Nuvemco - Uranium, Vanadium, Permits & Uncommitted Projects
Exploration permit for continuation of historical mining trend / drilling with a partial project initial Ni 43-101 report.
Permitted & Production Ready Uranium and Vanadium Projects
Nuvemco has patiently invested in the Uravan Mineral Belt over the past decade to acquire key mineral properties and obtain hard rock mining permits for domestic supply of critical and strategic energy minerals Uranium and Vanadium.
With permits on patented land, these historic mines enable future open pit and underground production.
Permitted mine that is production ready last operated by Nuvemco in 2008 Shipped grades of .40% uranium and 2.4% vanadium. On standby now, return to mining estimated between 120 to 180 days, after MSHA reopening approvals.
Permit for shipment of mined ore and potential to rehabilitate and reopen the October Mine near Gateway, CO.
Exploration permit for privately held land that has produced historically and has on-trend potential yet to be explored.
Nuvemco knows this country. We have an assembled database of uranium and vanadium projects and key relationships within the industry and community.
Nuvemco is a proud neighbor to the U.S. Dept. of Energy Strategic Uranium Reserves and DOE Uranium Leasing Program Lease tracts in Paradox Valley, Colorado.
The program dates back to 1948, when DOE's earliest predecessor, the U.S. Atomic Energy Commission (AEC) was authorized to develop a supply of domestic uranium. Since then, 8+ million pounds of uranium and 41+ million pounds of vanadium have been produced under these leases, earning the DOE $62.9 million in royalties over the years.
These lease tracts are located in southwestern Colorado, in Mesa, Montrose, and San Miguel counties, as shown by the accompanying extract of DOE's map published in March 2014. These lease tracts cover 25,000 acres, more or less, have remaining u3o8 ore reserves of 13 million pounds, and are offered for lease to the domestic uranium industry through a competitive royalty-bid process. These royalties vary by property, with estimated royalties on key leases 20+%.
Uravan - a contraction of uranium and vanadium.
Uravan Mineral Belt - a geographic region in the southwest United States known for sandstone hosted radium, uranium and vanadium deposits (see highlighted area of accompanying map adapted from W Chenoweth, 1981). From 1881 to the late 1970's, the Uravan Mineral Belt, or Belt for short, produced in southwestern Colorado:
~ 364 million pounds of Vanadium and
~ 85 million pounds of Uranium.
Far from being mined out, the Colorado Geological Survey stated the Belt will be "a producer for years to come."
Vanadium - The most significant mineral in the Belt (volume) and the most valuable currently. Vanadium is a premier alloy for strength in steel, used in aerospace metals, and has great promise for VRFB (vanadium redox flow batteries) targeting facility and grid level storage of renewable energy production.
Uranium - At times over the past century, uranium has been the most valuable mineral in the Belt. It fuels nuclear power, the only carbon free, 24x7x365 source of electricity, powers the U.S. Navy, enables the defense of the world, and has numerous medical uses.
Nuvemco is a proud neighbor to the U.S. Dept. of Energy Strategic Uranium Reserves and ULP Lease tracts in Paradox Valley, Colorado.
Mining Permits - Key Competitive Advantage
There is little debate that obtaining a mining permit in the U.S. take great effort and key support from the local community.
Nuvemco's proven ability to navigate and succeed with permitting is a core
competency and value enabler. Permits are a competitive advantage measured in years.
Industry leaders have suggested a time advantage of 3 to 5 years and a value over $1 million. We would not disagree.
Adaption of Index Map highlighting Uravan Mineral Belt
W Chenoweth, DOE, 1981
Historical Production - $553.2 Million
Nuvemco Project Outlines and DOE Lease Tracts
Paradox Valley, Colorado
Nuvemco Projects - Ore Without High Royalties
Nuvemco's primary area of interest is south of Paradox Valley, Colorado, which is west of Naturita, Colorado and near the border of Colorado and Utah.
The accompanying project outlines maps how Nuvemco projects are intertwined with U.S. Dept. of Energy Strategic Uranium Reserves and ULP tracts 5, 6, 7 ,8, and 9, The one exception is Nuvemco's Gateway District project located further north than the map shows.
Nuvemco has numerous benefits from adjoining DOE lease tracts, including the maintenance of county roads, primary electrical infrastructure, safety driven underground access, extensive environmental studies, and volumes of public data and analysis for NEPA, PEIS, and geologic requirements. There is also a "social license" benefit as the neighboring community generally supports the DOE.
Simply put, by having mineral rights adjoining DOE lease tracts, Nuvemco arguably has strategic uranium reserve value without having the royalty obligations of a DOE lease tract, a significant advantage.
While past production is not a guarantee of future performance, property where Nuvemco holds current mineral rights have been home to over fifty mines. These mines provided prolific historical production of uranium and vanadium, as the chart at right summarizes.
Work performed by Nuvemco and others show that not all minerals that have been discovered have been mined and Nuvemco believes that not all minerals that exist have been discovered, be it on trend, open, or otherwise.
Assuming $30/lb. uranium and $15/lb. vanadium, the gross mineral value of historical production is $553.2 million.
Source: Colorado Geologic Survey, Bulletin 40 (1978) and available production records.
Bull Canyon District - Exploit and Expand on Open Ore Bodies and Trends
Bull Canyon has been a uranium district since the 1950's, with Atlas Minerals, Sundance Oil, General Electric, Andrews Mining, Greagor Group and many more involved. Their drilling programs identified numerous ore intercepts, many of which remain to be mined. We look to confirm, exploit and expand on open ore trends.
Nuvemco has prioritized 4 Bull Canyon Projects on its property holdings, each with their own area of special interest and purpose:
- Blue Streak - high grade vanadium, multiple ore horizons, large scale mine
- Blue Streak North - historical resources, on trend, but never mined
- Starlight - high vanadium and rare earth anomalies
- Rimrocks - opportunities for continuation of historical Uravan method
An initial NI 43-101 has been commissioned, for the Blue Streak Mine, with a final report expected in the second quarter of 2019. The name comes from the brilliant blue ore containing high grades of vanadium. A recent sampling and XRF program (pictured) in the face of the drift where mining stopped in 2009 returned chemical assays averaging 4.80% vanadium and 0.75% uranium.
The Blue Streak mine has good rock and infrastructure, allowing for an efficient return to mining. An upgrade from prospecting to mining permit is planned before shipping ore and a major drilling program comprised of confirmation drilling and exploration drilling to establish resources.