McKinley

Target
Sandstone-hosted, Roll-Front Uranium, In-Situ Leach

 

Project Highlights

  • enCore owns a 100% Interest in the McKinley Properties
  • Cover approximately 113,000 acres (45,700 hectares [ha])
  • Located in the Grants Uranium District covering geological environments similar to Crownpoint

Property Overview

The McKinley Properties include approximately 210 sections or partial sections within 17 townships. The properties cover approximately 113,000 acres (45,700 ha), are located within a large area of about 150 miles by 150 miles , and are comprised of fee simple interest lands.

The properties are located in McKinley County which lies in northwestern New Mexico. The properties are approximately 125 miles northwest of Albuquerque, and as close as 4 miles from the town of Crownpoint.

enCore Energy Corp. owns a 100% interest in the McKinley Properties subject to a 3% Royalty.

Mineral Resources

There are no current uranium resources or reserves on the McKinley Properties.

Geology and Mineralization

The McKinley Properties lie on the Chaco Slope of the 100-mile wide San Juan Sedimentary Basin. The basin is filled with up to 15,000 feet of Paleozoic and Mesozoic sediments consisting of predominantly sandstone, siltstone and shale with minor limestone. The basin is asymmetric with the southern limb dipping gently to the north and the northern limb dipping steeply to the south.

Within the basin, the Jurassic Morrison Formation is the primary host for the uranium mineralization. The Morrison Formation is divided into three members. The lowest is the 255 foot thick Recapture Shale Member which is overlain by the 350 foot thick Westwater Member, which in turn is overlain by the 115 foot thick Brushy Basin Shale. The Westwater Member is the most important host to uranium mineralization and is composed of fine- to coarse-grained, poorly sorted, feldspathic sandstone with conglomeritic zones and minor discontinuous mudstone and shale units.

The sandstone units of the Westwater Member strike west-northwest and dip gently to the northeast. The units are generally oxidized updip and to the south of the mineralized zone and reduced downdip and to the north of the mineralized zone. The oxidized units are generally reddish-brown from the iron content, whereas the reduced units are generally green to grey due to the organic compounds, reduced iron compounds, or clay-chlorite assemblages.

Historical Exploration

Although no significant resources have been reported on the McKinley Properties, extensive exploration for uranium in the Crownpoint area has outlined significant uranium mineralization in geological environments similar to those found in the McKinley Properties.

References

Mark C. Shutty, CPG, a Consultant to the Company, is the Qualified Person as defined under National Instrument 43-101 and has reviewed and verified the information presented on the Company’s McKinley project.