Thomas Lamb

It saw about 125 million in today's dollars in exploration by Union Pacific partnered with Southern California Edison.

Union Pacific uh had identified seven deposits and six of those uh contained that initial resource down to 600 ft. Union Pacific also identified a large number, at least 15 prospects

Bendix concluded that our project area, a rectangle around our project area, but uh we have the vast majority of the that acreage within that rectangle has a uranium endowment of up to 655 million pounds.

they came to the conclusion that within the control area there was um around 245 million pounds potential

we we have five past-producing mines at our project. One of them we share with Grupo Mexico

we sit above the likely bonanza zone as it's called in this epithermal system

The area has has an endowment estimated by Department of Energy, Bendix engineering firm for them. 655 million pounds down to 600 ft.

The initial resource for that mine...was a 27 million pound could call it a starter resource...six of those uh contained that initial resource down to 600 ft.

27 million and 655 million pounds up into a current resource over time.

they drilled an 85 ft intercept at 12,200 ppm equivalent grade. Maybe that'll get a disequilibrium disequilibrium boost of 60%.

It was going to be a large scale conventional uranium mine was going to start production in 1983

located in the epithermal belt of Mexico between two very productive areas

the grades there, this is at canning, the key deposit in the center of the project area, the grades are much higher than than the probe grades, the confirmed laboratory assay grades, 50 60% higher for anything at 500 and a,000 ppm.

grab samples from some of the historic workings that go up to like 12 12 g 12.8 g per ton gold as with 3100 g per ton silver

I think you need uh 30 $30 silver is what I've heard about neighboring operations

we have had to do small fundraises from that that small base.

we are about to sell uh 90% of our New Mexico project uh which maybe we'll chat about uh and we're selling that for 2.5 million US plus a 10% free carried interest through production.

a budget is around call it $4 million just initial

Went out for six, came back with 8.6.

we currently have about 8.5 million in the bank that's a healthy bank balance we have very low burn when we're not drilling

We have about 8.4 million Canadian in the bank right now. The balance is rising rather than falling because uh warrants and options mostly warrants are coming in.

We're cashed up. We're at almost $10 million cash in the bank and we have tons of uranium.

we have had to do small fundraises from that that small base...we're up at whatever $40 million market cap.

we'll be making that decision uh fairly soon. It's an active topic. However, company's in very good shape. Uh we have good cash position with more cash coming in.

we we'd anticipate um you know, drilling possibly 6 months from now at the earliest

we'll be doing all of our mapping and additional sampling and mag geophysics in uh at Sierra Plata

I think we're going to have IP results from our Miniac project in the Abitibi. We'll have those shortly

We're entering phase two drilling now, which is going to confirm historical resources and hopefully bring as much as we can of that 27 million and 655 million pounds up into a current resource over time.

So we're going to start with the historical deposits. That's stage one of the phase 2 drilling. Call it uh 4,500 meters. Uh 300 meters each with a few deep holes and a bunch of shallow holes depending on what's going on in the subsurface of course.

the initial target is uh 5,000 No, four 4,500 m

It could be that we're drilling in May. Uh but it may be a June start uh depending uh the schedule of the drills. And then stage one 6 weeks, 2 months.

I think by the time this this uh video is is published we'll have put out a a press release talking about our radiometrics.

program we have the concept right now is 7 to 10,000 meters initially. >> Right. So we'll get started in that in 2 months.

But we get to expand I think potentially dramatically the amount of uranium that is in the in our within our acreage. >> Okay. Okay, we've got a twin or a triple track coming up, but uh so stick with this one for now. So in terms of the known bringing the historic resource up to date, that that makes sense and your expectation around that it it would be in the range of >> So I will just say it because uh you know there's supposed to be caution around this with 43101 etc. >> The the initial resource that Union Pacific had in mind for its conventional mine was 15 to 30 million pounds. >> Got it. because we of the results we got from our drilling. Yeah. Not just uh probing the probe results were about 15% higher than maybe the historic probe results. >> But when we assay we did we assay which they never did in the 1970s. >> Anything 500 ppm or higher turns out there's 50% more uranium than anybody un previously understood. Thousand ppm or higher 60% more uranium than was previously unders

We have a drill program a drill plan. We've we've uh we've bonded 70 holes out of the 222 that we just permitted

we don't expect there to be any hiccups with this. Um there's been areas um adjacent to us that have been in permitted in the past relatively quickly

It could be that we speed up and over the summer we're drilling like as fast as we can. In which case you might see resources later this year

Our projects are all inside the US, which of course in this current environment is exactly where you want to be.

a silver-gold exploration company with assets in Mexico, Canada's Abitibi region, and in Alaska

We have two very strong projects in the US. First is Copper Mountain. Uh it's Copper Mountain uranium project in Wyoming. The second is the Red Basin project in New Mexico.

a development and exploration company uh with Copper Mountain and Uranium project in Wyoming

We are an America focused uh uranium explorer and developer. We've got two projects. Our main project is in central Wyoming.

The principal project is the Copper Mountain uranium project in central Wyoming...We have two other projects. Uh the second one is called Red Basin in New Mexico...We have a brand new third project. It's called the Brea Pipe project in Arizona.

You returned recently from the from Mexico. You had a site visit over there. After getting boots on the ground at Sierra Plata

First is Copper Mountain. Uh it's Copper Mountain uranium project in Wyoming. The second is the Red Basin project in New Mexico.

development and exploration company uh with Copper Mountain and Uranium project in Wyoming

We recently sold 90% of it. We retain a 10% free carried interest.

We provide jobs. Um and uh you know, good support for the community and they want to keep that going

they have permitted a 222 hole uh plan of ops for us. So we are we are permitted right now and bonded at Copper Mountain and we will be starting drilling very soon.

we have to do a 7-day It's going to take us about 7 days to do a a small wildlife survey because there are some raptors around

Our understanding is our area is very, very good. Um the uh it's a mining district as opposed to involved in a lot of other things

I spent the last 22 years at of my career um mostly consulting to various um junior mining companies...then I switched over to uranium and I've spent the better part of the last 10 to 15 years um almost exclusively in uranium

we've just hired uh Carlos Cham, who's a a veteran geologist uh who's worked quite a bit in that area both with uh his own consulting firm as well as IMPACT Silver for almost 20 years

Copper Mountain, just to refresh your viewers, saw 85 million US dollars spent in today's dollars by Union Pacific Railway backed by California Edison, Southern California Edison in the 1970s.

uh our phase one drilling has supported that. We about 15 months ago we concluded our phase one drill program and the grades we got significantly higher

we don't get the same sort of um vein exposure at site, but we do get some uh and it's our belief that there is incredible potential at depth

the gamma probes because of disequilibrium basically discounted or under reported the uranium. And the probe does not pick up the uh the uranium at the at the ends of the of the interval those can be quite uriniferous

We are getting at Copper Mountain a 60% grade boost when we assay. This was not for anything over 1,000 ppm.

for example, three, five, eight bore holes that had exciting results in the 1970s. You know, 85 ft of,200 ppm, that type of thing. That's equivalent grade

That's equivalent grade, which maybe will get boosted with disequilibrium.

Head grades roughly 500 g silver plus significant gold. And uh all to be verified etc

Our our ore in the 1970s they did a fair amount of uh column leach testing where they were getting recoveries 90 to 94%.

We are ground truthing the big new area to the east at Copper Mountain. Uh that includes radiometrics, uh rock samples, etc. We may have news there to confirm to everybody that indeed uh it's not an illusion.

we had to rebuild this company...we're up at whatever $40 million market cap...we had a assets...market cap dropped up to 3 million

We're listed in Canada, the US, and uh Germany. and uh we're looking at moving up to a senior US exchange like NASDAQ or NYC American.

You've what have we got? We got 20 21.5 million new units.

The balance is rising rather than falling because uh warrants and options mostly warrants are coming in.

You got 1.2ish broker warrants out... their their strike price is about 60 60 cents.

I myself and and our my colleagues have invested a lot of personal money into this business.

Now that we have the 43-101 filed, that was a precondition, uh Russia can hold its meeting to approve the merger

You know, great asset... if you could own 100% of the asset and not have divided ownership, that would be even better... merging with Rush that'll increase our market cap also and also give us 100% ownership of the Copper Mountain asset.

We want to list in the US, have a proper listing in the US. We have options. We can do it ourselves.

we think people are going to get the probe results actively as we as we drill and then we'll send things away for assay and the assay results will come in later