Wednesday 13th December 2017

Resource Clips


May, 2014

Athabasca Basin and beyond

May 31st, 2014

Uranium news from Saskatchewan and elsewhere for May 24 to 30, 2014

by Greg Klein

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Fission Uranium drills 38 metres of 4.44% U3O8 at Patterson Lake South

Still no word on a resource estimate, but Fission Uranium TSXV:FCU released assays for 10 more infill holes from Patterson Lake South on May 29. The latest batch brings the total reported holes from last winter to 40, with 52 more to come. Nine of the most recent came from R780E, the middle and the largest of five zones along a 2.24-kilometre potential strike that’s open to the east and west. Some of the best results show:

Hole PLS14-153

  • 0.34% uranium oxide (U3O8) over 21.5 metres, starting at 166.5 metres in downhole depth
  • (including 1.47% over 2 metres)
Uranium news from Saskatchewan and elsewhere for May 24 to 30, 2014

  • 0.78% over 5.5 metres, starting at 203 metres
  • (including 3.76% over 1 metre)

  • 0.64% over 10.5 metres, starting at 215 metres
  • (including 4.16% over 1 metre)

Hole PLS14-156

  • 4.68% over 19 metres, starting at 103.5 metres
  • (including 12.32% over 5.5 metres)

  • 3.69% over 4.5 metres, starting at 202 metres
  • (including 10.67% over 1.5 metres)

Hole PLS14-160

  • 4.44% over 38 metres, starting at 69 metres
  • (including 14.74% over 10 metres)

  • 1.05% over 9.5 metres, starting at 187 metres
  • (including 3.44% over 2.5 metres)

Hole PLS14-167

  • 1.16% over 18.5 metres, starting at 120 metres
  • (including 3.1% over 6.5 metres)

Hole PLS14-171

  • 1.05% over 18.5 metres, starting at 75 metres
  • (including 4.42% over 2.5 metres)

  • 2.96% over 48 metres, starting at 105 metres
  • (including 8.67% over 11.5 metres)

Fission Uranium also released one assay from R00E, the second zone from the west and location of the project’s first hit.

Hole PLS14-163

  • 0.14% over 5 metres, starting at 128.5 metres

True widths weren’t provided.

Back to the R780E assays, Fission Uranium stated they show “the exceptional strength of uranium mineralization in the middle region over a substantial strike length” of the zone.

Aldrin finds radioactivity at Triple M’s Anticline area

The first hole sunk on the Anticline target at Aldrin Resource’s (TSXV:ALN) Triple M property went radioactive, the company announced May 29. A downhole probe found nine intervals totalling 14.6 metres (not true widths) showing “significant” radiation above 300 counts per second for intercepts above 0.3 metres. The nine intervals occurred at downhole depths between 176.6 and 246.2 metres.

Radiation measurements are no substitute for assays. The company noted that radiation could come from potassium or thorium, but radiometric readings have shown some correlation with uranium at the adjacent PLS project.

Aldrin has also drilled seven holes so far on the project’s Forrest Lake fault, reporting preliminary results for the first four in April. The 12,000-hectare Triple M property consists of two blocks west and south of PLS.

Ur-Energy reports Shirley Basin eU3O8, prepares 43-101

Radiometric results announced May 28 follow completion of a 14-hole confirmation drill program at Ur-Energy’s (TSX:URE) Shirley Basin project in Wyoming. Providing the results not as counts per second but as uranium oxide-equivalent, the company found 13 intercepts above 0.02% eU3O8 for intercepts ranging between 1.83 metres and 5.79 metres thick (not true widths). The intercepts started at downhole depths ranging from 68 to 161 metres.

Historically, the Shirley Basin district has hosted low-grade deposits suited to in-situ recovery operations. But this campaign found higher-grade results too, including:

  • 0.502% eU3O8 over 2.44 metres, starting at 95 metres in downhole depth

  • 0.321% over 3.81 metres, starting at 73.8 metres

  • 0.189% over 5.79 metres, starting at 100.95 metres

Now underway is a 43-101 technical report on the property, part of last December’s acquisition of Pathfinder Mines. In August Ur-Energy began ISR production at another Wyoming project, Lost Creek. In May the company revised the mine’s guidance in view of low uranium prices.

Fission 3.0 and Brades report Clearwater West conductors

On May 27 Fission 3.0 TSXV:FUU and Brades Resource TSXV:BRA announced more detailed results from a previously reported VTEM survey. The companies now say 24 conductive areas have been located on the Clearwater West joint venture, five coinciding with anomalous radiometric readings. In all, seven high-priority areas have been identified on the eastern side of the 11,835-hectare property that borders PLS to the north.

Follow-up work will include boulder prospecting and ground-based electromagnetic and DC resistivity surveys to determine drill targets.

The Fission Energy spinco acts as operator and currently holds 100% of the project. Brades has a three-year, 50% option that would call for $5 million in spending by October 2016 and a first-year commitment of $700,000.

New listing enhances Lakeland Resources’ American exposure

Lakeland Resources TSXV:LK made its OTCQX trading debut May 30, marking an important step “as we continue to grow and expand our shareholder base globally,” said president/CEO Jonathan Armes. “The United States is an important market to be active in and we look forward to the increased visibility and exposure that this new listing will offer.”

In April the company announced a 4,475-hectare expansion to its Lazy Edward Bay project, one of Lakeland’s 16 uranium properties in and around the Basin.

Read more about Lakeland Resources here and here.

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May 30th, 2014

Vancouver mining entrepreneur wins round in Brent Pierce defamation suit Stockhouse
How lithium can change the solar landscape Industrial Minerals
1971 Murray Rothbard: The end of economic freedom GoldSeek
Tesla CTO on energy storage: “We should all be thinking bigger” VantageWire
Phosphates: Commodity overview Geology for Investors
Survival strategies in the Atacama Desert: Chilean lithium miners manage by playing the regs Streetwise Reports
Do baby boomers impact the U.S. labour force participation rate? Equedia

Name that company

May 29th, 2014

Zimtu Capital presents a contest to raise awareness about industrial minerals

 

Just as Vancouver’s annual spring investor conference rebrands itself, market-watchers will have the chance to help rebrand a company—and win a prize for doing so.

Electra Gold TSXV:ELT has an identity problem. It’s not a gold miner. It’s not a gold explorer. It’s an industrial minerals miner that’s been in production since 2003. But its public profile matches that of many industrial minerals companies. Electra produces a commodity we all take for granted but few people have even heard of.

Zimtu Capital presents a contest to raise awareness about industrial minerals

Hence the contest. Electra wants people to look at the company, its operation and its potential, and come up with a compelling name. The winner gets a prize from Zimtu Capital TSXV:ZC. The chance to participate comes at the Canadian Investor Conference 2014 held in Vancouver June 1 and 2. Entry forms will be on hand at booth 320 or by e-mail from TLowes [at] Zimtu.com.

So what does Electra do?

The company mines chalky geyserite at its PEM100 quarry, part of the Apple Bay project on Vancouver Island. Product is shipped to a customer in Seattle. Electra intends to continue exploration, acquisition and development of small-scale industrial minerals projects in addition to chalky geyserite.

Chalky geyserwhat?

Chalky geyserite. Also known as aluminum silica, it’s an integral ingredient in cement. About 20% of cement contains chalky geyserite. Electra says Apple Bay covers readily accessible silica and alumina resources in PEM100 and to the northwest.

Why the contest?

To raise awareness not only of this company and commodity, but of industrial minerals in general. They’re all around us, we rely on them for countless everyday uses, but we tend to know little or nothing about them.

How do I enter?

E-mail Tyler Lowes at TLowes [at] Zimtu.com for more info and an entry form. Or drop by booth 320.

Booth 320?

At the Canadian Investor Conference 2014, held June 1 and 2 at the Vancouver Convention Centre West.

Didn’t that used to be the World Resource Investment Conference?

Yes. Cambridge House International has expanded the event to include oil and gas, liquefied natural gas, agriculture, life sciences, technology, real estate and marijuana.

I’ve heard a lot about the greenrush. Will the conference provide opportunities to purchase the physical commodity?

No.

But it looks like resources get short shrift.

Not at all. Mainstays like Chris Berry, Rick Rule, John Kaiser, Brent Cook, Eric Coffin and Lawrence Roulston, among others, will be out in force. Speakers and panel discussions will tackle resource-related topics while miners and explorers give corporate presentations and meet with the public.

What’s that cost?

Nothing, if you register in advance. Otherwise it’s 20 bucks at the door.

Getting back to the contest, what’s the prize?

We can’t tell you yet. But the winner and prize will be announced following the conference.

How do I enter again?

E-mail Tyler Lowes at TLowes [at] Zimtu.com or drop by conference booth 320.

Four-twenty?

Three-twenty.

And the answer’s still no about buying weed?

Yes.

 

Read more about industrial minerals here and here.

Disclaimer: Zimtu Capital Corp is a client of OnPage Media Corp, the publisher of ResourceClips.com. The principals of OnPage Media may hold shares in Zimtu Capital.

May 29th, 2014

How lithium can change the solar landscape Industrial Minerals
1971 Murray Rothbard: The end of economic freedom GoldSeek
Frank Holmes: In a flash, China looks strong Stockhouse
Tesla CTO on energy storage: “We should all be thinking bigger” VantageWire
Phosphates: Commodity overview Geology for Investors
Survival strategies in the Atacama Desert: Chilean lithium miners manage by playing the regs Streetwise Reports
Do baby boomers impact the U.S. labour force participation rate? Equedia

May 28th, 2014

Frank Holmes: In a flash, China looks strong Stockhouse
Tesla CTO on energy storage: “We should all be thinking bigger” VantageWire
Austria to audit gold reserves at Bank of England GoldSeek
Phosphates: Commodity overview Geology for Investors
Survival strategies in the Atacama Desert: Chilean lithium miners manage by playing the regs Streetwise Reports
Graphene 2014: Natural versus synthetic graphene; cost, quality and competition Industrial Minerals
Do baby boomers impact the U.S. labour force participation rate? Equedia

Kapuskasing Gold adviser Mike Tremblay wants to continue his success in Ontario’s newest gold district

May 27th, 2014

…Read more

May 27th, 2014

Tesla CTO on energy storage: “We should all be thinking bigger” VantageWire
Austria to audit gold reserves at Bank of England GoldSeek
Phosphates: Commodity overview Geology for Investors
Chinese Moly Mines boss sentenced to death for leading crime gang that killed rivals Stockhouse
Survival strategies in the Atacama Desert: Chilean lithium miners manage by playing the regs Streetwise Reports
Graphene 2014: Natural versus synthetic graphene; cost, quality and competition Industrial Minerals
Do baby boomers impact the U.S. labour force participation rate? Equedia

EU names six new critical materials, warns of industry challenges

May 26th, 2014

by Greg Klein | May 26, 2014

Six new critical raw materials bring the European Commission’s list up to 20, posing a “major challenge for EU industry,” the EC announced May 26. An update to the original 2011 collection, the set now includes borates, chromium, coking coal, magnesite, phosphate rock and silicon metal. No longer included is tantalum, now considered to have a lower supply risk. The division of rare earths into two categories, light and heavy, brings the total to 20 materials:

Raw materials are everywhere—just consider your smartphone. It might contain up to 50 different metals, all of which help to give it its light weight and user-friendly small size. Key economic sectors in Europe—such as automotive, aerospace and renewable energy—are highly dependent on raw materials. These raw materials represent the lifeblood of today’s industry and are fundamental for the development of environmental technologies and the digital agenda.—EC Enterprise and Industry

  • antimony
  • beryllium
  • borates
  • chromium
  • cobalt
  • coking coal
  • fluorspar
  • gallium
  • germanium
  • graphite (natural)
  • indium
  • magnesite
  • magnesium
  • niobium
  • phosphate rock
  • platinum group metals
  • rare earths (heavy)
  • rare earths (light)
  • silicon metal
  • tungsten

With 54 candidates considered, materials were evaluated largely on two criteria, economic importance and supply risk. Economic importance was determined by “assessing the proportion of each material associated with industrial megasectors” and their importance to the EU’s GDP.

Supply risk was assessed through the World Governance Indicator, which considers factors “such as voice and accountability, political stability and absence of violence, government effectiveness, regulatory quality, rule of law or control of corruption.”

Not surprisingly, the report names China as the biggest global supplier of the 20. “Several other countries have dominant supplies of specific raw materials, such as Brazil (niobium). Supply of other materials, for example platinum group metals and borates, is more diverse but is still concentrated. The risks associated with this concentration of production are in many cases compounded by low substitutability and low recycling rates.” About 90% of the critical materials’ primary supply comes from outside the EU.

The commission hopes its list will encourage European production of the materials. The list will also be considered when negotiating trade agreements and promoting R&D, as well as by companies evaluating their own supplies.

As for the future, the EC sees growing demand for all 20 critical raw materials, “with niobium, gallium and heavy rare earth elements forecast to have the strongest rates of demand growth, exceeding 8% per year for the rest of the decade.”

The commission adds that “all raw materials, even when not critical, are important for the European economy” and therefore should not be neglected.

The EC intends to update its list at least every three years.

Download the EU report on critical raw materials.

May 26th, 2014

Phosphates: Commodity overview Geology for Investors
Chris Powell on the Barclays gold manipulation case: Enough money can rig any market GoldSeek
Chinese Moly Mines boss sentenced to death for leading crime gang that killed rivals Stockhouse
Survival strategies in the Atacama Desert: Chilean lithium miners manage by playing the regs Streetwise Reports
Credit Suisse fined $2.5 billion after pleading guilty to U.S. tax charge VantageWire
Graphene 2014: Natural versus synthetic graphene; cost, quality and competition Industrial Minerals
Do baby boomers impact the U.S. labour force participation rate? Equedia

Athabasca Basin and beyond

May 24th, 2014

Uranium news from Saskatchewan and elsewhere for May 17 to 23, 2014

by Greg Klein

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Kivalliq signs LOI with Westham Resources on Saskatchewan Genesis property

Its flagship Angilak project in Nunavut holds Canada’s highest-grade uranium deposit outside the Athabasca Basin. Nevertheless Kivalliq Energy TSXV:KIV was drawn into Saskatchewan with last January’s acquisition of the 198,763-hectare Genesis project. Now the company plans to bring in Westham Resources TSXV:WHR.P as a funding partner.

Under a letter of intent announced May 21, the capital pool company could acquire an 85% interest in return for 20% of its issued and outstanding shares, $1 million in payments and $5 million in spending over four years. The exploration commitment would include $1 million by year-end and another $1.5 million by August 31, 2016. Kivalliq would act as project operator for at least two years. Kivalliq director Dale Wallster would join Westham’s board.

Uranium news from Saskatchewan and elsewhere for May 17 to 23, 2014

Among other conditions, Westham must raise a private placement of at least $2 million.

The property lies northeast of the Basin in the prospective Western Wollaston Tectonic Domain and “covers basement rocks known to host uranium mineralization,” the companies stated. Previous operators and government surveys “outlined over 30 uranium showings that include several uranium-bearing boulder trains.” Based on that data, Kivalliq has identified eight initial targets for geophysics, sediment sampling, soil sampling, mapping and prospecting to be completed by early autumn. The company hopes to follow with a “major” drill program early next year.

Last February Kivalliq reported results of ore-sorting and metallurgical tests from Angilak’s Lac 50 deposit.

UEC adds one Texas property, “releases” another

Still expanding its southern Texas “hub-and-spoke” projects, Uranium Energy Corp NYSE MKT:UEC announced a new acquisition May 20, this one with a permitting advantage. The Longhorn project’s aquifer exemption “eliminates a major permitting hurdle” for a potential in-situ recovery operation, covering the mining zone of interest and allowing for expansion, the company stated. The project’s historic legacy includes drill maps and over 500 logs of gamma radiation data.

UEC compiled the project leases and data “over the last 18 months at a very low cost.”

The company also announced a decision to “release” its Channen project following evaluation of last summer’s drill results.

In April UEC completed a preliminary economic assessment for its Slick Rock uranium-vanadium deposit in Colorado. A week before that, the company announced its Burke Hollow ISR project in Texas had begun permitting.

UEC’s southern Texas holdings include the Hobson processing plant, the Palangana ISR mine, the Goliad development project and satellite properties. Of its nearly two dozen exploration properties, two are located in Paraguay and the others in the western U.S.

Unity picks up historic Uranium City region property

Twenty-six kilometres southwest of Uranium City, Saskatchewan, the Gulch Mine project comprises Unity Energy’s TSXV:UTY latest acquisition. Announced May 21, the 3,010-hectare property holds an historic, non-43-101 “reserve,” estimated by one source at around 928,796 pounds uranium oxide (U3O8) and by another at 1.65 million pounds. Gulch adjoins properties held by Fission 3.0 TSXV:FUU, Red Rock Energy TSXV:RRK and CanAlaska Uranium TSXV:CVV.

A 100% interest will require $1.2 million in payments over 18 months from Unity, which must drill 3,000 metres within three years. The vendor retains a 2.5% gross overriding royalty. Unity may buy back two-fifths for $1.5 million, less any previous royalty payments.

Earlier this month Unity closed a 100% option on the 14,200-hectare Camsell project in the northwestern Basin. In April the company optioned out 50% of its Mitchell Lake project to Rio Grande Mining TSXV:RGV.

MPVC tests NW Manitoba for uranium, “young” uranium, radon and lead 210

As a rotary air blast drill arrived on site, MPVC Inc TSXV:UNO updated its Northwest Manitoba project on May 22. The RAB drill is intended to quickly test shallow targets found by geophysical, geochemical and prospecting work. Drilling will take place over the lake while ice persists.

Two holes of core drilling have failed to convince a gamma ray spectrometer that they contain significant uranium mineralization, MPVC conceded. But “samples of the core are now being tested for radon, ‘young’ uranium and lead 210 which, if present, could signal the presence of uranium mineralization at greater depths.”

The company also reported receiving a letter of support for its one-year drill permit application from the Northlands Denesuline First Nation.

In early May MPVC stated preliminary results from the project’s radon-in-water survey showed, “to the author’s knowledge,” readings second only to Fission Uranium’s (TSXV:FCU) Patterson Lake South.

Contract prices, spending cuts help Ur-Energy withstand uranium’s descent

While uranium sinks to eight-year lows, on May 22 Ur-Energy TSX:URE revised its guidance for this year and next. With mid- and long-term contracts in place, customers have committed to buy approximately 518,000 pounds U3O8 at an average of $51.10 a pound this year, for projected revenues approaching $26.5 million.

As for 2015, the company so far has commitments for 630,000 pounds at an average of $50.10, for projected revenues of $31 million. With spending controls as well as managed production, Ur-Energy expects “to maintain a positive cash position throughout 2014 and 2015.”

Although its processing facility has a nameplate capacity of two million pounds annually, the company plans to keep production tied to contract obligations in 2015 “unless the market demonstrates sustained price improvement.”

Ur-Energy began ISR mining at Lost Creek in Wyoming last August.

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