Overview
| Stage | Preliminary Economic Assessment |
| Mine Type | Open Pit & Underground |
| Commodities |
|
| Mining Method |
- Truck & Shovel / Loader
- Drift & Fill
- Cut & Fill
- Room-and-pillar
- Cemented backfill
|
| Mine Life | 7 years (as of Jan 1, 2011) |
Hidden Bay project includes exploration areas Tent Seal, McClean South, Shamus, Rabbit West, Wolf Lake, Rhino, Dwyer, and is located in the eastern Athabasca Basin of northern Saskatchewan, Canada. |
Source:
p. 6, 7
Hidden Bay project is 100% owned and operated by UEX Corp.
On August 22, 2022, Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) and UEX Corporation (TSX:UEX, “UEX”) closed the previously announced plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act, pursuant to which UEX Corporation (UEC) acquired all of the issued and outstanding common shares of UEX that it did not already own.
Contractors
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Summary:
Uranium deposits and prospects on the Hidden Bay property are of the unconformity type. Three deposits for which National Instrument (“N.I.”) 43-101 resources have been estimated occur on the Hidden Bay property: Horseshoe, Raven and West Bear. The Horseshoe and Raven deposits are located in north central portions of the Hidden Bay property. Mineralization at the Horseshoe and Raven deposits comprises shallow dipping zones of hematization with disseminated and veinlet pitchblende-boltwoodite-uranophane that is hosted by folded arkosic quartzite gneiss of the Hidden Bay Assemblage. Mineralization comprises a combination of disseminated pitchblende-chloritehematite, and narrower, higher grade nodular and veinlet pitchblende in hematite-clay alteration.
Mineralization at the Horseshoe and Raven deposits is entirely hosted by folded arkosic quartzite, quartzite and calc-arkosic gneisses of the Hidden Bay Assemblage and occurs at depths ranging from a few tens of m up to 460 m below surface. The mineralization is locally open at depth. The Athabasca sandstone is eroded from and absent in the area of the deposits, but local sandstone outliers that occur to the southeast of Hidden Bay and sub-Athabasca paleoweathering that is preserved in the near surface in some nearby drill holes suggest that the current surface is just below the elevation of the original sub-Athabasca unconformity in the deposit area, prior to its erosion.
The West Bear deposit, located in t ........
Mining Methods
- Truck & Shovel / Loader
- Drift & Fill
- Cut & Fill
- Room-and-pillar
- Cemented backfill
Summary:
The preliminary mining investigation revealed that the Horseshoe deposit would be amenable to underground mining methods and the Raven deposit suitable for open pit (“OP”) mining. Raven also has the potential to support an underground (“UG”) operation, under the open pit, but it would need higher than the Case A U3O8 price of US$60/lb to be economic.
The choice of mining method was determined after taking into consideration all of the known contextual factors of the Horseshoe deposit. The main factors for determining an appropriate mining method for the Horseshoe deposit were: the irregular geometry of the mineralization with varying thicknesses and a 25° average dip angle, that makes the caving and sub-level open stoping mining methods unsuitable for the deposit.
Three mining methods were initially proposed to be appropriate based on the mineral deposit size, geometry and preliminary geotechnical assessment:
• Cut and Fill (“C&F”) mining method to be used where the mineral deposit thickness and dip would not allow taking more than one cut at the same elevation;
• Drift and Fill (“D&F”) mining method to be used for the wider portion of the mineral deposit which require more than one cut at the same elevation and where the grades of mineralized material would require a higher extraction rate;
• Room and Pillar (“R&P”) mining method would be used for low grade mineralization, where D&F mining would be uneconomic.
90% of total mine ........
Source:
Summary:
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Projected Production:
| Commodity | Units | Avg. Annual | LOM |
|
Uranium
|
k lbs
| 1,962 | 15,860 |
All production numbers are expressed as U3O8.
* According to 2011 study.
Reserves at December 31, 2015:
| Category | Tonnage | Commodity | Grade | Contained
Commodity |
|
Indicated
|
10,372,500 t
|
Uranium (U3O8)
|
0.16 %
|
36,623 k lbs
|
|
Inferred
|
1,109,200 t
|
Uranium (U3O8)
|
0.111 %
|
2,715 k lbs
|
Mine Management:
| Job Title | Name | Profile | Ref. Date |
|
.......................
|
.......................
|
|
Feb 1, 2021
|
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