Disclaimer
This press release includes forward-looking statements within the meaning of applicable securities laws, reflecting the current expectations of UNXE238 Corp. with respect to its Projects and the uranium market. These statements may involve, but are not limited to, forecasts, resource estimates, development timelines, and strategic plans, and are identified by terms such as “expects,” “plans,” “anticipates,” “estimates,” or similar language. Such statements are inherently subject to known and unknown risks, uncertainties, and assumptions, including but not limited to market volatility, regulatory approvals, exploration results, and operational risks.
UNXE238 Corp is pleased to announce that it has contracted WWC Engineering (WWC) to prepare a comprehensive technical prognosis (this prognosis is the part of a much detailed NI43-101 at a later date) of its Duck Creek Uranium Project. The Project is located in the Southern Powder River Basin Uranium Mining District. The Project consists of four State of Wyoming leases and unpatent claims on BLM land held by UNXE238 covering approximately 3,925 acres. The Project consists of part of sections 2,3,4,9 (unpatented claims), sections 15, 16, 21, and 28(State leases) of T37N, R73W.
The project area was previously explored by the Kerr-McGee Corporation (Kerr-McGee) in 1970’s who completed 3,508 drill holes in the Wasatch Formation in support of open pit mining. The historical drilling has provided valuable insights into the mineralization of the region, with data from 1,492 drill holes and a total of 23,136 uranium intercepts used to estimate metal quantities.
WWC’s technical prognosis (interim NI 43-101) provides an updated view of the project’s potential, presenting metal quantities in a range with upper and lower bounds (i.e., Mlbs U3O8). The exploration target for the Project is estimated to range from 1.4 to 4.2 million lbs of U3O8.
This information is summarized in the technical report provided in Table 1.
Table 1 : Estimated Uranium Resources in Wasatch Formation
The project is positioned in the historic prolific uranium rich region with the Allemand-Ross Project owned by Uranium Energy Corp. (UEC) and the Reynolds Ranch Satellite to Cameco’s Smith Ranch-Highland Mine are adjacent to the Project. Table 2 summarizes publicly available resource data from these projects.
Table 2 : Surrounding deposits
“The historical data, combined with this new technical prognosis by WWC Engineering, suggests that Duck Creek has substantial upside potential,” said Dr. Mahar, Chairman of UNXE238 Corp. “In addition to our Shallow 1.4-4.2 million lbs hosted in Wasatch Formation, proximity to operating in-situ uranium mines in the deeper Fort Union Formation, indicates significant opportunities to test deeper, thicker, mineralized sandstones of Fort Union Formation underneath our project.
Significant upside potential
Based on the quality of the historical data, WWC finds that the project merits additional exploration and analysis. Since the historical drilling was focused on shallow mineralization in the Wasatch Formation that could be surface mined, the average depth of the drill holes is 258 ft. Of the 15 drill holes that were drilled to 500 ft or deeper The Fort Union Formation underlies the Wasatch Formation and contains significant quantities of uranium in the Southern PRB and the adjacent Reynolds Ranch project targets mineralization in the Fort Union Formation. Given the shallow historical exploration along with presence of nearby ISR mines that target the Fort Union Formation, significant upside potential exists for the Project and could be identified through additional exploration drilling and logging, and trend mapping at the Project.
The Duck Creek uranium project’s location in the Powder River basin, a known uranium-rich region, positions UNXE238 to take advantage of emerging market opportunities. With continued exploration and development, the project is expected to play a vital role in the Company’s portfolio and contribute to the growing demand for uranium resources in the energy sector.
UNXE238 Corp. remains committed to advancing the Duck Creek uranium project within the expert guideline and recommendations of NI43-101 and is eager to execute a robust exploration program to confirm historic drilling data and to test Fort Union Formation laying underneath.
Next Steps
WWC has several recommendations for future development and operations.
- Prepare a non-coal Drilling Notification (DN) required by the Wyoming Department of Environmental Quality/Land Quality Division (WDEQ/LQD) in order to explore by drilling.
- Verification drilling, geophysical logging, and prompt fission neutron (PFN) logging could confirm historical estimates, provide disequilibrium data, and allow conversion to classified resources.
- Complete exploration drilling in the Fort Union Formation to determine if additional mineralized zones are present.
- Water level data should be collected during exploration and verification drilling to determine which intervals are saturated.
Based on available data, the exploration target for the Project is estimated to
range from 1.4 to 4.2 million lbs U3O8.
The Project has a number of positive attributes.
- First, the historical exploration was well done and is extensive.
- Second, the potential that mineralization is present in the deeper Fort Union is supported by the nearby advanced projects in the area.
- Third, the Project lies in Wyoming where regulatory risk is low, and exploration authorization is expected.
- Fourth, the 4 sections of Project lies on State of Wyoming leases which reduce boundaries to surface access and additional exploration and 4 sections lies on BLM land.
- UNXE238 intend to aggressively advance the project to next stage.
- A robust Exploration program will be prepared in the light of NI43-101 which will be released by WWC engineering in the 2nd quarter 2025.
- UNXE238 Corp. is actively looking for partners/investors for a joint venture to advance the exploration activities.
About UNXE238 Corp.
UNXE238 Corp. is a project generation, and a forward-looking uranium exploration company focused on high-potential projects in the Wyoming, New Mexico and Utah. With a dedicated team and strong technical expertise, the Company is committed to exploring and developing uranium resources to meet the growing global demand for clean energy.
For further information, please contact:
UNXE238Corp.
Email Address: info@unxe238corp.com;
Cautionary Note Regarding Historical Mineral Resource Estimates
(Disclosure in accordance with CIM and NI 43-101 guidelines)
The mineral resource estimate disclosed herein is preliminary in nature, derived from historical drill hole data. This estimate is not compliant with NI 43-101 and does not meet the criteria for Measured and Indicated (M&I) resources under the CIM Definition Standards. The Company is not treating the estimate as a current mineral resources and reserves