Basin Uranium has entered into an option agreement with Cowboy Exploration and Development LLC, St. Cloud Trading Corp, and Thomas Byrne. The option grants Basin Uranium the right to acquire a 90% interest in the Chord property, located in East Fall River County, South Dakota. The property comprises 147 contiguous lode mining claims, spanning around 3,037 acres. Mineralization at Chord is hosted within typical roll-front deposits in the Cretaceous age Fall River and Lakota formations, in particular the Chilson member, which is the same host for mineralization at Dewey-Burdock. The property has been extensively explored since the 1970s, and is host to an historic resource totaling 2.4 million pounds U3O8 plus a potential resource of 1.4 million pounds U3O8. Basin Uranium plans to engage in the permitting process for the Chord property to conduct exploration, confirmatory drilling, aquifer testing, and to acquire additional public and private datasets.
Chord Property: A High-Value Acquisition for Basin Uranium
Basin Uranium has secured an option to acquire a 90% interest in the Chord property, located in East Fall River County, South Dakota. The property is host to an historic resource totaling 2.4 million pounds U3O8 plus a potential resource of 1.4 million pounds U3O8. Mineralization at Chord is hosted within typical roll-front deposits in the Cretaceous age Fall River and Lakota formations, in particular the Chilson member, which is the same host for mineralization at Dewey-Burdock. Basin Uranium plans to engage in the permitting process for the Chord property to conduct exploration, confirmatory drilling, aquifer testing, and to acquire additional public and private datasets.
An Overview of the Chord Property
The Chord property comprises 147 contiguous lode mining claims, spanning around 3,037 acres. Mineralization at Chord is hosted within typical roll-front deposits in the Cretaceous age Fall River and Lakota formations, in particular the Chilson member, which is the same host for mineralization at Dewey-Burdock. The property has been extensively explored since the 1970s, and is host to an historic resource totaling 2.4 million pounds U3O8 plus a potential resource of 1.4 million pounds U3O8.
Basin Uranium Plans to Explore the Chord Property
Basin Uranium plans to engage in the permitting process for the Chord property to conduct exploration, confirmatory drilling, aquifer testing, and to acquire additional public and private datasets. The company will also investigate the ISR amenability and conduct exploration to increase the currently known mineralized footprint. The Dewey-Burdock project is located adjacent to the Chord property and is host to a M&I resource of 17.1 Mlbs U3O8, plus an Inferred resource of 0.7 Mlbs U3O8, a positive Preliminary Economic Assessment outlining a low-impact in-situ recovery (ISR) operation producing 14.3 Mlbs U3O8 at an all-in sustaining cost of US$28.88/lb U3O8.
