|Western Uranium & Vanadium’s Sunday Mine Complex Vanadium Project Update|
GlobeNewswire•May 14, 2019
TORONTO and NUCLA, Colo., May 14, 2019 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE:WUC) ( WSTRF) (“Western” or ”Company”) updates the status of the Sunday Mine Complex (the “SMC”) Vanadium Project (the “Project”). Funding for the Project was completed in April and Project planning has been ongoing. The SMC is comprised of five individual permitted and developed mines in Western Colorado.
Western now has assembled the personnel and resources to open the Sunday Mine Complex. Historic geological and mining data, as well as mine maps from past operations are being studied, while the team completes final ventilation requirements. Western will start the Project at two mines - the Sunday Mine and the St. Jude Mine. The first underground work is expected to commence in June.
After mine opening, vanadium ore samples will be delivered to vanadium processors and users around the world. The focus of the current Project is to define the high-grade vanadium deposit. Underground drilling, in addition to bulk sampling, will be used to determine the vanadium resource. Historically, the SMC yielded a 6-to-1 vanadium-to-uranium ratio.
To oversee the Project, Dr. Kaiwen Wu has been added to the Western team as Chief Geologist. Dr. Wu is a preeminent expert on conventional sandstone hosted vanadium/uranium deposits with extensive experience in the Colorado/Utah Mineral Belt. Notably, Dr. Wu previously completed an in-house geological evaluation of the Sunday Mine Complex. Formerly, Dr. Wu spent a decade working for Energy Fuels in a Senior Exploration Geologist capacity where he oversaw uranium and vanadium exploration, geologic data compilation and evaluation, and the resource estimate and technical reporting process. Dr. Wu received his Ph.D. in Geological Science from the University of Texas at El Paso under a doctoral program involving extensive geologic mapping and culminating in a dissertation on the Proterozoic tectonic evolution of Colorado’s Needle Mountains.
As Western continues to advance the Project, additional milestones and updates will be provided to shareholders and investors.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of ablation mining technology.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
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