Global Uranium and Enrichment (ASX:GUE) has released plans outlining an “exciting” pathway to develop the Hansen deposit at the Tallahassee Uranium Project in the US, following completion of a scoping assessment of the area.
The Scoping Study according to a company statement released earlier today confirmed Tallahassee as de-risked with a seven year mine life, producing an average of 1.8 million pounds of triuranium octoxide per year.
Hansen has a pre-tax net present value of US$202.8 million ($313.9 million) with an internal rate of return of 93%, based on the price of US$90 per pound of triuranium octoxide.
The pre-production capital totals US$76 million and cash operating costs of US$58.8 per pound of triuranium octoxide.
Managing Director Andrew Ferrier says Hansen is a “standout” opportunity within Tallahassee, which is home to one of the largest undeveloped uranium deposits in the US.
“Notably, the study found that hydraulic borehole mining is particularly suited to this orebody,” Ferrier says.
“It is the most cost-effective option considered and it has a significantly smaller environmental footprint than other mining techniques. At the Hansen deposit, the company will also utilise high pressure slurry ablation to beneficiate the ore to be milled at an average grade of 0.68%, minimising transport costs.
“Policy developments in the United States, including the President’s Executive Order reinstating uranium as a critical mineral, and the ongoing quest for reliable baseload power to replace retiring coal plants underscores the growing importance of nuclear energy both the US economy and globally.”
Ferrier added the latest executive order aimed to aggressively accelerate US mineral processing, which makes completing the study particularly timely.
With the study completed, Global Uranium and Enrichment is focusing on identifying and testing optimisation opportunities to enhance run-of-mine resource grades, mining methods, infrastructure, water and environmental considerations.
The Tallahassee Uranium Project, comprising five deposits in Colorado, has an overall resource of 52.2 million pounds of triuranium octoxide with an average grave of 530 parts per million.
Global Uranium and Enrichment holds a strategic position in North America’s uranium districts — the Tallahassee Creek district and the Athabasca Basin which currently supplies about 20% of the world’s uranium.
The company is attending the RIU Sydney Resources Round-up being held from 6-8 May. Mining.com.au is an official media partner at this year’s event.
Write to Aaliyah Rogan at Mining.com.au
Images: Global Uranium and Enrichment
