Black Range Minerals has completed additional three diamond drill holes in the current drilling at the Hansen uranium deposit in Colorado, USA.
The company has exclusive rights to purchase the Hansen uranium deposit identified in 1977 and it was completely allowed for mining in 1981, before the fall of the worldwide uranium market.
Extensive work consisting of three feasibility studies and over 1,000 drill holes were executed between 1977 and 1981 and was reported that the deposit possess about 15-20 Mt of mineralization grading 0.06-0.08% U3O8 for approximately 30 M lbs of U3O8. At present, the company is completing the JORC Code compliant resource estimation for Hansen deposit. However, a mineral resource is to be decided under the JORC code for the deposit, this grade and quantity of mineralization is a drilling target and is presently conceptual in nature and it is unsure whether additional exploration will lead to the mineral resource determination.
Moreover, the company has a 100% interest in the Taylor Ranch uranium project, which is immediately contiguous to the north hosting JORC Code compliant inferred and indicated mineral resources of over 60 M lbs of U3O8.
The drilling program at the Hansen deposit is ongoing in order to purchase further metallurgical, geotechnical, geological and hydrological data so that the company can revise the significant feasibility studies.
The company has returned 0.175% eU3O8 over 3.7 m and 0.070% eU3O8 over 24.8 m, 0.103% eU3O8 over 2.7 m and 0.063% eU3O8 over 13.4 m from the electronic logging of holes HNDD0002 through HNDD0004.
In spite of these holes being mainly drilled for hydrological and geotechnical reasons, it authenticates that there is an occurrence of wide high-grade uranium mineralization at the Hansen deposit.
The present drilling program of 10-12 holes, totaling around 3,000 m will be carried out for the subsequent two months because it obtains further information to update the significant feasibility studies performed at the deposit.
The combined Hansen Uranium-Taylor Ranch Project is one of the main uranium projects in the USA.