Sprott,Grandich + pounds in the ground Pulled this from another poster.Thought it was worth posting here as it refers to our Macusani venture.
Uranium was discovered in Macusani region in the 1970s by the Peruvian Institute of
Nuclear Energy ("IPEN"). This organisation identified 60 uranium Targets. Since 2005,
Solex is the largest landholder in the District. 48,500 hectares are under a jv with Frontier
Pacific Mining Corp. (Macusani) and 36,000 hectares (Macusani West), which are 100%
owned by the Solex.
This year, 44 drill holes were completed on the first 4 targets at Macusani. The results
have confirmed the continuity and grade of near-surface uranium with economic grades
ranging from 0.03% to 0.1% U3O8 (0.75 to 2.4 pounds per ton) over substantial widths
at depths. These results are considered to be well within economic grades and are being
used by the operator (Frontier), who is paying the bill for the next round of drilling , to
undertake a 20,000-meter drill program on 8 additional targets starting this fall.. These 8
targets are expected to outline a resource in excess of 50 million pounds of uranium!!
Let's not forget, this is only from 8 of the 60 uranium targets.
The leachability was also confirmed in 2006 as initial leach tests produced recoveries as
high as 97.6%. With all-in costs expected to be at a low US$12/lb, this property has
an enormous potential.
Peter Grandich Report
Listen to me!! I believe in my biased opinion that Solex is where Crosshair Exploration
was both in price and on the corporate ladder this time last year. I’m highly optimistic
that we can see a similar pattern for SOX over the next 12 months! The fact that Sprott
approached them and made an investment only adds to my comfort level.