Uranium in Mali Application of UNFC-2009

Transcription

1 Regional Training Course on United Nations Framework Classification 2009 for evaluation of uranium and thorium resources and to leverage transparent and effective communications - Luxor, Egypt, October, Uranium in Mali Application of UNFC-2009 BY: - Mr. TAHIROU SAMAKE / Ministry of Energy and Water - Mr. Lassina GOITA / Ministry of Mines 1

2 2

3 Uranium Industry outlook - 7 U exploration permits granted to 5 companies: Merrex Gold (Diarindi = 150 km2), Oklo Uranium (Tessalit = 4,000 km2, Kidal = 3,980 km2), Delta Exploration Mali Sarl (Bala = 125 km2 and Madini = 67 km2), 3

4 Tropical Gold of Mali Sarl (Dombia = 254 km2) and Earthstone Resources Mali Ltd (Afarat = 1,750 km2) - 1 Copper exploration permit undergoing U exploration: Delta Exploration (Falea=75 km2) 4

5 Faléa Uranium-Silver-Copper Project: The Most advanced U exploration project in Mali now 5

6 Faléa Uranium-Silver-Copper Project: Location 6

7 Faléa Uranium-Silver-Copper Project: History 1977 Uranium discovered in Falea by Cogema (French) 1982 After drilling of 86 boreholes (total of m), Cogema abandonned the project 2006 Delta Exploration Mali signed a convention with the gouvernment of Mali and Rockgate Capital concluded an agreement with Delta 2007 Falea exploration permit is granted to Delta Exploration 2008 Rockgate took over Delta Exploration Inc and its subsidiaries. Delta Exploration Mali remained the operator to 2013 Rockgate drilled 945 boreholes(total of m) Mineralisations discovered for U, Ag and Cu in the North, central and Bodi areas Total expenditure is more than 42 M$ US 2013 to 2014 Rockgate and its subsidiaries are taken over by Denison for 26.4 M$ US 7

8 Faléa Uranium-Silver-Copper Project: Ownership Denison Mines Corp. (Canada) 2013/ % Rockgate Capital Corp. (Canada) 100% Operator Delta Exploration Mali SARL (Mali) 100% PROJET FALEA Falea PR07/304 Bala PR11/457 Madini PR11/458 8

9 Faléa Uranium-Silver-Copper Project: Resources 19% 50% 30% Uranium Silver Copper 9

10 Faléa Uranium-Silver-Copper activities by Denison Mines Project: Current Detailed analysis of the project and reinterpretation of existing exploration data (finished) Internal Economical study (finished) Analysis of geological cartography and geochemical orientation (finished) Mapping in progress by Geotech Airborne Limited (South Africa): Geophysical VTEM plus, Magnetic-gradiometer, Electromagnetic and radiometric (under Falea, Bala and Madini permits); about 1390 linear km, 150 m between lines, Est-West direction 10

11 1. Faléa Uranium-Silver-Copper activities by Denison Mines Levé Geophysique Levé VTEM existant Project: Cartographie Géologique et Levé Géochimique Bodi Zone North Zone Central Zone Camp Current Bodi Zone Cartographie Géologique North Zone Orientation du levé Géochimique Central Zone Camp Levé Levé VTEM VTEM programmé programmé (1,384 (1,384 km km linéaire) linéaire) 11

12 Faléa Uranium-Silver-Copper economical study Project: Internal Conclusions : With the current prices (~30 $ US/lb for uranium), Falea project is not economically viable, knowing the nature and the depth of resources in U-Ag-Cu The project viability can be improved by: 1. a significant increase in uranium prices; 2. the discovery of other resources in Falea through further explorations ; or 3. research in more efficient extraction and processing methods. Denison Mines is working on the last 2 points. 12

13 CONCLUSION UNFC-2009 Falea Project = Prospection Project (Class 334): - E3: non commercial project for the moment - F3: Potential recovery in future in case of a successfull exploration or innovative recovery technology - G4: High level of uncertainty and high risk for any mining project of estimated quantities. 13

14 Thank you for your kind attention 14