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ARIZONA: High Grade Breccia Pipe District

Breccia pipe uranium deposits are relatively high grade making them a competitive producer with several environmental advantages

Advantages of the Arizona Strip:

  • Produced 20mm lbs of U3O8 from 8 breccia pipes
  • Ease of reclamation with no tailings
  • Average produced grade of 0.63% U3O8 places these deposits among the highest grade in the U.S.
  • Typical mine “footprint” of less than 20 acres allows cookie cutter permitting
  • Typically short (less than 5 years) timeline from development to reclamation
  • Reclamation is relatively simple as there are no tailings on site, ore hauled to Utah, and waste rock pushed back in shaft
  • Energy Fuels Canyon Mine illustrates the attractiveness of these deposits with 2.43 million pounds averaging 0.88% U3O8 with co-product of 11.94 million pounds averaging 5.93% copper

Revolutionizing Discovery of Arizona Breccia Pipes

Breccia pipe exploration and discovery has been led by a series of companies beginning with Energy Fuels and Union Carbide. More recently Quaterra’s renewed efforts in the district have been passed on to the enCore team through the acquisition of the Metamin US breccia pipe properties and VTEM™ database.

  • 99,260 feet of modern drilling in 148 holes by Quaterra tested 24 breccia pipe targets
    • 3 mineralized discoveries
    • 4 probable pipes, 1 possible pipe, 7 inconclusive tests, 10 negative tests
  • Industry leading helicopter VTEM (Variable Time Domain Electromagnetic) – GEOTECH) geophysical survey method has revolutionized the discovery process and odds of success
    • Before VTEM™
      • 14 targets drilled, no discoveries, 5 inconclusive tests
    • After VTEM™’s introduction and application
      • 9 targets drilled, 8 positive for a 89% success ratio
Arizona Breccia Pipes

Arizona Breccia Pipes-Discoveries

  • The properties are held through 3 Arizona State Leases and 467 unpatented Federal lode claims covering more than 10,000 acres with the 145 best VTEM™ targets in the northern Arizona Strip District
  • In January 2009 former operator Quaterra abruptly ended drilling program when plunging uranium market prices and unfavorable political climate forced program suspension

DISCOVERIES (Post Discovery Temporary Mineral Withdrawal)

A-01 Pipe

  • Discovered as a blind target at depth of 1046 feet with 28’ of 0.58% U3O8 and 4’ of 0.45% U308 at 1119’
  • Deepest hole at 1500 feet is still in structure
  • During its active drilling program Quaterra tested only 4 of what it reports as 200 or more targets, therefore there is a great potential for discovering new mineralized breccia pipes discovered by the VTEM™ surveys

Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Qualified Person as defined under National Instrument 43-101 and has reviewed and verified the information presented throughout this enCore Energy Corp. website.

Ollie Pipe

  • Large, early exploration still with 54.5’ of 0.24% U3O8 (incl. 27’ of 0.36%) at depth of 1342’ in hole 2618-04.
  • Hole 2618-05 intersected 10.5’ of 0.21% at 1267’ and 12’ of 0.20% at 1344’
  • Less than 20% of the mineralized zone has been drill tested
  • Steep northerly plunge identified from drilling
  • Expected 250’ pipe diameter in heart of mineralized zone

A-20 Pipe

  • Discovery hole A20-01 intersected 34.5’ of 0.37% U3O8 (incl. 6.5’ of 0.63%) at 1442’ and 13’ of 0.46% at 1567’.
  • Hole A20-03 intersected 11’ of 0.21% at 1548’.
  • Plotted hole deviation suggestive of larger than 300 foot diameter pipe
  • DH A-20-01 included 35 ft 0.37% U3O8 and 13 ft 0.46% U3O8 to 1724 ft TD
  • DH A-20-04 stopped January 2009, at 1230 ft well above the target zone when drilling program was suspended; was planned to deepen later, but was never completed

Much of the prime mineralized ground in the northern Arizona Strip District is the subject of a controversial land withdrawal that is under review for possible reversal

145 Validated Targets

VTEM Anomalies on State Lease Land-not affected by withdrawal

  • 4 highest priority geophysical targets
  • 1 moderate priority target

VTEM Anomalies of Federal Land held by unpatented mining claims

  • 130 highest and moderate priority geophysical targets
  • 10 lower priority targets

Permitting

  • 3 Proven discoveries
  • 5 quality targets on state lands permitted and approved for drilling
  • 34 quality targets ready to drill on withdrawn federal lands with approved and bonded Notice of Intent (NOI) permits (subject to legal proceedings and/or governmental review)

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