8x the avg volume & 12% jump for URM w/ latest news! 8x the average volume & solid jump for First American Uranium (URM.c FAUMF) today after announcing it has engaged with local, state and federal authorities at the Red Basin Uranium Project Site to discuss URM's Plan of Operations as well as impacts and benefits to local communities and the environment
With heavy historical exploration including the drilling of many hundreds of drillholes resulting in substantial historical resource definition, the project has significant potential. Previous studies have estimated a resource between 1.5 and 6.5 MILLION pounds U3O8 at Red Basin property with the potential to become an advanced stage project as indicated by the initial draft NI 43-101 report which confirmed the presence of uranium/vanadium deposits.
URM CEO, Shawn Balaghi, commented:
“It is critical to our values to be good corporate citizens as well as environmental stewards while we advance the project through exploration milestones. It is key that we work together with the relevant authorities as well as local communities and their interests. Uranium mining in New Mexico has a long history and we want to continue to ensure that there is benefit to all stakeholders, local communities and the greater environment.”
“America is in serious need of domestic uranium supply sources, and the Red Basin project has the potential to reliably provide this critical element from its location in New Mexico, roughly 200 miles away from the only operating uranium mill in America.”