NI 43-101 Technical Report — Duck Creek Uranium Project
Converse County, Wyoming · Southern Powder River Basin
Report Overview
WWC Engineering was retained by Noble Plains Uranium Corp. and UNXE238 Corp. to prepare an updated NI 43-101 Technical Report establishing a classified mineral resource estimate for the Duck Creek Uranium Project.
The Project is in the Powder River Basin, approximately 40 miles northeast of Casper, Wyoming. Mineralization is typical Wyoming roll-front uranium in sandstones of the Eocene Wasatch Formation, at depths from under 50 ft to over 500 ft.
More than 3,500 holes have been drilled on the Project, 1,492 of them with usable coordinates, grade, thickness and depth data. In 2025, Noble Plains drilled 148 holes whose results validated the historical Kerr-McGee data for grade, thickness and continuity, which was sufficient to classify a mineral resource.
Duck Creek Mineral Resource Estimate
Resources are reported as of February 12, 2026, in the shallow Wasatch Formation, using a 0.02% eU3O8 grade cutoff, 1 ft thickness cutoff and 0.20 GT cutoff.
| Resource Classification | Average Grade (% eU3O8) | Average GT | Ore Tons (000s) | U3O8 (Mlbs) |
|---|---|---|---|---|
| Indicated | 0.062 | 0.78 | 4,290 | 5.32 |
| Inferred | 0.093 | 1.16 | 839 | 1.04 |
% eU3O8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium. All reported resources occur below the static water table. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Point of reference is in-situ at the Project.
Exploration Target
A conceptual exploration target is estimated to range from 941,000 tons at 0.020% eU3O8 to 1,021,000 tons at 0.052% eU3O8. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the target being delineated as one.
Key Risks Identified by the Qualified Person
- Surface access: oil & gas infrastructure such as horizontal well pads and pipelines could limit surface accessibility for mining.
- Historical mines: several shallow open-pit uranium mines were operated and since reclaimed. Their dimensions and mined tonnage are difficult to verify independently.
- Historical data: intercept data come from data sheets and historical maps, with no historical geophysical logs. The 2025 drilling validated the data, but some uncertainty remains.
- Depth of mineralization: average intercept depth is 111 ft, so hydraulic pressure may be insufficient for typical ISR methods and mining costs may be higher.
- Exploration target: based on historical data and assumptions. No assurance it will be delineated as a mineral resource.
- Uranium market: uranium does not trade on an open market, and price changes can significantly affect project outcomes.
- Recovery: the most significant risks relate to the success of the wellfield operation and recovery of uranium from the targeted host sands.
Recommended Work Program
In the QP's opinion, the Project is sufficient to merit the following program. Drilling costs are estimated at $30–$35 per foot including geophysical logging and reclamation. The plan can be completed in phases, with each next phase based on the data collected in the previous one.
Confirmation Drilling
About 20 holes (~260 ft each) to verify historical data and upgrade inferred areas in Sections 21 and 28 to indicated. Collect groundwater level data.
Bond & permits $60k–$75k
Fort Union Exploration
About 10 holes (~1,200 ft each) across all sections to test the deeper Fort Union Formation, host to uranium at adjacent properties.
Bond & permits $85k–$100k
Exploration Target Drilling
About 30 holes (~260 ft each), including Sections 3, 4, 9 and 10, to upgrade the exploration target toward an NI 43-101 compliant resource.
Bond & permits $75k–$90k
| Total recommended work plan | $970,000 – $1,140,000 |
Costs are reduced if programs are completed together, since bonding and permitting would be shared.
Potentially Viable and Meriting Further Evaluation
Based on drilling density, continuity of geology and mineralization, and data verification, the mineral resource estimates meet the criteria for Indicated and Inferred resources under NI 43-101. The QP found the Project to be potentially viable and meriting further evaluation and development.
What's in the Full Report
- 1.0 Summaryp.1
- 2.0 Introductionp.4
- 4.0 Property Description and Locationp.7
- 5.0 Accessibility, Climate & Infrastructurep.11
- 6.0 Historyp.14
- 7.0 Geological Setting and Mineralizationp.17
- 8.0 Deposit Typesp.23
- 9.0 Explorationp.25
- 10.0 Drillingp.29
- 12.0 Data Verificationp.32
- 14.0 Mineral Resource Estimatep.34
- 23.0 Adjacent Propertiesp.43
- 25.0 Interpretation and Conclusionsp.46
- 26.0 Recommendationsp.48
- 27.0 Referencesp.49
- 28.0 Certificate of Qualified Personp.51
Read the Complete Technical Report
Download the full NI 43-101 Technical Report for the Duck Creek Uranium Project, prepared by WWC Engineering.
Download Report (PDF)Disclaimer: This page summarizes the NI 43-101 Technical Report and includes forward-looking statements reflecting the current expectations of UNXE238 Corp. These are subject to known and unknown risks and uncertainties, including market volatility, regulatory approvals, exploration results and operational risks. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the full report for complete details and qualifications.