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Location
The Dewey Burdock Project covers more than 18,000 acres in South Dakota on the southwest flank of the Black Hills uplift. It's part of the northern extension of the Edgemont uranium district discovered in the 1950's. Resources An updated (June 2009) form 43-101 technical report, authored by James Bonner, has determined an inferred resource of 10.8 million pounds of U3O8 contained in 2,992,836 tons of host rock. The average grade is 0.182% U3O8. Uranium resources are contained in two deposits located at depths ranging between 400 and 800 feet below surface. Bench leach tests of cores show 99% recovery (with mild acid). Status of Permit Applications: NRC and EPA As reported in our June 16, 2009 News Release, Powertech held a very positive meeting with the U.S. Nuclear Regulatory Commission (NRC) in Washington, D.C. to review the company's 7,800 page in situ leach application. In addition, Powertech's Underground Injection Control (UIC) permit application has been "ruled complete" by the U.S. Environmental Protection Agency (EPA). See the June 16, 2009 news release for details on both applications Knight Piesold Consulting Engineers of Colorado, who have been under contract with Powertech since July 2007, are managing permitting for all required regulatory authorities including Fall River and Custer counties, the State of South Dakota, the NRC and the EPA. The agreement with Knight Piesold covers baseline data collection, environmental impact analysis, cost/benefit analysis and permit/license applications. What's Next Powertech has received a new uranium exploration permit for 30 additional drill holes. The goal of this new drill program is to confirm that the area for the proposed plant site will not be built over potential ore. Drilling pursuant to this permit has not yet begun. In the meantime, we are focused on meeting all permitting requirements with the NCR and EPA. Over the next year, we intend to continue moving ahead with applicable permitting processes and, in accordance with recommendations of the Dewey-Burdock Report, to have an analysis of the property performed by a qualified person to reclassify appropriate portions of the property's inferred resources to measured and indicated resources. We may then proceed with an independent preliminary feasibility study. History Uranium was found in the Edgemont district in 1952. Early discoveries were at surface. Later drilling revealed deeper uranium deposits. In the mid 1970's, Tennessee Valley Authority (TVA) bought a major interest in the area and made Dewey Burdock their main exploration target. Silver King Mines (SKM) was hired as operator by TVA and explored the property until mid 1980's. It was then dropped due to low uranium prices. Energy Fuels Nuclear (EFN) acquired the project in 1994 but relinquished it due to low uranium prices. Almost 4,000 exploration holes have been drilled on the property to depths of 500-800 feet. Powertech acquired the property in 2005. Regional Geology The Dewey Burdock deposit occurs in the Fall River and Lakota Formations of lower Cretaceous age. The Fall River and Lakota formations consist of permeable sandstones deposited in a major sand channel system. The sandstones are a major groundwater aquifer. The uranium occurs in the sandstones as classic roll front deposits. These deposits are amenable to ISR mining methods. Photo Gallery | | |||
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