Energy Metals expands in Wyoming

Vancouver — Uranium hunter Energy Metals (EMC-V), previously Clan Resources, has acquired 29 advanced-stage projects in Wyoming.

The land package encompasses 50 sq. km. Among the areas included are Gas Hills, the Powder River Basin, the Shirley Basin, the Ketchum Buttes, and the Great Divide.

The properties were held by William Sheriff, to whom Energy Metals issued 1.5 million shares. Sheriff was already a major shareholder of Energy Metals, as well as president of its U.S. subsidiary.

The land package represents more than 12 million lbs. U3O8, as outlined by previous operators.

Wyoming produces more uranium than any other American state, almost all of it from in situ leaching, which is ideal for deposits with very low grades. Miners inject a leaching solution into wells, which dissolves some of the uranium mineralization in porous rock units, typically sandstones, then extract the charged solution for recovery of the metal.

Energy Metals recently closed a $3.6-million financing consisting of 2.2 million units at $1.60 apiece. Sprott Asset Management subscribed for 2 million units.