The Next Frontier for New Uranium Discoveries
U3O8 Corp. is focused on uranium exploration in South America – one of the world’s promising frontiers for new uranium discoveries and development. We are in a premier position with one of the most advanced suite of uranium projects on this continent comprising NI 43-101 compliant resources in Guyana, significant historic resources in Colombia, and near-resource and discovery potential in Argentina.
Nuclear user. One of the region’s largest nuclear users with two reactors generating 7% of the country’s electricity, a third reactor due for completion by the end of 2010, and a fourth planned.
Geologically prospective. The National Atomic Energy of Argentina (CNEA) estimates that the country has 120 million pounds of uranium in “exploration targets.”
Mining history. Historic production of over five million pounds of uranium in Argentina was from seven mines. CNEA plans to restart the Sierra Pintada mine in Mendoza Province and has been drilling at Cerro Solo in Chubut Province to evaluate the resource for production. The State program and the drafting of a new provincial mining policy are promising indications that the current open pit mining ban in Chubut may be lifted in the near future. With a near-resource project at Laguna Salada and strategic land holdings in proximity to the State-owned Cerro Solo deposit in Chubut, U3O8 Corp. is poised to capitalize on this expected positive legislative change.
Geologically prospective. While Colombia has substantial oil reserves and is a major producer of other metals, the country has been significantly under-explored for uranium.
Mining-friendly jurisdiction. Colombia was named the most improved mining jurisdiction in Latin America (Fraser Institute Annual Mining Survey 2008/09). The State is fostering the development of a strong private sector mining industry.
Geologically prospective. Situated on the mineral rich Guyana Shield, Guyana has attracted the world’s largest mining companies and is known for its undeveloped resources including bauxite, copper, gold and uranium.
Mining-friendly regime. Guyana has an established mining regime governed by the Guyana Geology and Mines Commission, which promotes foreign investment and mineral development in Guyana. The development of the country’s mineral resources is a key economic growth strategy.
British Commonwealth. Guyana is an English-speaking country and a stable republic within the British Commonwealth with an elected Head of State.