PDAC Presentation
Agree with Dufflite and jawcellis with regard to today’s presentation by Ross M. Being out most of the day, it took some time to read today’s posts trying to get a flavour of the day before posting. The flavour apparently was quite tasty. Not really all that surprising given Sunday’s NR.
The following are just some of the points that struck me. Most of the information is not new information to those that have been following the story. As well, I am not a geologist by any stretch of the imagination. Any errors are due solely to my slow note taking and lack of focus.
Ross started off by emphasizing all the boxes were ticked off: 1) large, 2) high grade, 3) shallow & 4) leading jurisdiction. My take is that Ross was stating that this is a premium grade deposit.
Ross referenced grade and identified half the deposit as being 18% or higher. He stated the higher grade ore was in the middle, surrounded by a lower grade envelope. What’s more, this pattern was consistent. Talking about similarities he identified 600W as being similar to 780E. Now I was out of the loop today and this was the first indication, to me at least, that he was surmising a possible connection from 600W to 780E. I see that some posters were speaking to this point earlier in the day. Well you and Ross are on the same page. In support of this theory he identified most of the U deposits in the Athabascan region as long and narrow and following fault lines.
Most shallow deposits are mined out. Triple R ranges from 50m to 300m. There has not been a deposit like this in 30 to 40 years. Furthermore 75% of Triple R is in the indicated category. Again I think he is emphasizing that this is a premium deposit. They also expect to step out laterally and convert some of the inferred to the indicated category. I think I also heard him say that the 00 zone counts for about 5% of the maiden resource estimate.
He was also asked about the investment in FUU. I found his answer to be quite straightforward and clear. FWIW: 1) We’ve always believed in FUU, 2) We have been staking the property, 3) We believe in FUU projects and 4) We hope to make discoveries.
My comments
FCU cannot control the factors in the macro uranium space but their efforts in managing the micro space as it applies to PLS has been nothing short of spectacular. This is a superior technical team and they have proven over the last two years that they know how to position the drills to find uranium. Well done!