Company Projects Adjoining Lost Creek
Geologic evaluations of the Lost Creek permit area and the Company’s adjoining properties have identified multiple additional exploration targets. These new exploration targets on the properties adjoining Lost Creek consist of at least 10 individual sinuous redox fronts within four major stratigraphic horizons identified by Ur-Energy geologists using an in-house database of historic drill holes and Ur-Energy drill holes. Estimates of the potential of the new fronts are based on the observed similarity of alteration characteristics, and grade and thickness of mineralization to that currently identified in the Lost Creek deposit. These targets are conceptual in nature.
Ur-Energy is currently conducting an exploration drilling program at LC North. As of September 30, 2011, 56 holes have been drilled for a total of 55,220 feet (16,831 meters). It is estimated that as many as 2,000 to 3,000 drill holes will be required over the course of several years to fully evaluate the exploration targets at LC North, LC South and areas within the Lost Creek project outside of the currently defined mineral resource.
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