The project is 60% owned by Moab Minerals and contains many historic uranium mines including, Blackfoot/Rattlesnake, Wedge, Merry Widow, Sunbeam and Vanadium King that have not been subject to exploration since the 1970’s, other than initial sampling by MOM.
256 contiguous BLM mining claims (~5,000 acres which is 20km2).
Located ~130 km east of the town of Moab.
The region is famous for the nearby Mi Vida uranium mine discovered in 1952 by Charlie Steen – the Mt Vida district produced 22,000 tonnes of U308 to 19651.
Within trucking distance of the White Mesa Mill, the only operating conventional uranium-vanadium mill in the US that has 90% spare capacity available to toll treat mined ore.
1 – Hiram B Wood (1969) Geology and Exploitation of Uranium Deposits in the Lisbon Valley Area, Utah in Ore Deposits of United States 1933 – 1967, Vol-1.
High Grade Uranium & Vanadium
Sample results with strongly anomalous uranium and vanadium up to 0.53% U3O8 and 3.32% V2O5 announced December 2021 1.
Initial sampling program returned high grade uranium and vanadium results, 12 samples recorded an average grade of 2,246ppm U3O8 (0.22%) with a peak value of 5,280ppm U3O8 (0.53%) returned 2.
Sampling of surface outcrops and selected
underground workings has identified visible
Exploration is ongoing with mapping and sampling programs planned to establish the extent of the mineralisation and extrapolate trends into areas suitable for drill testing .
1 – ASX Announcement – Strong Uranium-Vanadium Results from REX Project (20 December 2021)
2 – ASX Announcement – Initial results from REX project highlights high-grade uranium-vanadium potential (22 July 2020)
The Famed Uravan Mineral Belt
The Uravan Mineral Belt lies in southwestern Colorado and has been a major source of uranium and vanadium in the US for more than 100 years.
Mineralisation occurs in the sandstones of the Salt Wash Member of Morrison Formation within well-defined, sandstone filled paleo river channels which are several hundred metres wide and up to a few kilometres long.
In this belt the carnotite deposits generally have closer spacing, larger size, and higher grade.
Mines within the confines of the Uravan mineral belt account for 85% of the uranium that has been produced in the area.
Substantial potential exists to define significant uranium and vanadium mineralisation in areas where the prospective flat lying stratigraphy does not outcrop.
Most deposits in the belt have uranium/vanadium ratios ranging from 1 part uranium to 5 or 10 parts vanadium.