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Canada
Patterson Lake South (PLS) Project

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 Location:
130 km N from La Loche, Saskatchewan, Canada

  Project Contacts:
700 – 1620 Dickson Avenue
Kelowna
British Columbia, Canada
V1Y 9Y2
Phone  ...  Subscription required
Fax1-250-868-8493
EmailEmail
WebsiteWeb
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  • Overview
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  • Mining
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  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • U3O8
  • Gold
Mining Method
  • Drift & Fill
  • Transverse stoping
  • Longitudinal retreat
  • Cemented backfill
Mine Life6.5 years (as of Jan 1, 2019)
The UG PFS is based on using underground mining methods, and processing of 1,000 tonnes per day (tpd) via acid leaching, solvent extraction (SX), and precipitation. The Project has the potential to produce up to 15 million pounds (Mlb) of triuranium octoxide (U3O8) per year in the form of yellowcake. The UG PFS presents an alternative scenario to the combined open pit and underground plan presented in April 2019 (the Hybrid PFS).
Latest NewsFission Files Feasibility Study Highlighting Tier 1 Economics for PLS High-Grade Uranium Project     March 2, 2023


Owners

Source: p. 11
CompanyInterestOwnership
Fission Uranium Corp. (operator) 100 % Direct

Contractors

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Deposit Type

  • Metamorphic hosted
  • Vein / narrow vein


Summary:

The Triple R deposit is considered to be an example of a basement hosted vein-type or fracture-filled uranium deposit.

Mineralization is known to occur at five locations on the PLS Property, from west to east: 1) R1515W, 2) R840W, 3) R00E, 4) R780E, and 5) R1620E, the most significant of which is the R780E zone. Uranium mineralization discovered on the Property to date is hosted primarily in basement lithologies with subordinate amounts intersected in the overlying Devonian sedimentary rocks. Mineralized zones occur within or near to the MSZ over a 3.17 km strike length along the PLG-3B EM conductor.

Uranium mineralization at the PLS Property is hosted primarily within metamorphosed basement lithologies and, to a much lesser extent, within overlying Meadow Lake Formation sedimentary rocks.

Mineralization within the Meadow Lake Formation sedimentary rocks typically occurs as fine grained disseminations, sooty blebs, and rarely semi-massive uranium mineralization. Uranium concentrations within the Meadow Lake Formation are generally low to moderate, however, grades greater than 1.00 wt% U3O8 have been intersected. When mineralized, the Meadow Lake Formation is typically strongly clay and chlorite altered, though locally can be pervasively hematite stained a deep red. Relative to basement hosted mineralization, only a very small amount of mineralized Meadow Lake Formation has been intersected on the PLS Property to date.

Basement hoste ........


Mining Methods

  • Drift & Fill
  • Transverse stoping
  • Longitudinal retreat
  • Cemented backfill


Summary:

The mining method for the underground will be longhole retreat mining in both transverse and longitudinal methods, and some localized drift and fill mining based on current block model information. The mining will progress from the bottom levels to the top, and from the southwest to northeast. Mining is planned at nominally 1,000 tpd ore.

The mine will be accessed using a decline originating to the west of the R00E deposit. The decline will include a box cut into the overburden, and a portal face collared in the overburden. The first stage of the decline will be developed through overburden for approximately 405 m, using the New Austrian Tunneling Method (NATM – a method commonly used in soft ground), also known as Sequential Excavation Method (SEM), or Sprayed Concrete Liner (SCL). Following this, the decline will transition through weak bedrock for an additional 133 m, until reaching the competent bedrock.

A key component of the underground design is the concept of using artificial ground freezing to extract some of the crown pillar – the mineralized material that approaches the overburden layer. This will be done using horizontal directional drilling from the shore of Patterson Lake and then pumping a refrigerated brine solution through the drill holes to effectively freeze the ground in the areas of stopes.

The portal is situated within the Box Cut. The face of the portal is perpendicular to the gradient of the decline, while the si ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
U3O8 M lbs 1575
All production numbers are expressed as yellow cake.

Operational Metrics:

Metrics
Daily ore mining rate 1,058 t *
Waste tonnes, LOM 3,072 kt *
Ore tonnes mined, LOM 2,299 kt *
Total tonnes mined, LOM 5,372 kt *
Daily processing rate 1,005 t *
Tonnes processed, LOM 2,299 kt *
Annual processing rate 350,000 t *
* According to 2019 study.

Reserves at September 19, 2019:
Underground Mineral Reserves were estimated by creating stope shapes using a stope optimizing tool. The stope optimizer was run using a cut-off grade of 0.25% U3O8, with a minimum mining width of 3.0 m (including hanging wall and footwall dilution), on 20 m vertical stope heights.
Mineral Resources based on a $50/lb uranium price at a cut-off grade of 0.25% U3O8 and a potential underground scenario.

CategoryTonnage CommodityGradeContained Metal
Probable 2,299 kt U3O8 1.61 % 81.4 M lbs
Indicated 2,216 kt U3O8 2.1 % 102.4 M lbs
Indicated 2,216 kt Gold 0.61 g/t 43.1 koz
Inferred 1,221 kt U3O8 1.22 % 32.8 M lbs
Inferred 1,221 kt Gold 0.5 g/t 19.6 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs U3O8 USD  ......  Subscription required&nbs
Assumed price U3O8 USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
UG mining costs ($/t milled) CAD 137 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 266.4
G&A costs $M CAD 172.5
Total OpEx $M CAD  ......  Subscription required
Income Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of September 19, 2019:
HME TypeModelQuantity
ANFO Loader ....................... Subscription required ....................... Subscription required
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 5, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2019
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2019
....................... Subscription required ....................... Subscription required Subscription required Jan 23, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 5, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2019
Subscription required - Subscription is required.

News:

NewsDate
Fission Files Feasibility Study Highlighting Tier 1 Economics for PLS High-Grade Uranium Project March 2, 2023

Subscription required - Subscription is required.

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