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United States
Sheep Mountain Project (Congo Project, Sheep Project)

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 Location:
11 km S from Jeffrey City, Wyoming, United States

  Project Contacts:
225 Union Boulevard Suite 600
Lakewood
Colorado, United States
80228
Phone  ...  Subscription required
Fax303-974-2141
EmailEmail
WebsiteWeb
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Overview

StagePermitting
Mine TypeOpen Pit & Underground
Commodities
  • Uranium
  • U3O8
Mining Method
  • Truck & Shovel / Loader
  • Room-and-pillar
  • Cemented backfill
Mine Life12 years (as of Jan 1, 2021)
The Sheep Mountain Project consists of permitted open pit and underground extraction components and a planned processing facility to process extracted mineralized material which has not yet been permitted.

The Company will continue to evaluate its options for processing Sheep Mountain mineralized material, including continuing to pursue permitting for a heap leach facility at the site, or determining whether arrangements can be made to process Sheep Mountain mineralized materials at a third-party processing facility. Submittal of the license application to the WDEQ-LQD for a heap leach processing facility at the site is on hold pending the Company’s evaluation of off-site processing options for this project. The project is currently on standby, pending completion of the evaluation of the processing options for the Sheep Mountain Project and improvement in market conditions.


Owners

Source: p. 18
CompanyInterestOwnership
Energy Fuels Inc. 100 % Indirect
The Sheep Mountain Project (Congo Pit and Sheep Underground) is held by the Company’s (Energy Fuels Inc.) subsidiary Energy Fuels Wyoming Inc.

Contractors

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Deposit Type

  • Sandstone hosted


Summary:

Within the Sheep Mountain Project area, uranium mineralization is contained in the lower to middle Eocene Battle Spring Formation. The Battle Spring Formation, consisting of upper and lower members (designated the "A" for the lower and "B" for the upper), is a fluvial deposit. Mineralization is hosted by the Battle SpringFormation and has been described extensively since the 1960s and has been termed a "Wyoming Roll Front System." These deposits are often organic-rich, fine-grained lenses in tabular, or "roll front," configurations. The uranium mineralization occurs primarily in the lower member of the Battle Spring Formation (Stephens,1964).

The host of uranium mineralization for the Project is the Battle Spring Formation. Most of the mineralization in the Crooks Gap district occurs in roll-front deposits(Bendix, 1982). Roll fronts have an erratic linear distribution but are usually concordant with the bedding. Deposits have been discovered from the surface down to adepth of 1,500 feet (Stephens, 1964). The two major uranium minerals are uranophane and autunite. Exploration drilling indicates that the deeper roll-type deposits are concentrated in synclinal troughs in the lower Battle Spring Formation. Three possible sources for uranium have been suggested: post-Eocene tuffaceous sediments, leached Battle Spring arkoses, and Precambrian granites (Granite Mountains).

Structural controls of uranium occurrences along roll fronts include carbonaceous siltsto ........


Mining Methods

  • Truck & Shovel / Loader
  • Room-and-pillar
  • Cemented backfill


Summary:

The project consists of two distinct and independent mining areas, the Congo Open Pit and the Sheep Underground, with common processing on mine material via aheap leach recovery facility. The currently planned mine life of the open pit is 12 years with an additional four years allotted for mine closure and reclamation. The currently planned mine life of the underground is 12 years which includes one year for development and 11 years mine production. The heap leach facility is designed to accommodate the mined material from both open pit and underground mine operations over an operating life compatible with the open pit operations.

Congo Open Pit
The current mine design for the Congo Pit includes typical highwall heights in the range of 100 to 400 feet and reaches a maximum depth of 600 feet in localized areas in the southeast pit corner. The open pit design employs similar design parameters and mining equipment configurations to those used successfully in past Wyoming conventional mine operations. Highwall design is based upon the performance of past projects in the Sheep Mountain and Gas Hills districts and includes an average highwall slope of 0.7:1 (horizontal: vertical), which reflects the average of a 10-foot bench width and 50-foot highwall at a 0.5:1 slope.

The host formation is exposed at the surface and dips between 9 and 16 degrees to the southeast. The initial pit construction will create access from the open pit mine area to the mine was ........


Crushing and Grinding


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Uranium M lbs 1.417
All production numbers are expressed as yellow cake.

Operational Metrics:

Metrics
Ore tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at December 31, 2021:
In Situ Mineral Resource are estimated at GT cut-off of 0.10 (2 ft. of 0.05% eU3O8) for open pit and 0.30 (6 ft. of 0.05% eU3O8) for underground.
In Situ Mineral Reserves are estimated at GT cut-off of 0.10 (2 ft. of 0.05% eU3O8) for open pit and 0.45 (6 ft. of 0.075% eU3O8) for underground.

CategoryTonnage CommodityGradeContained Metal
Probable 7,453 k tons U3O8 0.123 % 18,365 k lbs
Indicated 11,663 k tons U3O8 0.12 % 27,935 k lbs

Commodity Production Costs:

CommodityUnitsAverage
Total cash costs Uranium (U3O8) USD  ......  Subscription required&nbs
Assumed price Uranium (U3O8) USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/ton mined) USD 37.8 *
UG mining costs ($/ton mined) USD  ......  Subscription required
Combined mining costs ($/ton mined) USD  ......  Subscription required
Processing costs ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Financials:

Units2021
Book Value M USD  ......  Subscription required
Subscription required - Subscription is required

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
OP/UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 143.6
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 7% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 31, 2021
....................... Subscription required ....................... Subscription required Subscription required Sep 6, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Corporate Presentation 2017
Form 10-K 2017
Form 10-K 2016
Form 10-K 2015
Pre-Feasibility Study Report 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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