|From: LoneClone||6/7/2019 10:42:55 AM|
| US uranium miners see boost from Commerce report |
6th June 2019
WASHINGTON – Two uranium mining companies said on Wednesday they are "confident" that US President Donald Trump will implement limits on uranium imports after the Commerce Department recommended urgent steps to boost domestic production of a list of 35 "critical minerals" that included the nuclear fuel.
The White House is currently reviewing a petition lodged by the companies, Ur- Energy and Energy Fuels, that asks the president to require that at least a quarter of US uranium needs are filled by domestic supply, and requiring US federal power utilities and agencies to buy US uranium.
Trump is expected to decide on the petition by July.
"It’s clear that the administration recognizes that relying on imported uranium creates a strategic vulnerability for our economy, military and overall security," Paul Goranson, COO of Energy Fuels, and John Cash, vice president of regulatory affairs at Ur- Energy, said in a joint statement to Reuters. "We are confident that he will recognise the danger of imported uranium and use his authority to address this threat and protect US national security."
The Commerce Department's report on Tuesday came after Chinese officials suggested rare earths and other critical minerals could be used as leverage in the trade war between the world’s largest economic powers. The report was initially due for release late last year.
US reliance on foreign minerals has worried US officials since 2010, when China - a major global source of the minerals - embargoed exports to Japan during a diplomatic row.
Rare earth minerals are essential for the manufacture of mobile phones and a host of other consumer goods, as well as fighter jets. Uranium is mainly used by the nuclear power industry and for weapons.
Tuesday's Commerce report included 61 specific recommendations - including low-interest loans and “Buy American” requirements for defense companies - to boost domestic production of minerals.
The measures would throw a lifeline to the struggling domestic uranium mining industry, which in 2017 saw production fall to near historic lows. Current uranium prices are hovering in the mid-$20s/lb compared to highs over $140/lb in 2007.
But some Western Democratic lawmakers and environmental groups raised concerns on Wednesday that greenlighting measures to boost domestic production would put iconic Western landscapes and sacred tribal lands at risk.
The Commerce Department report recommended that both the Bureau of Land Management and the Forest Service review all areas that are currently “withdrawn” – or protected - from development and assess whether those restrictions should be lifted or reduced to allow for critical mineral development.
It also proposed altering how the Interior Department and its agencies review mining projects under the bedrock National Environmental Policy Act, urging expedited environmental studies and identifying minerals which can be excluded from environmental reviews.
US House Natural Resources Committee Chairman Raul Grijalva said at a hearing on Wednesday that such measures could open uranium-rich areas near Arizona's Grand Canyon. He urged Congress to pass his Grand Canyon Centennial Protection Act, which would put a permanent ban on new mining claims on one million acres north and south of the national park.
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|To: LoneClone who wrote (18191)||6/7/2019 10:45:54 AM|
| World’s top uranium producer is gloomy about nuclear power |
6th June 2019
NEW YORK – Don’t expect an upswing in the global uranium market anytime soon.
“In our models, we don’t get excited on the demand side,” said Galymzhan Pirmatov, CEO of Kazatomprom, Kazakhstan’s State-owned mining company that’s the world’s biggest supplier.
With construction of nuclear power plants at a ten-year low, uranium demand remains weak. That’s holding prices so low that mining companies have been wary of increasing production. Kazatomprom’s output will increase about 5% this year, to as much as 22 800 t, and then will be flat in 2020, Pirmatov said Wednesday in an interview in New York. While he hasn’t yet made a decision on 2021, he doesn’t see much to get excited about, at least in the short term.
“I do believe prices are too low,” he said. Uranium has slumped 15% this year to $24.35/lb. Kazakhstan controls about 40% of the world’s supply of the metal, and Kazatomprom accounts for half of that, making it the biggest producer.
There were 55 nuclear plants under construction in the first quarter, the lowest number in a decade, according to BloombergNEF. While China is booming, with 11 of those projects, developed countries remain wary. That’s partly due to lingering concern from the 2011 Fukushima nuclear catastrophe in Japan, and partly due to high costs, Pirmatov said.
Long-term prospects are better in developing nations, where access to electricity remains a key barrier to growth. Seven of the reactors under construction are in India.
In the US, flush with abundant and cheap natural gas, utilities are closing nuclear plants. The US is also considering whether to impose tariffs on uranium, after two small domestic mining companies filed a trade case last year, arguing that imports are a threat to national security. The Commerce Department concluded its investigation in April, but the results haven’t been made public.
Kazatomprom doesn’t think tariffs would aid the global industry, but Pirmatov doesn’t have a sense of what the Trump administration is planning.
“There’s no logic” to imposing trade barriers, he said. “Everyone is aware with this White House, you can’t predict.”
While the next few years may remain turbulent, Pirmatov said that increasing interest in carbon-free nuclear power is going to be a key driver for demand.
“He’s planning for the long term,” said Chris Gadomski, BNEF’s nuclear analyst. “There’s definitely long-term interest because of increased concern about climate.”
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|From: LoneClone||6/16/2019 11:16:47 PM|
|ALX Uranium Begins Exploration at Close Lake Uranium Project|
NewsfileJune 10, 2019
Vancouver, British Columbia--(Newsfile Corp. - June 10, 2019) - ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that a borehole enhanced 3D induced polarization/resistivity ("BHIP/Res") geophysical survey has been completed at the Close Lake Uranium Project ("Close Lake", or the "Project") located in the eastern Athabasca Basin area of northern Saskatchewan, Canada and situated between the two highest-grade uranium mines in the world. The BHIP/Res survey is a leading edge geophysical technique that ALX has adopted for uranium exploration in mineralized areas. Results gathered from a borehole survey at depth can provide a much clearer picture of the strike and character of local conductors and alteration haloes than that of a conventional ground geophysical survey.
Recent reconnaissance probing by ALX of drill holes in the southern part of the Project found that historical drill hole CL-90 along the C-1 East Trend was open to a depth of 512 metres, which provided an ideal scenario for a deep-penetrating BHIP/Res survey. Hole CL-90 was drilled in 1997 and intersected 0.34% U3O8 over 107.3 metres including 2.86% U3O8 over 8.5 metres and 2.00% U3O8 over 1.5 metres. Subsequent follow-up drilling in 1998 along strike of drill hole CL-90 encountered 0.28% U3O8 over 0.5 metres in hole CL-106 and 0.06% U3O8 over 3.5 metres in hole CL-109.
For the current survey, a geophysical crew laid out a three-line grid centred on hole CL-90 and collected data from surface as well as from depth by way of a metal current electrode that was lowered and raised down the drill hole. This new technique can provide a 3D image of zones of interest within the sub-surface to expected depths of over 1000 metres in the Close Lake geoelectrical environment with increased resolution within the vicinity of the drill hole, which could provide valuable information for future drill targeting. Results from the survey are being processed and modelled.
About Close Lake
ALX has signed a binding option agreement (the "Agreement") for Close Lake with Orano Canada Inc. ("Orano"), a subsidiary of Orano Group, France, a world leader in the nuclear marketplace, whereby ALX can earn up to a 51% participating interest in the Project (see ALX news release dated April 23, 2019). Orano, as operator, holds a 74.4004% interest in Close Lake with Cameco Corporation ("Cameco") (TSX: CCO) holding a 14.9849% interest, and JCU (Canada) Exploration Company Ltd. ("JCU") holding the remaining 10.6147% interest. The execution of the Agreement follows the non-binding Letter of Intent signed in February 2019 with Orano and confirms a five (5) year deal with ALX funding exploration expenditures for a total amount of $12.0 million and issuing 10,000,000 common shares of ALX to Orano.
Close Lake consists of 21 mineral claims totaling 38,679 hectares (95,578 acres). Numerous uranium and base metals showings have been discovered from historical drilling by a joint venture first established in 1978. The eastern boundary of the Project adjoins the Cigar Lake uranium mine property ("Cigar Lake") and its southern boundary adjoins the McArthur River uranium mine property. Two licensed uranium mills are located in the eastern Athabasca Basin area. Close Lake is accessible by winter trail from Cigar Lake and Points North Landing, each of which has all-weather road access and nearby infrastructure, including airports. Click here to view a map of the Project.
Historical drilling at Close Lake totals approximately 110,049 metres in 170 drill holes. Uranium mineralization has been intersected at or near the unconformity between the Athabasca sandstone and basement rock units, often graphitic, with associated base metals values and rare gold occurrences at downhole depths ranging between 463 metres and 682 metres.
The grades, widths and lithologies encountered in the drilling to date provide compelling evidence that Close Lake could host a mineralizing system similar to those previously found within the Wollaston Belt, which has produced over 900 million pounds of U3O8 during the past four decades.
NI 43-101 Disclosure
The technical information in this news release was reviewed and approved by Sierd Eriks, P. Geo., President and Chief Geologist of the Company, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Readers are cautioned that some of the technical information described in this news release is historical in nature; however, the information is deemed credible and was produced by professional geologists of the eras discussed. ALX further cautions investors it has reviewed but has not verified all of the historical Close Lake exploration data, and that mineralization located on adjacent properties by historical exploration may not be present at Close Lake.
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada, a superior mining jurisdiction. The Company executes well-designed exploration programs using the latest available technologies and has interests in over 200,000 hectares in Saskatchewan, a Province that hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates strong potential for economic base metals deposits. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". Technical reports are available on SEDAR at www.sedar.com for several of the Company's active properties.
For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: firstname.lastname@example.org
On Behalf of the Board of Directors of ALX Uranium Corp.
Warren Stanyer, CEO and Chairman
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include the Company's plans to undertake exploration activities at the Close Lake Project ("Close Lake"), and expend funds on Close Lake. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward looking statements. Risks and uncertainties include that ALX may not be able to fully finance our intended participation at Close Lake; our other mineral exploration projects in the Athabasca Basin may prove to be unworthy of further expenditure; and economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Three Months Ended March 31, 2019, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit newsfilecorp.com
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|From: LoneClone||6/17/2019 12:37:32 PM|
|Skyharbour/Azincourt Energy Initial Drilling Confirms East Preston Basement Prospectivity|
GlobeNewswire•June 17, 2019
VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce positive results from the Company’s recent phase one drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
The initial drill campaign has confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston are very similar and appear to be analogous to the Patterson Lake South-Arrow-Hook Lake/Spitfire uranium deposit host rocks and setting. A total of 552 meters of drilling was completed in three holes prior to the onset of spring break-up conditions that impacted the duration of the program. The rapid onset of spring required shifting from entirely overland-supported drilling to helicopter-supported drilling. All drill holes targeted multiple closely spaced discreet graphitic conductors with coincident gravity low anomalies often indicative of alteration or thicker overburden due to enhanced glacial scouring over altered, or structurally disrupted basement.
“We are certainly very pleased with the results of the first few holes, it’s an excellent start to initial drill testing at East Preston,” said president & CEO, Alex Klenman. “We have confirmed the project contains the appropriate environment – both geologically and geochemically – that is consistent with uranium mineralization in the area. That’s a significant confirmation, and to be able to determine this at the outset is very positive development. These are the right graphitic-rich host rocks and given we have just started drilling, we’re obviously optimistic about what’s ahead. We have dozens of high priority targets yet to drill, and thanks to recent substantial institutional support we are well funded to execute a much larger phase two program. Permitting is already underway, we have the cash, and we have the targets. Our timing looks good with sector developments as well. We’re excited to get more drills in the ground and will announce details of the upcoming phase two drill campaign in the coming weeks,” continued Mr. Klenman.
“We are highly encouraged with our first drill program results at East Preston,” said Ted O’Connor, Director and Technical Advisor for East Preston. “We have confirmed that we have prospective graphitic basement rocks and the right basement unconformity setting on the project. There are numerous conductor corridor system targets to test as we vector towards areas of structural disruption; all critical ingredients as we continue development of East Preston,” continued Mr. O’Connor.
The East Preston project lies immediately south of the interpreted southern edge of the Athabasca Basin, so no Athabasca sandstone was expected. Overburden thickness ranged from 15 to 33 m thick, and as expected, no Athabasca sandstone was intersected. Numerous untested graphitic conductive trends remain on the project for drill testing, and additional targets have been generated from the recent VTEM survey that now covers the entire East Preston project lands.
The basement rocks intersected comprised amphibolite-grade (high-grade) metamorphic pelitic/mafic to pssamopelitic/felsic gneisses and schists with pegmatitic partial melt segregations. Numerous intervals of blue quartz ‘units’ interpreted as either amphibolite-grade orthoquartzite, or silica-flooded, altered gneissic precursors were also intersected. The gneissic rocks often become highly strained displaying mylonitic to proto-mylonitic textures.
All drill holes intersected at least two intervals of graphitic pelitic gneiss/schist, sufficiently explaining the HLEM and VTEM conductors targeted. In drill holes EP19001 and EP19002, the graphitic rocks intersected were primarily stratigraphic with little associated structural disruption. Drill hole EP19003 intersected moderate to strong structural upgrading within the upper graphitic-pyritic unit encountered. Anomalous radioactivity was observed immediately in the hanging wall upper contact of this graphitic fault interval associated with partial melt pegmatite.
A photo accompanying this announcement is available at globenewswire.com
Downhole probe results showed anomalous radioactivity predominantly attributed to thorium related to observed partial melt pegmatitic granite intervals in drill core. Drill core samples collected were submitted to SRC Geoanalytical Laboratories in Saskatoon for ICP-MS Total Digest, ICP-MS Partial digest, Boron by fusion and Gold fire assay chemical analysis. Trace element geochemistry shows anomalous results for basement-hosted unconformity uranium deposit pathfinders Ni, Co, Cu, Zn and As associated with graphitic schist intervals. Graphitic rocks hosting uranium mineralization are often associated with Ni-Co-As; Cu and Zn sulphides in anomalous, to substantial quantities. The presence of these pathfinder elements adds additional information and will enhance vectoring towards the most prospective areas of the conductor systems.
Drill Hole Analysis
EP19001 (Pad B, 094/-45°): PAD B on L2400 targets the confluence of north- and northeast-trending conductors (prospective structure) with a coincident gravity anomaly (potential alteration), and a positive airborne radiometric anomaly (a potential mineralization indicator).
This hole successfully intersected graphite-rich intermediate-mafic (semipelitic?) gneiss and schist units between 105-145m (5-10% graphite), and 157.2-181.9m (2-5% graphite). Both intervals are sandwiched between granitic to granodioritic orthogneiss. Lithology variations and graphite content are significant enough to explain the geophysical conductor targets at this location. Overall alteration intensity is considered low to moderate. Radiometric anomalies are limited to biotite-rich fractures +-blue quartz or pods within pegmatitic granite subunits. The targeted hole successfully intersected graphite-laden structures/lithologies that are similar in character to host lithologies along the Patterson Lake trend.
EP19002 (Pad E, 105/-45°): PAD E on L1200 targets a flexure in the HLEM conductor trend and two down hole northwest dipping Maxwell Planes. This site is located 1.5km southwest and on-strike of hole EP19002.
Near identical sequence of lithologies as in hole EP19001 with intercepts averaging 40m higher in the hole. Radiometric anomalies are limited to biotite-rich fractures +-blue quartz or pods within pegmatitic granite subunits. Overall more carbonate and less garnet than EP19001. Two graphite rich bands correlate well with projected geophysical conductor traces.
Hole EP19003 (Pad KB, 120/-45°): PAD KB on M600 targets a flexure in a strong VTEM conductor trend. This site is located 1.0 km north of hole EP19001, along a second parallel conductor feature.
This hole intersected graphitic conductive lithologies significantly earlier than the predicted Maxwell-plate predicted depth of 155m, but in league with VTEM predicted conductor traces. Overall lithologic sequence is similar to holes 1 and 2, but overall graphitic content is higher in this hole. Garnet metamorphic overprint is high with low carbonate alteration. Pyrite content is also significantly elevated in the 54-61.5m interval. The highest count of 368 cps occurs at 50.5m depth in a pegmatitic granite immediately adjacent to the first graphitic fault gouge.
A photo accompanying this announcement is available at globenewswire.com
About East Preston
Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources ( SYH.V), and Clean Commodities Corp ( CLE.V). Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.
The Company completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor.
Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.
The Main Grid shows multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.
The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
Quality Assurance, Quality Control and Data Verification
Drill core samples were interval grab samples of interesting lithologies from 0.7m to 2 m in length, split in half longitudinally, with one-half of the core retained, and the other half placed in sealed bags and shipped to SRC Geoanalytical Laboratories (SRC) in Saskatoon, SK for sample preparation, processing and ICP-MS multi-element analysis using Total and Partial digestion, gold by fire assay and boron by fusion. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. The Company’s Qualified Person for the drill program, Mr. Ted O’Connor, has verified the data disclosed, including drilling, sampling and analytical data. The program is designed to include analytical quality assurance and control routines comprising the systematic use of standards, blanks and duplicate samples.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Ted O’Connor, P.Geo. a director of the Company, as well as a qualified person.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
Alex Klenman, President & CEO
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
For further information please contact:
Alex Klenman, President & CEO
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
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