TSXV:VEC.H - Post by User
Comment by
metalslugon Apr 27, 2010 4:25am
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Post# 17033940
RE: RE: drill 10-2 over 1700ppm of U308
RE: RE: drill 10-2 over 1700ppm of U308You simply cannot compare the grades that HAT/FIS has going on their project. Their project is several hundred meters down, it's an underground operation (no matter what they claim) .And even though they hit that kind of grades they only have, what 12 Mlbs of U3O8? It's because of these very high grade "shoots" and when they are added up the tonnage is way lower than the large scale, bulk, low grade plays. It's the pound in the ground that counts and what the costs are to bring it up.
I'd recommend you to read this:
"The low-grade open pit uranium deposit shows similar economics at 1/1000th of the grade as the much higher grade undergrounds mine! The reality is that ALL the new uranium production in the last five years has been from lower grade material. And when I started looking at the line up of near term producers – i.e. those with economic studies, they were all lower grade deposits."
The new discovery on A4 and drill results URC announced yesterday are amazing. These are high grades for surface plays. Compare it to the Namibian projects Bannerman (208 ppm) and Forsys (129 ppm) has and have a second look at the drill results released yesterday.
This is really exciting, could be another big discovery for URC:
"The area with drill results received to date occurs along an approximately 350 meter length within anoverall potential strike length of approximately 1,500 meters, as defined by airborne radiometrics, surface mapping and channel sampling. Mineralization is open along strike and to depth starting from surface throughout this area."
Looking forward to the new resource estimate on Double S, further drill results and a recovering U3O8 price.. URC will be a sure winner. They already have over 41 Mlbs on Double S and with the new discoveries Grandroyand A4 it's getting really exciting. IMHO amazing buying opportunity down here and I took advantage of it again yesterday.