Turnercrest

Project Highlights
  • enCore Energy Corp. owns a 100% interest in the 1,400 acre (566 ha) property
  • Located within the prolific Powder River Basin along with numerous other roll-front uranium deposits

Property Overview

The Turnercrest Property consists of a Wyoming State Mineral Lease, a private mineral lease and 25 unpatented mineral claims over approximately 1,400 acres. The property is located in the Converse and Campbell Counties of Wyoming and lies along trend of the planned Moore Ranch ISR uranium mine, held by Uranium One Inc.

The property contains roll-front style uranium mineralization within the Eocene Wasatch Formation and has the potential to host multiple stacked mineral horizons and roll-front systems similar to those found on the Moore Ranch Property.

enCore Energy Corp. acquired this exploration-phase property from Energy Fuels Resources Corporation (EFR) following EFR’s merger with Magnum Uranium Corp. (Magnum).

Mineral Resources

There are no current uranium resources or reserves on the Turnercrest Property.

Geology and Mineralization

The Turnercrest Property is located within the southern Powder River Basin. The basin is a north-northwest trending, asymmetrical syncline that extends from central Wyoming into southern Montana and from the western slopes of the Black Hills to the eastern flank of the Big Horn Mountains.

The area is characterized by shallow, northeast dipping strata forming low bluffs and broad flat uplands cut by gullies from recent erosion. Cretaceous and early Tertiary sedimentary and volcaniclastic rocks cover most of the surface within the basin.

Locally the surface units are members of the Paleocene Fort Union Formation and the overlying Eocene Wasatch Formation. The Fort Union Formation is a fluvial sedimentary unit consisting of fine- to coarse-grained arkosic sandstone interbedded with siltstone, mudstone, and carbonaceous material. The Wasatch formation is the youngest strata on the Turnercrest Property and contains sandstones, clays and shales. On other properties in the Powder River Basin, uranium has been mined from several sandstone horizons within each of these formations.

To date, the southern Powder River Basin has produced in excess of 60 million pounds of uranium that includes production from Cameco’s Smith Ranch ISR mine.

The uranium deposits of the Powder River Basin are classified as roll-front style mineralization produced by the dissolution, transport and deposition of uranium at irregular, active boundaries where a reducing environment balances the oxidative capacity of the uranium-bearing ground water.

The deposits of the Powder River Basin are typically multiple “C-shaped” roll fronts distorted by variations in the gross lithology of the host sandstone unit. Individual rolls range in thickness from 3 to 20 feet and may be 3,000 feet in length. The individual ore-grade beds are dispersed throughout the mineralized zone, but the mineralized sections of sandstone may approach 500 feet in thickness, as they occur in stacked deposits.

Historical Exploration

The property covers a 1.5-mile long trend of shallow, near-surface uranium mineralization that includes the historic North American Key, Sundance Betty, Little Betty and Powder River Minerals mines, all of which produced uranium between 1955 and 1956.

In 2006 Magnum announced the results of their ground scintillometer survey on the property. They identified a significant and sizeable surface radiometric anomaly.

Results of the survey revealed a sizeable and continuous 3,500-foot long, northeast-trending zone of anomalous radioactivity that extends from the North Pit area (historic Powder River Minerals pit area) southwestward to the Middle Pit area (historic Key claims area).

Magnum geologists collected grab and rock-chip samples from surface outcrops, shallow prospect pits and trenches. Assays showed the samples contained ore-grade uranium values over extensive areas along the trend of mineralization. Values ranged from 0.021% to 9.11% U3O8.

Visible black primary and yellow-green secondary uranium minerals were found within ferruginous and manganese-oxide stained sandstone and conglomerate host rocks of the Wasatch Formation.

This target contains significant untested potential for extensive shallow roll-front uranium mineralization in the Eocene Wasatch Formation, as well as for deeper, stacked mineralization in underlying sandstones of the Paleocene Fort Union Formation.

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 above.