Uranium - Acquisition & exploration
Idaho, Utah, Wyoming, New Mexico & Canada's Athabasca Basin.
Magnum Uranium Corp. Vancouver, B.C., TSX.V : MM, is a Canadian-based exploration company focused on the acquisition and development of a high-quality portfolio of uranium properties.
Magnum's corporate strategy is to acquire advanced-stage uranium properties that are either past producers, have been the subject of prior work programs and/or contain historic resources. Additionally, Magnum will acquire selective early-stage properties should they possess significant geologic merit.
Magnum has a proven track record of acquiring projects that meet these criteria as evidenced by our present portfolio.
Our geographic focus is the Western United States, where we have acquired uranium properties in Idaho, Utah, Wyoming, New Mexico, and Canada's Athabasca Basin.
Magnum is led by a team with a broad range of experience in uranium exploration, mining finance and corporate development.
We are well-funded, attractively valued relative to our peer group and have a strong pipeline of property prospects.
|
Property Name |
Location |
Total Claims |
Grades |
Comments |
|
San Rafael |
Emery County, Utah |
266 Federal Mining Claims |
0.07% - 0.16% |
Joint-venture with Energy Metals Corp. Magnum has a right to earn up to 80% of the project. Historic resource of 2.2 million pounds of U3O8 (non NI 43-101 compliant). |
|
Wild Buck |
Converse County, Wyoming |
18 Federal Lode Mining Claims |
In Process |
Joint-venture with Energy Metals Corp. Magnum has a right to earn up to 80% of the project. Historic resource of 0.4 million pounds of U3O8 (non NI 43-101 compliant). |
|
Cedar Mountain Project |
Emery County, Utah |
61 |
0.05% - 1.0% |
Historic resource of 2.2 million pounds of U3O8 (non NI 43-101 compliant). |
|
Stanley Uranium District |
Custer County, Idaho |
129 |
0.18% - 15.0% |
Historical reported production from 4 pits and one underground mine (non NI 43-101 compliant). |
|
Lye |
Fremont County, Wyoming |
42 plus 1 state lease |
0.018% |
Historic resource of 0.5 million lbs. 20 foot thickness from surface to 60 feet. Open on NE & SW. Open-pittable. |
|
35-75 |
Converse & Campbell Counties, Wyoming |
26 plus 2 leases |
0.10%-0.12% |
Roll-front containing historic resource of 1.0 million lbs (non NI 43-101 compliant) at a depth of 250 feet. Adjacent to Cameco's Smith Ranch deposit. Open pit and ISL potential. |
|
Turnercrest |
Powder River Basin, Wyoming |
4 Square Miles |
0.021% - 9.11% |
The property covers a 1.5 mile long trend of shallow, near surface uranium mineralization that includes the historic North American Key, Sundance Betty, Little Betty and Powder River Minerals mines, all of which produced uranium between 1955 and 1956. |
|
Little Egypt |
Garfield County, Utah |
59 |
0.25% - 1.68% |
Contiguous to properties controlled by Energy Metals and U.S. Energy. Within 50 km of Shootaring Canyon mill. |
|
Big Muddy |
Emery County, Utah |
2 leases |
n/a |
Underground workings, adits, etc. |
|
Marysvale |
Marysvale Uranium District, Utah |
32 |
0.20% |
It is estimated that approximately 1.1 million pounds of uranium were produced from vein structures within the Marysvale Uranium District |
Athabasca Basin The Athabasca Basin in northern Saskatchewan is the world's largest producer of uranium, accounting for about one third of the world's uranium mine output. The Athabasca Basin is host to the largest high grade uranium deposits in the world. The extremely high-grade nature of the deposits and the low discovery costs make it the most prospective exploration region in the world. The Athabasca Basin has been identified as the "global hotspot" for high-grade unconformity-related uranium deposits accounting for more than 32% of global uranium supply. Magnum Land Position: Magnum has acquired a 100% interest in exploration permits covering 416,000 acres in the Athabasca Basin. The permits, located in the northeastern portion of the Athabasca Basin, are adjacent to claims controlled by, among others, Cogema, Pitchstone Exploration Ltd., Purepoint Uranium Group, and International Uranium Corporation. Magnum's property portfolio provides significant exposure to the world's most prolific uranium region Triex Joint Venture
Magnum has entered into a Joint Venture Agreement with Triex Minerals Corporation under which Triex has the right to acquire up to a 70% interest in Magnum's Stony Road Property.
Triex can earn-in by incurring $3,000,000 in property expenditures by 2011. The Stony Road Property covers a total of 183,040 acres, or 45% of Magnum's land holdings, in the Athabasca Basin.
Triex will advance the Stony Road Property based on the newly identified exploration at their Pasfield Lake property, and refined exploration model for the Cable Bay Shear Zone and associated magnetic features. A $500,000 exploration program is being planned for this summer. Planned work includes a 3-D Full Tensor gravity gradient airborne survey to compliment the MEGATAM II airborne EM survey already completed by Magnum, a ground-based AMT survey (audio-magnetotellurics) which was effective at delineating the Pasfield Lake uplift feature and Cable Bay Shear Zone, and detailed geochemical surveys and prospecting.