Business
Energy Fuels Announces Initial Results of Test-Mining Program Targeting Vanadium at La Sal Complex; Update on Recent Positive Federal Actions
LAKEWOOD, CO, Oct. 25, 2018 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company") is pleased to provide the following upda
About this update from Energy Fuels Inc.
[{"type":"text","content":" LAKEWOOD, CO, Oct. 25, 2018 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\" or the \"Company\") is pleased to provide the following updates on activities at the Company's La Sal Complex of uranium/vanadium mines, in addition to recent positive federal government actions that affect the Company's projects. Initial Results of Test-Mining Program Targeting Vanadium at La Sal Complex As previously announced, the Company has commenced a limited conventional vanadium mining program at its 100% owned and fully permitted and constructed La Sal Complex of uranium/vanadium mines in Utah. The purpose of the test-mining program is to evaluate different approaches that selectively target high-grade vanadium zones, thereby potentially increasing productivity and mined grades for vanadium and decreasing mining costs per pound of V2O5 and U3O8 recovered. After three weeks of test mining and evaluation, the Company is discovering areas of high-grade vanadium mineralization that were not previously mined due to the relatively lower uranium grades in the material. While the test mining campaign is still in its early stages, the Company is pleased to provide the following assay results from the initial 420 tons of material mined and sampled to date: Area Stope Sample Date Tons Mineralized Material % V2O5 %U3O8 V2O5:U3O8 Ratio Lbs. V2O5 Lbs. U3O8 2300 2380 10/9/2018 63 1.540% 0.074% 20.8 1,940 93 2300 2380 10/9/2018 63 1.872% 0.141% 13.3 2,359 178 2300 2380 10/9/2018 35 1.461% 0.119% 12.3 1,023 83 2300 2380 10/10/2018 28 1.993% 0.109% 18.3 1,116 61 2300 2380 10/10/2018 28 1.854% 0.172% 10.8 1,038 96 2300 2380 10/11/2018 14 3.104% 0.171% 18.2 869 48 2300 2380 10/11/2018 14 1.491% 0.075% 19.9 417 21 720 721 10/9/2018 35 1.247% 0.082% 15.2 873 57 720 721 10/9/2018 21 1.948% 0.032% 60.9 818 13 720 721 10/9/2018 7 1.271% 0.204% 6.2 178 29 2300 2310 10/12/2018 28 1.366% 0.141% 9.7 765 79 2300 2310 10/12/2018 28 1.673% 0.124% 13.5 937 69 721 721 10/17/2018 28 1.759% 0.028% 62.8 985 16 730 732 10/17/2018 28 1.347% 0.026% 51.8 754 15 420 1.671% 0.102% 16.4 14,072 858 All data presented in the table above are the result of the following mining, evaluation, and laboratory QA/QC procedures. Company personnel blast and remove the mineralized material from the mine, and transport it to an ore pad on the mine surfa...