|From: LoneClone||6/17/2019 8:37:19 PM|
| Blue Sky sees first-mover advantage in Argentina uranium, vanadium market |
14th June 2019
By: Nadine James
Creamer Media Writer
TSX-listed Blue Sky Uranium CEO Niko Cacos tells Mining Weekly Online the uranium market is in the early stages of a longer-term rising price trend.
Blue Sky, which owns the Amarillo Grande uranium/vanadium project (AGP), in Rio Negro, Argentina, expects to take advantage as uranium prices continue to recover from the impact of the 2011 Fukushima Daiichi nuclear power plant disaster.
Improvements in technology and safety following the 2011 accident and shutdown, combined with the need for greener baseload energy, have resulted in renewed interest in, and construction of, nuclear power plants, the company says.
Cacos says the company has noted a steady rise in uranium prices in the last year to year-and-a-half, with more countries adopting nuclear energy as a way to generate safe, secure and efficient electricity.
The AGP has a resource of about 22.7-million pounds of uranium and 28-million pounds of vanadium, and Cacos expects Blue Sky to have a significant first-mover advantage as Argentina has a “reasonably well-developed” nuclear energy sector, but does not produce uranium.
“ Argentina has three nuclear reactors that are active and producing. There’s another one under construction and there are more in the planning stage . . . domestic law mandates that any domestic production of uranium has preference. . . the plants would be required to [buy uranium] from a domestic source and right now there is no other domestic source.”
Cacos notes that the project’s shallow mineralisation, which occurs within 25 m of the surface, will allow for “extremely cost effective” extraction.
Security of uranium supply was elevated into the global consciousness last week, following a Bloomberg report that the US was reviewing a petition by US-based uranium companies that were requesting that a quarter of US demand be filled by domestic supply.
The US Commerce Department had also released a report last week after Chinese officials suggested rare earths and other critical minerals could be used as leverage in the ongoing US- China trade war.
Cacos notes that the US consumes 25% to 30% of global uranium. “I can understand that when that significant a portion of your electricity supply is dependent on imports, it presents a risk.”
He comments that the US “did the same thing with oil and gas,” prioritising its local industry and increasing fracking to reduce the reliance on imports. However, he believes that if the US chooses to prioritise domestic uranium production, it will only boost prices.
“The domestic market in the US will pay whatever they need to pay to buy domestic uranium and that will, in a way, limit supply available on the global market and I think we’ll begin to see rising prices in the overall market."
Meanwhile, the AGP also has a substantial vanadium resource which may also provide Blue Sky with a first-mover advantage.
“Interestingly, in Argentina, there’s a huge need for vanadium,” Cacos notes, explaining that it is primarily used as a steel hardener and that Argentina’s burgeoning oil and gas industry and its subsequent steel demand, presents a considerable market opportunity.
Moreover, he explains that vanadium prices have also been increasing, following China’s mandate to increase vanadium use in its steel manufacturing sector.
Cacos points out that Blue Sky last month launched an expanded exploration programme on the AGP.
The programme is expected to last about six months, with the company expecting to begin the permitting and engineering processes in late 2019 or early 2020.
“We have a uranium deposit at Ivana which has a resource of about 11-million pounds and this is over a 3 km by 3 km area . . . our property package covers an entire district, which has a strike length of about 145 km long and 50 km wide. . .
“The work that we’ve done over the last few years shows that there are uranium occurrences throughout the entire district,” he comments, adding that he expects to see the AGP grow into one of the largest uranium districts in the world.
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|From: LoneClone||6/19/2019 11:49:07 AM|
| Virginia uranium-mining ban upheld by US Supreme Court |
17th June 2019
WASHINGTON – The US Supreme Court upheld a Virginia law that bans mining at the nation’s largest known uranium deposit, rejecting a challenge pressed by the owners of the property with help from the Trump administration.
Voting 6-3, the justices said Virginia’s uranium- mining ban is in accord with a 1954 federal law that gives the US Nuclear Regulatory Commission power over atomic safety. The majority said the 1954 law didn’t affect the longstanding power of states to regulate mining.
“Every indication in the law before us suggests that Congress elected to leave mining regulation on private land to the states and grant the NRC regulatory authority only after uranium is removed from the Earth,” Justice Neil Gorsuch wrote in the court’s lead opinion.
The landowners contended the state’s law, though phrased as a ban on mining, was actually driven by radiological safety concerns over the process of milling the ore and the disposition of mine waste known as tailings.
Gorsuch said the court should be hesitant to scrutinize the reasons behind a state measure, saying that would “require serious intrusions into state legislative processes.”
OWNED BY JEFFERSON
That aspect of his opinion drew objections from three members of the majority -- Justices Ruth Bader Ginsburg, Sonia Sotomayor and Elena Kagan. Ginsburg said in a separate opinion for that group that Gorsuch’s discussion “sweeps well beyond the confines of this case, and therefore seems to me inappropriate in an opinion speaking for the court, rather than for individual members of the court.”
Only Justices Clarence Thomas and Brett Kavanaugh joined Gorsuch’s opinion. Chief Justice John Roberts and Justices Stephen Breyer and Samuel Alito dissented.
The property, about 30 miles north of the North Carolina border in Pittsylvania County, was once owned by Thomas Jefferson. It’s now controlled by Virginia Energy Resources Inc. and the family of Walter Coles Sr. The Coles family first learned there might be uranium on the property in the 1970s.
The site contains an estimated 119-million pounds of uranium. Once valued at $6 billion, the deposit could displace the imports that now constitute 90% of the uranium used by the nation’s nuclear power plants.
Virginia first banned uranium mining in 1982 following the Three Mile Island nuclear power station partial meltdown near Harrisburg, Pennsylvania, three years earlier.
The case is Virginia Uranium v. Warren, 16-1275.
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|From: LoneClone||6/22/2019 9:41:14 PM|
|Appia Identifies 900 Meter-Long Uranium Mineralization Trend on the Loranger Property|
NewsfileJune 18, 2019
Toronto, Ontario--(Newsfile Corp. - June 18, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") is pleased to report the assay results from the completed diamond drill program (the "Program") on the Loranger property (the "Property"). The Property is located 28 km southeast of Cameco's Rabbit Lake mill, Athabasca Basin, northern Saskatchewan.
Highlights of the winter drilling include 3.15 m of 0.032 wt% U3O8 at 96.75 m drill hole depth in hole LOR-19-03 and 0.7 m grading 0.066 wt% U3O8 at 105.5 m drill hole depth in hole LOR-19-02. U3O8 assay results for the drill holes are presented in Table 1. A total of 1,063 metres was completed in eight drill holes covering three target areas (Figure 1).
Mr. James Sykes, Appia's Vice-President, Exploration and Development, comments: "We are pleased with the drill results. First, we've confirmed uranium mineralization in two target areas, and especially the drill holes within Target Area 2 (LOR-19-01 to LOR-19-04A), a 900 m long area, all intersected uranium mineralization. Second, we observed uranium "depletion" associated with a massive hydrothermal fluid fault network system encountered in Target Area 1 (LOR-19-07A and LOR-19-08), indicating uranium has been mobilized and potentially "re-deposited" somewhere along the structural trends. Third, the uranium mineralization drill hole assay results mostly correlate with hydrothermal alteration styles and re-mobilized ductile/brittle structural zones encountered in both target areas. In particular, we observe redox fronts (hematite +/- limonite with bleaching) showing elemental ratios (Up/Ut, Tht/Ut, Pb206/Pb204) typical of uranium fluid pathways. Fourth, boron (a uranium pathfinder element) is commonly elevated (i.e. >100 ppm and at least more than twice the background) in the re-mobilized graphitic/carbonaceous material ductile/brittle structural zones, with drill hole LOR-19-08 exhibiting the highest concentrations of boron (121 to 263 ppm B)."
Together with the 2017 program, the Company has tested only 5 of the 22 previously identified gravity low targets and covered only 2.3 km of the 94.0 total km of conductive strike length; with a cumulative total of 15 drill holes and 2,524 total metres drilled. The Company plans to continue exploring the Property with diamond drilling, ground gravity geophysics, and ground radiometric prospecting in combination with geological mapping.
Split core samples were taken over 0.1 to 1.2 m core lengths covering scintillometer readings, hydrothermal alteration and ductile/brittle structures. All the drill core samples were shipped from the project site and hand-delivered to the Saskatchewan Research Council's ("SRC") Geoanalytical Laboratory in Saskatoon, SK.
Geochemical assay results were provided by SRC's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for multi-element analysis using the ICPMS and Boron Lab Packages. All reported values were provided from SRC as U ppm and were converted to U3O8 wt% by Appia using a conversion factor of 1.1792/10000.
All geochemical results reported herein have passed rigorous internal QAQC review and compilation. The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, and a Qualified Person as defined by National Instrument 43-101.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 61,364 hectares (151,633 acres) in Saskatchewan.
The Company also has a 100% interest in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.
Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia has 65.0 million common shares outstanding, 86.2 million shares fully diluted.
Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) email@example.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
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|TABLE 1: LORANGER PROJECT - WINTER 2019 DRILL HOLE U3O8 ASSAY RESULTS |
|DDH ||Target Area ||Az.* ||Dip ||EOH* (m) ||From (m) ||To (m) ||Interval (m) ||Vertical Depth (m) ||U3O8 (wt%) |
|LOR-19-01 ||2 ||320 ||-60 ||141.0 ||55.15 ||55.30 ||0.15 ||48.16 ||0.011 |
| || || || || ||59.50 ||59.75 ||0.25 ||51.84 ||0.012 |
| || || || || ||Composite Total || ||0.40 || ||0.012 |
|LOR-19-02 ||2 ||320 ||-60 ||123.0 ||87.90 ||88.55 ||0.65 ||77.15 ||0.037 |
| || || || || ||105.50 ||106.20 ||0.70 ||92.58 ||0.066 |
| || || || || ||115.50 ||115.85 ||0.35 ||101.54 ||0.023 |
| || || || || ||Composite Total || ||1.70 || ||0.046 |
|LOR-19-03 ||2 ||330 ||-60 ||159.0 ||82.45 ||82.65 ||0.20 ||71.58 ||0.014 |
| || || || || ||96.75 ||99.90 ||3.15 ||84.30 ||0.032 |
| || || || || ||102.95 ||104.05 ||1.10 ||89.30 ||0.040 |
| || || || || ||108.60 ||109.05 ||0.45 ||94.30 ||0.085 |
| || || || || ||Composite Total || ||4.90 || ||0.038 |
|LOR-19-04 ||2 ||320 ||-60 ||21.0 ||Hole abandoned in overburden, restarted as LOR-19-04A |
|LOR-19-04A ||2 ||320 ||-60 ||90.3 ||63.20 ||63.40 ||0.20 ||54.48 ||0.017 |
| || || || || ||72.70 ||73.00 ||0.30 ||62.55 ||0.010 |
| || || || || ||78.95 ||79.05 ||0.10 ||67.87 ||0.012 |
| || || || || ||80.20 ||80.30 ||0.10 ||68.97 ||0.028 |
| || || || || ||83.45 ||83.80 ||0.35 ||71.45 ||0.012 |
| || || || || ||85.45 ||85.55 ||0.10 ||73.37 ||0.017 |
| || || || || ||Composite Total || ||1.15 || ||0.014 |
|LOR-19-05 ||3 ||160 ||-60 ||58.3 ||Hole abandoned in overburden, not restarted |
|LOR-19-06 ||3 ||0 ||-90 ||140.6 ||No significant results |
|LOR-19-07 ||1 ||170 ||-60 ||15.0 ||Hole abandoned in overburden, restarted as LOR-19-07 |
|LOR-19-07A ||1 ||170 ||-60 ||131.8 ||No significant results |
|LOR-19-08 ||1 ||230 ||-45 ||183.0 ||133.25 ||133.50 ||0.25 ||91.99 ||0.011 |
| || || || || ||148.85 ||150.00 ||1.15 ||103.04 ||0.020 |
| || || || || ||Composite Total || ||1.40 || ||0.018 |
|Cut-off grade = 0.01% U3O8 || || || || || || || |
|Maximum consecutive internal dilution = 2.0 m down hole || || || |
|True widths have yet to be determined || || || || || || |
|All Uranium (ppm) results received by SRC from the ICP-MS Total Digestion lab package were converted to U3O8 (wt%) using a conversion factor of (x1.1792/10000) |
|* "Az." Refers to "drill hole azimuth" and "EOH" refers to "end of drill hole" || |
To view the source version of this press release, please visit newsfilecorp.com
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