Ashley Gold Corp. has made a significant discovery at the Sahara Uranium-Vanadium historical reserve in Utah, surpassing expectations with over one-third of historical drilling intersecting mineralization. CEO Darcy Christian expressed amazement at the exhaustive efforts that have gone into delineating this reserve, which could cost $15-20 million to replicate today. The property, located in east-central Utah, has revealed impressive grades of up to 3.92% eU3O8 and thicknesses of up to 16 feet.
The historical drilling data, currently non-43-101 compliant, shows promising results with 9 holes exceeding 1% eU3O8, 38 holes over 0.5% eU3O8, and an extensive body of sandstone hosted Uranium-Vanadium. The Sahara property boasts a historical ore reserve of nearly 500,000 lbs of eU3O8, with modern models indicating a non-compliant resource of over 2,240,000 lbs of eU3O8 and almost 4,000,000 lbs of V2O5.
Energy Fuels conducted several drill programs in the 1990s, with over 775 holes drilled, representing an expenditure of $15-20 million in today’s dollars. The data from these programs has been instrumental in defining the potential of the Sahara property. The company aims to reopen the modern decline at Sahara for further evaluation and exploration, with infill and step-out drilling locations already identified.
With plans to move the Sahara Uranium-Vanadium project towards near-term production, Ashley Gold Corp. is focused on creating long-term value for its shareholders through the discovery and development of world-class gold deposits. The company’s diligence and commitment to advancing this project signals a promising future for the Sahara property and the company as a whole.
