Western Uranium Completes Resource Estimate on Sunday Mine Complex Uranium Property

Western Uranium Corporation (CSE:WUC) announced that it has completed a resource estimate under a technical report on the Sunday Mine Complex uranium property.
As quoted in the press release:

The Sunday Mine Complex (“SMC”) property consists of approximately 233 contiguous unpatented mining claims that covers about 3,748 acres (1,517 ha) located within the southern third of the prolific Uravan Mineral Belt. The SMC has been in operation for many years since the mid 1950’s, and most recently between 2007 – 2009. Historic production is estimated to be between about 1,870,000 pounds to 5,000,000 pounds of uranium depending on the source or sources. Complete production records are not available. Figures 4.1, 4.2, and 4.3 shows the property position at different scales as well as a view of the SMC from within Big Gypsum Valley.

Highlights:

• Measured and Indicated 1,007,830 lbs U3O8 and 6,047,000 lbs V2O5.
• Potential to host in excess of 3,000,000 lbs of uranium-vanadium resources with characteristics suitable for underground mining.

George Glasier, president and CEO of Western Uranium, commented:

We are pleased to have completed the initial Technical Report on our Sunday Mine Complex in accordance with NI 43-101 standards, which adds over 1 million pounds of resources to our existing 4,877,475 million measured and indicated pounds for a total of 5,875,305 pounds U3O8. What is particularly encouraging is uranium grades of .36% U3O8 contained within the Sunday Mine Complex.
The addition of over 6,000,000 pounds of V2O5 in the measured and indicated category in the Report increases contained vanadium pounds to over 19,992,980 pounds of V2O5. This co-credit will help reduce cash costs when the Sunday Complex begins production.
The Sunday Mine complex is fully permitted and we expect production to begin in 2016 in accordance with the Company’s strategy to become the next near-term producer in the historic Uravan Mineral Belt of Colorado. Initially, milling will take place at the Energy Fuels Inc. (‘EFI’) White Mesa Mill under the Company’s tolling agreement with EFI.’ As recommended in the Technical Report, additional drilling and review of additional historic data which we believe could further increase the resource of the Sunday Mine Complex. However, insufficient drilling and review of historic data has been completed to date.

Click here to read the full Western Uranium Corporation (CSE:WUC) press release.