SIERRA CUADRADA – ARGENTINA

Significant historical uranium mining and exploration in area

  • The Argentine National Atomic Energy Commission (CNEA) explored for uranium across Argentina from the mid 1950-80’s resulting in 8 mines being developed
  • In the Chubut Province radiometric and EM surveys identified two large Cretaceous paleochannels in the San Jorge Basin which extend for over 500km N-S and 30-60km E-W
  • This early exploration was very successful with numerous uranium occurrences and deposits being discovered in the sandstone outcrop
  • Three uranium deposits were delineated, two of which were developed
    1. Cerro Condor – open pit mine – outcropping  – 6000 ppm U3O8
    2. Los Adobes – open pit mine – outcropping – 1400 ppm U3O8, and
    3. Cerro Solo – depth 50-130m – 10mlb est. – 4000 ppm U3O8
  • Sierra Cuadrada Project covers 1303 km2 and is located 200km north of Comodoro Rivadavia in the San Jorge Basin Cretaceous paleochannel system
  • Extensive areas of flat lying, visible uranium with some assays >3000ppm U3O8 (6.6 lbs. U3O8 per tonne)
  • The mineralisation occurs at varying stratigraphic levels – potential for repetitions at depth
  • Potential for one or more continuous zones of U3O8 up to 30km wide and 40km long
  • Mineralisation is open along strike northwest and southeast and downdip
  • Can be delineated by trenching and shallow drilling, in short time frames and at very low cost
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The Sierra Cuadrada Project has significant potential to host economic uranium deposits
  • 2023 rock chip and mapping program – uncut average grade of 2,579 ppm U3O8 (5.67lbs per tonne)
  • Ongoing activities include:
  • Drilling 50km of road reserve SE-NW across mineral concessions
  • Project wide auger drilling followed by trenching aimed at an initial mineral resource estimate on 5km x 5km blocks
  • Ongoing geological mapping and geochemistry
  • Acquisition of additional mineral tenements along strike of mineralisation
  • Shallow auger drilling ongoing with trenching to follow
U308 av ppm   2579 3194 3707 4254
samples   92 74 63 54
cutoff   0 150 g/t U 300 g/t U 450 g/t U
lbs. U308/tonne   5.67 7.03 8.16 9.36
USD contract price/lb 70.00 $396.90/t $492.10/t $571.20/t $655.20/t