Western Uranium & Vanadium supplies the Sunday mining complex
Toronto, Ontario and Nucla, Colorado, November 16, 2021 (GLOBE NEWSWIRE) – Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the “Company”) is pleased to provide the following update.
Mining operations at the Sunday Mine Complex (“SMC”) continue and are producing results far beyond expectations. Development of one of SMC’s multiple ore bodies, the GMG ore body, required the gallery (tunnel) extension of 150 feet to reach the first surface exploration drill hole. Notably, only limited exploration drilling has been completed in this area due to the mountainous surface terrain above.
In confirmation of the horizontal drill results announced last month, very high grade ore continues to be intersected across the drift path and on both sides of the drift. As a result, the team moved from development to mining. In just three working days, more than 300 tonnes of very high grade uranium / vanadium ore was mined from the gallery. Based on the scintillometer readings on site, we estimate the uranium U3O8 content to be 1.5% +. At current market prices, this mined ore has a uranium / vanadium ore value of approximately one million dollars ($ 1,000,000).
Additional ore mined during the development of the GMG ore body will be stored. After the development of this deposit, it is expected that substantial quantities of ore can be produced. When full mining operations begin, the overall grade of the uranium / vanadium ore is now expected to be significantly higher than expected and a multiple of historical grades of the ore in the Uravan Mineral Belt.
Development of the GMG orebody will continue through the remainder of the year until early 2022.
Av Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is a Colorado-based conventional uranium and vanadium mining company focused on the short-term, low-cost production of uranium and vanadium in the western United States, as well as the development and application of kinetic separation.
Caution regarding forward-looking information: Certain information contained in this press release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of this nature include statements relating to, or dependent on: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the schedule of planned activities; whether the Company can raise additional funds necessary to implement its plans; whether regulatory or similar requirements can be met to allow the planned activities; and more generally to the Company’s activity, and to the economic and political environment applicable to its operations, assets and projects. All of these forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the most recent MD&A of the Company, as well as its other documents filed at www.sec.gov and / or www.sedar.com, for a more detailed discussion of these risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that such statements are made as of the date hereof. Although the Company may do so, it does not undertake any obligation to update these forward-looking statements at any time, except to the extent and to the extent required by applicable laws and regulations.
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President and CEO
GMG Ore Body: High Quality Uranium