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AREVA > Home > Operations > Exploration
Exploration and Mines of the Future
These are high times for the resource sector in Saskatchewan and western Canada. Mineral exploration is widespread and intense, from gold to diamonds to rare earths and uranium. The resulting discoveries are creating the potential for more mining operations throughout the north.
AREVA Resources continues to be among the leaders in the industry, with five significant uranium properties moving forward to eventual production.
Caribou
Geologist Anthony Williamson and geological technician Adam Gobeil examining drill core at McClean Lake.
Caribou
Discovered in 2002, Caribou is a small uranium deposit at the McClean Lake site that can extend mining and milling operations. The deposit is 1.8 km northwest of the mined-out Sue C open pit mine. Because the ore is primarily located between 100 to 130 metres below surface, it can be recovered using conventional open pit mining. The environmental assessment for the Caribou open pit mine has been initiated.
Midwest
The Midwest Project, 15 km west of McClean Lake, is 69.16% owned by AREVA Resources, in partnership with Denison Mines (25.17%) and OURD Canada Co. Ltd. (5.67%). The environmental assessment is in progress and is expected to be completed in 2008, followed by licensing and site infrastructure development. Mining of the deposit is targeted to begin in 2009 and will take approximately five years to complete.
The orebody contains about 37 million pounds of U3O8 at an average grade of approximately 2.4%.
McClean Lake Underground Mine
An underground mine is being planned for the McClean Lake site near the entrance to the lease area. The orebody, containing about 10 million pounds of uranium at an average grade of 2.5%, is located 180 metres below the surface. This mine was considered in the original McClean Lake environmental assessment process. With licensing applications in 2008, AREVA Resources could begin mine development in 2009. Production is targeted for 2011. The MED project used this location to test the equipment.
Kiggavik
The Kiggavik and Sissons properties are located approximately 80 km west of Baker Lake, Nunavut.
The project is operated by AREVA Resources in joint venture with JCU Exploration (Canada) Co. Ltd. and DAEWOO Corporation. Exploration drilling resumed in 2007 and evaluation of existing core samples and other analysis is to be undertaken concurrently. Public consultation continues to be an important aspect of this development.
Millennium
This project is a potential underground uranium mine 35 km north of Key Lake. The project feasibility study is expected to be completed in 2008. As of December 31, 2006, the deposit contains 38 million pounds of U3O8 of indicated resources at 3.8% grade, and 10 million pounds of U3O8 of inferred resources at 2.0% grade, to be processed at the Key Lake mill. AREVA Resources owns 28% of Millennium in partnership with JCU Exploration (Canada) Co. Ltd. (30%) and the operator, Cameco (42%).
Shea Creek
The Shea Creek project, 51% owned and operated by AREVA Resources and 49% owned by
join venture partner UEX corporation, consists of several deposits located south of Cluff Lake in a north-south line about 30 km in length. Extensive drilling has shown very impressive results, particularly in the Kianna, Anne and Colette deposits about 20 km south of the Cluff Lake site.
AREVA Resources is planning to submit a project description to the regulatory authorities in early 2008 for one or two underground exploration shafts and test mining facilities. Construction could begin in 2010 with completion in 2013.
Exploration Environmental Policy
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