- Total inferred resources of 2.75 Mlb U3O8 at an average grade of 810 ppm over an average thickness of 8.5 feet.
### Insight:
The inferred resources at the Chord Project have significant potential with a substantial amount of uranium present, indicating a promising opportunity for further exploration and development in the area.
- MRE was based off only 431 of the over 1,247 drill holes historically drilled at the Chord. The 431 drill holes had both reliable collar mapping and geophysical data available for interpretation.
### Insight:
The limited number of drill holes used in the Mineral Resource Estimate (MRE) suggests that there is a substantial amount of untapped exploration potential at the Chord Project, with the possibility of discovering additional resources beyond the current estimate.
- The areas underlying the MRE have the reasonable possibility of connectivity between them along trends within the same fluvial sands of the Inyan Kara group. These broad trends have been projected to connect the drilling in the Viking Area to the Ridge Runner, the Ridge Runner to the October-Jinx, and Southwest of October Jinx.
### Insight:
The potential connectivity between different areas within the project indicates a cohesive geological structure that could hold significant mineralization, providing a strategic direction for future exploration and resource delineation.
- The Company has delineated Exploration Targets at the Chord Project are estimated in the range of 1.42 to 4.23 Mlb U3O8 of potential as further described below. These targets currently have insufficient data and are conceptual in nature. Further exploration is needed to test them for mineralization. No guarantee is made that any future resource will be delineated by future exploration.
### Insight:
The delineation of Exploration Targets underscores the Company’s commitment to expanding its resource base, indicating a proactive approach to exploration and development at the Chord Project.
- Estimated Inferred Mineral resources for uranium are reported at a GT cutoff of 0.25 with a minimum intercept grade of 0.02% equivalent U3O8.
### Insight:
The specific parameters used to determine the Inferred Mineral resources highlight the quality and potential of the uranium deposits at the Chord Project, setting a standard for future exploration and resource estimation in the region.
- A drilling program targeting the confirmation of the current resource would also provide data on the hydrogeology of the mineralized horizons and evaluate their potential for extraction by ISR methods. If the deposit or portions thereof are determined to be In-situ Recovery (ISR) amenable, similar grade and GT cut-offs as were applied to the current Inferred Resource would also be applicable.
### Insight:
The emphasis on understanding the hydrogeology and extraction methods at the Chord Project showcases a comprehensive approach to resource evaluation, gearing towards potential future production using innovative techniques.
- Data from two existing monitoring wells onsite indicates that the lower portion of the Chilson member lies within a saturated aquifer. The mineralized portion of this aquifer may prove to be potentially extractable by in-situ recovery (ISR) methods.
### Insight:
The presence of a saturated aquifer with mineralized content suggests a viable opportunity for In-situ Recovery (ISR) methods, offering a sustainable and efficient approach to uranium extraction at the Chord Project.
- The Fall River Uranium district is a past producer of approximately 250,000 tons of mineralized material. Mining in the project area was primarily limited to small sized open pit methods, and focused on the uppermost, oxidized mineral horizons within the Inyan Kara Group. The deeper mineral horizons, particularly with the October-Jinx area were left undeveloped but were strongly explored by Union Carbide Corporation in the late 1970’s.
### Insight:
The historical context of mining in the Fall River Uranium district provides valuable insight into the geological potential and exploration opportunities within the Chord Project, pointing towards untapped resources in deeper mineral horizons.
The Exploration Target ranges highlight the speculative yet promising nature of the potential resources at various trends within the Chord Project, indicating a roadmap for future exploration and resource delineation.
### Insight:
The delineation of exploration targets sets the stage for a comprehensive exploration strategy at the Chord Project, guiding efforts towards unlocking additional mineral resources and expanding the project’s overall resource base.
