Cigar Lake, the world’s richest uranium deposit, well is on its way to becoming the world’s largest and richest uranium mine, after the announcement that a $50-million underground exploration and test program has been proposed by the Cigar Lake Mining Corp (CLMC), the 100% owner of the Saskatchewan property.
Located in northern Saskatchewan’s prolific Athabasca Basin approximately 400 miles northeast of Saskatoon, the Cigar Lake deposit hosts reserves of 385 million lb of U03 1/23alt+d03 1/2O03 1/2803 1/2. The main pod, holding geological reserves of 285 million lb, grades 14% U03 1/23alt+d03 1/2O03 1/2803 1/2 — more than 140 times the average grade of most U.S. uranium deposits. Some sections of the deposit grade a spectacular 20%-60%, the company says. An additional inferred reserve of 100 million lb grades 5% U03 1/23alt+d03 1/2O03 1/2803 1/2.
“We expect to take 8-12 months to get environmental approval for this project,” George Peebles, general manager of CLMC, explained to The Northern Miner. The project will include the sinking of a 1,600-ft shaft and underground development on two levels; one above and another below the orebody. “The schedule for the test mining is tied to a production startup scheduled for the 1990s,” Mr Peebles adds. The schedule calls for site preparation starting in 1987, shaft completion by 1988 and completion of the underground testing by 1989-1990, the company reports.
“To date, our efforts have been directed at establishing what the environment is like there ( at and around the deposit),” Mr Peebles says. “These studies have reached the stage where we have to go underground.” Since 1983, the company has completed a series of engineering and geological studies which provided geotechnical and environmental information about the deposit.
Mr Peebles notes that other factors, in addition to that of high grades, make the deposit unique. These include ground control problems due to excessive clay content around the deposit and potential ground water problems.
CLMC is owned by a consortium of partners including Saskatchewan Mining Development Corp (50.75%), Cogema Canada Ltd. (32.62%), Idemitsu Uranium Exploration Canada (12.87%) and Corona Grande Exploration Corp (3.75%).
The largest uranium mine in the world is at Key Lake, 70 miles southwest of the Cigar Lake site.
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