United States

Slick Rock Project

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Categories

Overview

Mine TypeUnderground
StagePreliminary Economic Assessment
Commodities
  • Uranium
  • Vanadium
Mining Method
  • Room-and-pillar
Mine Life... Lock

Owners

SourceSource
CompanyInterestOwnership
Anfield Energy Inc. 100 % Indirect
The Slick Rock Project was a significant acquisition for Anfield resulting from an asset swap with Uranium Energy Corp. (UEC-US) in 2022.

Deposit type

  • Sediment-hosted

Summary:

In the Slick Rock district, uranium/vanadium deposits of the Morrison are mainly tabular to lenticular and elongate parallel to sedimentary trends. Tabular trends are localized in massive sandstones where clay and mudstone are interstitial, in scattered and streaked gall and pebble accumulations, and are found in discontinuous lenses. Conversely, roll deposits are narrow, elongate, and curve sharply across bedding and appear to be confined to sandstone where clay and mudstone are well indurated within interconnected layers (Figure 8.1a). Mineralization in either case, tabular or roll deposits, averages about 0.25% U3O8 and 1.5% V205 within the impregnated sandstone. The mineralized bodies have an average thickness of 2 ft to 4 ft and range in size from a few feet wide to several hundred feet wide (Fischer and Hilbert, 1952). These deposits can contain a few tons of ore to several thousand tons in the larger ore bodies.

The uranium- and vanadium-bearing minerals occur as fine-grained coatings in detrital grains; they fill pore spaces between the sand grains and replace carbonaceous material and some detrital grains (Weeks et al., 1956).

The primary uranium minerals are uraninite (UO2) with minor amounts of coffinite (USiO4OH). Montroseite (VOOH) is the primary vanadium mineral, along with vanadium clays and hydromica. Metal sulfides occur in trace amounts. Mineralization occurs within tabular to lenticular bodies that are peneconcordant within sedimentary bedding. Mineralization may also cut across sedimentary bedding to form highly irregular shapes. The mineralized bodies have an average thickness range of 2-4 ft and range in size from a few feet wide to several hundred feet wide. The length can also vary from a few feet to several hundred feet. Secondary minerals: calcium uranyl vanadate (Tyuyamunite) (Ca(UO2)2(VO4)2 5-8(H2O)) and potassium uranyl vanadate (Carnotite (K(UO2)2(VO4)2 1-3(H2O)) occur in shallow oxidized areas and on outcrop.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Summary:

Specific metallurgical testing is not available for the Slick Rock Project. However, mineralized material from the Slick Rock Project area, as well as similar deposits in the Uravan Mineral Belt has been processed successively for uranium and vanadium for more than 50 years. Further, the PEA is not based on the processing of the mineralized material, but rather the sale of the mineralized material to the White Mesa mill in Blanding, Utah. On-site processing via vat or heap leaching could produce intermediate products including on-site concentrated product liquor (slurry or paste), or loaded resin, which could be shipped for final processing and drying to existing facilities. This approach would allow shipment of concentrate to a larger variety of existing facilities, whereas, the White Mesa mill is the only mill currently receiving raw mine feed. This approach could include shipment of concentrate to the UEC Hobson facility.

Processing

Summary:

Specific metallurgical testing is not available for the Slick Rock Project. However, mineralized material from the Slick Rock Project area, as well as similar deposits in the Uravan Mineral Belt has been processed successively for uranium and vanadium for more than 50 years. Further, the PEA is not based on the processing of the mineralized material, but rather the sale of the mineralized material to the White Mesa mill in Blanding, Utah.

On-site processing via vat or heap leaching could produce intermediate products including on-site concentrated product liquor (slurry or paste), or loaded resin, which could be shipped for final processing and drying to existing facilities. This approach would allow shipment of concentrate to a larger variety of existing facilities, whereas, the White Mesa mill is the only mill currently receiving raw mine feed. This approach could include shipment of concentrate to the UEC Hobson facility.

Recoveries & Grades:

CommodityParameterAvg. LOM
Uranium Head Grade, % 0.21
Vanadium Head Grade, % 1.27

Production

CommodityProductUnitsLOM
Uranium Contained U3O8 k lbs 7,384
Vanadium Contained V2O5 k lbs 44,302

Production Costs

CommodityUnitsEstimated
Assumed price Vanadium USD 10 / lb *  USD
Assumed price Uranium (U3O8) USD 60 / lb *  USD
* According to 2014 study / presentation.

Operating Costs

Currency2024
UG mining costs ($/t mined) USD 61.5 *  USD
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2014 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 7% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 7% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 3, 2024

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