Energy Fuels is continuing to identify areas of high-grade uranium mineralization at the Canyon Mine in northern Arizona. The company is also continuing to evaluate additional zones of high-grade copper mineralization that reside both inside and outside the areas of potentially recoverable uranium mineralization. The additional uranium the company is identifying has the potential to significantly lower the production costs of this nearly developed mine to a level that is in-line with the lowest-cost, 'tier one' conventional uranium mines operating in the world today. If the copper can be economically recovered as a byproduct of uranium recovery, production costs will drop even further.
Chemical assay analysis of the core samples generated from the underground drilling program is ongoing.To date, approximately 95% of the core samples have been sampled and analyzed.
