Energy Fuels Announces High-Grade Uranium Intercepts at Nichols Ranch

Energy Fuels( TSX:EFR) has announced that it has intercepted several large and high-grade area of mineralization in the next wellfield expected to go into production at its Nichols Ranch ISR Project.
As quoted in the press release:

On August 1, 2016, the Company began delineation drilling and the installation of the wellfield to be associated with Header House 9 at Nichols Ranch.  Currently, four rigs are being utilized to drill pilot holes, ream, case, and complete the injection and recovery wells for this wellfield.  Header House 9 is expected to begin producing uranium later in 2016. 

To date, a total of 52 holes in this new wellfield have been drilled.  Of the 52 holes, 46 have encountered mineralization which is above the grade % x thickness (“GT”) cut-off of 0.3.  This includes one hole which encountered 5.0 feet of mineralization with an average grade of 2.40% eU₃O₈.  In addition, many of the holes have encountered multiple intercepts above the GT cutoff.  It is anticipated that a total of 120 wells will be incorporated into Header House 9.

Click here to read the full press release.