Pitchfork Mine
- Historic production of +80K lbs U3O8, +450K lbs V2O5
- Mine was last active prior to 1970
- Ranchers Exploration 1979 +100 drill hole program identified significant surface and near-surface mineralization
- Geology: fluvial deposits of the Jurassic Salt Wash Member of the Morrison Formation and carbonaceous limestones of the Pennsylvanian Hermosa Formation
- Ranchers Exploration resource estimates:
- Low cut-off: 822,000 tons, 0.04% U3O8, 0.22% V2O5, 657,600 lbs U3O8, 3,616,800 lbs V2O5
- High cut-off: 70,250 tons, 0.18% U3O8, 0.97% V2O5 (1:5.4), 245,000 lbs U3O8, 1,400,000 lbs V2O5
- Low cut-off: 822,000 tons, 0.04% U3O8, 0.22% V2O5, 657,600 lbs U3O8, 3,616,800 lbs V2O5
- Underground mine development cap-ex of $3.5M
- Located on Private Property in Colorado (600 acres)
- Growth potential by extending west from Pitchfork drill-out and at Bald Eagle Mine (Hermosa Fm.)
- Near surface mineralization lends to shallow open-pit/heap-leach operation (allowing for lower grade cut-off), deeper mineralization lends to shrink stoping due to steep dip.