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Lye Project
| Location: |
Fremont County, Wyoming |
| Property Position: |
42 federal lode mining claims |
| Ownership: |
100% |
| Grades: |
0.018% |
| Comments: |
Historic resource of 0.5 million pounds of U3O8 (non NI 43-101 compliant, and should not be relied on) |
The Lye Uranium Property, located in Fremont County, Wyoming was acquired via staking and consists of 42 federal lode mining claims and one Wyoming State Mineral Lease. Shallow uranium mineralization at the Lye Property was previously explored and held by Atlantic Ritchfield Company ("ARCO") from 1967 to 1978. According to an internal company memo, ARCO held the Lye Property for this lengthy time period as they felt the property had significant potential based on its above-average thickness, shallow depth, and projected low stripping ratio, all suggesting the possibility of a low-cost and relatively simple open-pit mining operation.
Originally discovered as a surface radiation anomaly, uranium mineralization at the Lye Property is hosted in sandstone of the Eocene Wind River Formation. Results of 139 holes drilled on the property by ARCO show that the mineralization exists from the surface to a depth of 60 feet and that a significant portion of this mineralization is within 30 feet of the surface. Results of the drilling further indicate that the zone of mineralization is northeast trending, extends continuously over a strike length of 2,200 feet, and is open at both ends. The mineralized zone averages a thickness of 20-feet and width of 300-feet.
Magnum Drill Program
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drill rig
214 KB, approx. 41 seconds at 56.6Kbps |
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