Potential to be one of the lowest cost uranium producers
U3O8 Corp’s most advanced property in Colombia is the Berlin Project in Caldas Province. Berlin is a sediment-hosted uranium target on which we have defined a uranium, vanadium and phosphate deposit plus other metals on just the southern three kilometres (“km”) of a 10.5km mineralized trend.
We plan to continue drilling along the additional 7.5km strike to the north, but where our trenching has encountered similar mineralization, with the aim of growing our current mineral resource and outlining the size potential of the entire property. Initial metallurgical tests also show that the suite of commodities at Berlin can be extracted efficiently from the mineralized rock. A preliminary economic assessment shows that revenue from by-products, mainly phosphate, vanadium, yttrium and nickel, is projected to pay for the mining and extraction of the uranium – this could make Berlin a very low cost uranium producer.
The Berlin Project has the potential to generate phosphate for fertilizers while producing uranium for nuclear power, vanadium used in batteries for energy storage, rare earths used in high-tech applications including renewable power and other metals as co-products. In addition, Berlin is well situated between Colombia’s largest cities of Bogota and Medellin and near the country’s agricultural heartland. Nearby infrastructure includes a hydroelectric plant 12km away as well as 60km away, the project is serviced by a main highway, a port on the Magdalena River navigable to the Caribbean sea and access to a railway line scheduled for refurbishment.
- PEA shows uranium could be a very low cost uranium producer1
- Uranium resource of 1.5mlb (Indicated) at 0.11% U3O8 and 19.9mlb (Inferred) at 0.11% U3O8 plus vanadium, phosphate and other metals at Berlin2
- Excellent metallurgy of 97% uranium, 99% phosphate, 66% vanadium at Berlin
- Rare earth recoveries of 86% yttrium, 60% neodymium
- Clear path to rapid resource growth
- Near good infrastructure
1 See the January 18, 2013 technical report: “Berlin Project, Colombia – Preliminary Economic Assessment, NI 43-101 Report.” The PEA is preliminary in nature and includes inferred mineral resources that are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the PEA will be realized
2 See Resource defined in compliance with NI 43-101. (see Disclaimer)