sands plus an additional 4 potentially mineralized sands, all within 800 feet of the surface, which provide opportunities for discovery of future uranium resources across the entire Rosita project.32 drill holes reported for a total of ~11,000 feet including 20 delineation drill holes and 12 exploration drill holes.Highlights of the Rosita South uranium delineation and exploration drill programs include: