- enCore has acquired a 100% interest in the 800 acre (335 ha) Nose Rock Property
- Hosts a sandstone-type uranium deposit discovered and drilled by Phillips Uranium Corp. in 1970s and 1980s
- Located in the northern Grants Uranium District approximately 10 miles (16 km) north-northeast of the Company’s cornerstone Crownpoint Project
- enCore’s “historical resources estimate” is based on 185 drill holes from a 2009 NI 43-101 Technical Report
The Nose Rock property is located in McKinley County, New Mexico, on the northern edge of the Grants Uranium District, approximately 10 miles north-northeast of the Company’s cornerstone Crownpoint Project. The property consists of 42 unpatented lode mining claims comprising over 800 acres (approximately 335 hectares). The property and surrounding area were extensively explored during the 1970s and 1980s by Phillips Uranium Corp. More than 185 holes were drilled within 27 claims located on Section 1, to define the historical mineral resources described below. An additional 12 claims are located in section 2, and for which the Company does not have drilling records. In 1977, a feasibility study was completed and Phillips began mine planning for the greater Nose Rock area, with production expected to begin using conventional underground mining methods. However the Nose Rock project was not advanced owing to the decline in the uranium market price in the early 1980s.
enCore Energy Corp. has not done sufficient work to classify the historical estimates reported below under Historical Exploration, as current mineral resources or mineral reserves. Further compilation of the historic geological and drilling data, resource modelling and possible confirmation drilling will be necessary to convert the historic estimates outlined below to NI 43-101 resources/reserves.
Geology and Mineralization
The Jurassic age Morrison Formation Member hosting most of the sandstone-type uranium deposits in the Grants Mineral Belt, including the Nose Rock area, is the Westwater Canyon sandstone. The Westwater Canyon is 50 feet to over 300 feet thick in the Grants Mineral Belt. The larger mineral deposits tend to occur in the, relatively, thicker sand units.
The mineralized host in enCore’s Section One is the Westwater Canyon, which is about 305 feet thick; the middle Westwater Canyon sand is only 18 feet thick, arkosic and medium to fine grained. Uranium mineralization occurs as both tabular and roll-type in the middle part of Westwater Canyon sand.
On February 9, 2009, Strathmore Minerals Corp filed the NI 43-101 ”Technical Report on Section 1, T18N, R12W, Nose Rock Uranium Property, McKinley County, New Mexico” on SEDAR including a mineral resource estimate for the property. The estimate was made using a polygonal estimation method of uranium content based on gamma logs from more than 185 holes drilled on the property by Phillips Uranium Company.
Under “Rules and Policies” of NI 43-101Standards of Disclosure enCore is required to report this estimate as a Historical Mineral Resource Estimate.
|Table 1 - Historical Mineral Resource Estimate for the Nose Rock Uranium Property|
|Section One, T18N, R12W, NMPM, McKinley County, New Mexico|
|Grade Cutoff > =.10 - GT Cutoff >=.60|
|Category||Tons||Grade eU3O8%||U3O8 (lbs)||Avg. Thickness|
|Total (M+I)||884,091||0.147||2,593,486||9.91 ft|
The Technical Report, including the Historical Mineral Resource Estimate, on the Nose Rock Uranium Property was prepared for Strathmore Minerals Corp. by M. Hussan Alief, CPG, Alinco GeoSciences Inc., Wheat Ridge, CO 80034, February 9, 2009. The reader is referred to the Technical Report filed on SEDAR by Strathmore for additional information.
Under “Rules and Policies” of NI 43-101Standards of Disclosure this mineral resource estimate must be reported as a Historical Resource Estimate. A qualified person has not done sufficient work for enCore to classify the historical estimate as a current mineral resource estimate. The Company does not treat this historical estimate as a current mineral resource estimate, and the estimate should not be relied upon.
Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Qualified Person as defined under National Instrument 43-101 and has reviewed and verified the information presented throughout this enCore Energy Corp. website.