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Millennium

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Millennium

Millennium

The Millennium Project (“the Project”) is a Joint Venture (JV) between Cameco and Japan (Canada) Exploration Ltd. (“JCU”). UEC has indirect ownership of the project through UEX’s 50% ownership of JCU. The JCU equity in the Project is 30.099% with Cameco Corporation owning the remaining 69.901% and acting as the project operator.

  • Uranium resources identified thus far on the project are 75.9 M lb. U3O8 at 2.39% in the Indicated Resource category and 29.0 M lb. U3O8 at 3.19% in the Inferred category for a total combined resource of 104.9 M lb. U3O8.
  • UEC attributable resources are 11.42 M lb. in the Indicated Resource category and 4.36 M lb. in the Inferred category.

The deposit is ~300 m long and plunges from the unconformity up to ~150 m into the basement. The deposit is hosted in faulted basement rocks at and below the unconformity. The unconformity in the deposit area is about 600 m below the surface. The deposit was discovered in 2000 and is about 35 km north of Key Lake, ~35km to the southwest of McArthur River, and ~13 km west of the Phoenix and Gryphon deposits at Wheeler River. Access to the project is by a series of trails from the McArthur River – Key Lake haul road.