PROJECT OVERVIEW
The Kurupung Project is a major uranium exploration asset located in the Cuyuni-Mazaruni Region of Guyana.
- Jurisdiction: Guyana is rapidly emerging as one of South America’s most attractive mining jurisdictions, with a pro-mining government and a natural resources sector that represented 62% of GDP in 2022.
- Land Package: The project consists of a 92.2km² land package with significant historical exploration work.
- Infrastructure: The project is accessible and benefits from a history of well-established exploration activity.
GEOLOGY & MINERALIZATION
The project is characterized by shear-hosted uranium mineralization within the Aricheng Batholith, a
- Geological Setting: Uranium targets are associated with dilational shears and fractures that were mineralized by uranium-bearing fluids.
- Target Identification: Uranium mineralization is typically hosted within demagnetized shear zones that are easily identifiable as magnetic-low features in airborne magnetic data, providing a reliable exploration tool.
HISTORICAL RESOURCE
The Kurupung Project hosts a substantial historical mineral resource estimate, which forms the basis
Total Historical Resource (at 0.03% U₃O₈ cut-off):
- Indicated: 6,869,000 tonnes at an average grade of 0.07% U₃O₈, for 10,812,000 contained pounds.
- Inferred: 6,834,000 tonnes at an average grade of 0.07% U₃O₈, for 9,926,000 contained pounds.
EXPLORATION POTENTIAL
We see a significant opportunity to expand the existing historical resource at Kurupung.
- Open Mineralization: The deposits that comprise the historical resource remain open along strike and down dip, with resource growth potential at depth.
- Untested Targets: There are eight follow-up targets with high-interest drill intersections that were not included in the 2012 resource estimate. This includes over 14,000m of high-grade intersections at an average depth of 200m from surface.
- Corridors of Potential: Airborne magnetic data shows untested corridors between the known Accori and Aricheng deposit areas, with gaps of up to 5km along each trend that have not yet been drilled.
- Upside from Re-evaluation: The original resource was calculated using a uranium price of US$55/lb. There is potential to estimate a larger resource by using a lower cut-off grade and a price more reflective of the current market.
