• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 9 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 4 hours OPEC will consider all options. What options do they have ?
  • 56 mins Recession Jitters Are Rising. Is There Reason To Worry?
  • 15 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 6 hours What to tell my students
  • 6 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 18 hours With Global Warming Greenland is Prime Real Estate
  • 7 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 10 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 2 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 1 day In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 22 hours Get First Access To The Oilprice App!
  • 11 hours Flaring is at Record Highs in Texas
Alt Text

Turkey’s Big Nuclear Energy Ambitions

Despite operational challenges, delays and…

Alt Text

The World Can’t Let Nuclear Energy Die

Despite wavering public sentiment and…

Brian Westenhaus

Brian Westenhaus

Brian is the editor of the popular energy technology site New Energy and Fuel. The site’s mission is to inform, stimulate, amuse and abuse the…

More Info

Premium Content

A Wealth of New Uranium Deposits Discovered around the World

The Athabasca basin of Canada hosts some of the world’s largest and highest-grade uranium mines of similar aged rocks. Last week Fission Energy Corp. and its 50% joint venture partner ESO Uranium reported a significant anomalous radioactivity was encountered in the final hole of the companies’ Patterson Lake South property exploration program.

Fission Energy Patterson Lake Uranium Prospect Property
Fission Energy Patterson Lake Uranium Prospect Property.

The Fission exploration follows a find by Hathor Exploration Ltd.. But Fission has a much superior land holding and their find so close to Hathor, which is following the Hathor strike suggests that Fission may have the bulk of the uranium reserve.

Uranium Core Sample Racks
Uranium Core Sample Racks.

Fission is chasing a 2011 high-grade uranium boulder field discovery in hopes of finding the originating vein of basement bedrock holding the hoped for reserve.  This past winters drill program appears to have successfully refined the boundaries of the uranium boulder field source target area to the west of Canada’s Patterson Lake.  Where those high-grade radioactive uranium rich boulders on the surface came from is the million-dollar question.

Fission Energy is only the latest in a series of high-grade uranium discoveries in the Athabasca region of Canada.

Kadapa, Andhra Pradesh, India, may have one of the largest reserves of uranium in the world.  India has been importing uranium to fuel its nuclear power plants from across the world.  A new processing plant has been commissioned to handle the new discovery – or more accurately, upgrade on the known reserve.

New studies indicate that Kadapa in Andhra Pradesh is endowed with one of the largest uranium reserves in the world, some 10 times the original estimates. They have shown that the Tummalapalle location in the district could have reserves of 150,000 metric tons of uranium.

The reserve in India is very different from the Canadian one. Instead of base rock laden with uranium the Indian reserve is dolomite limestone based uraniferous ore.  The Indian effort follows the 2004 discovery of the uranium ore.

Botswana in Africa is also a new hotbed of activity.  The first discovery came in 2006 with the Lethlakane deposit near Serule.  This is no small project either, with a 261-million-pound uranium oxide resource at a grade of 150 parts per million in the rock.  The district exploration is still early as well.  Three other new deposits and a new emerging discovery at the Red Hills prospect have started exploration.

The Lekabolo deposit, discovered in 2010, is at an advanced exploration stage, although a resource is yet to be defined. Drilling indicates that the deposit has the potential to host about five million pounds of uranium oxide at a grade of 150 ppm, a similar grade to that of the Letlhakane deposit, only 20 km (12.5 miles) away.

Small deposits have been found at Mosolotsane and Morolane, each probably hosting about two million pounds of uranium oxide at a similar grade to that of Lekabolo.

An even more curious discovery is at Red Hills.  Here is a large alteration system that indicates large uranium bearing mineralized systems occuring in rocks much older than the Karoo-aged sandstone and mudstone at Letlhakane.  The large Red Hills alteration system is about 1 km × 1.5 km and about 200 m thick. It contains a significant amount of low-grade rare-earth elements and uranium, as well as base and precious metals, namely lead, zinc and silver.

The operating company Impact Minerals calls the Red Hills area a ‘halo’ that could be pointing to a large high-grade uranium deposit. The system may be similar to the high-grade uranium deposits found in similar aged rocks in the Athabasca basin of Canada, which hosts some of the world’s largest and highest-grade uranium mines.

Meanwhile in the major exporting country Kazakhstan, Inkai, a joint venture between Canada’s Cameco Corp. and Kazakhstan’s state-run miner Kazatomprom, is seeking the Kazakh government’s approval by the end of this year to boost uranium output by 33 percent.  Inkai wants authorization to increase production from 1,500 metric tons to 2,000 tons.

Inkai is feeling the heat from all the new competition.  Kazakstan is already a major exporter and means to hold markets share while dozens and soon hundreds of new reactors come on line in the coming years.

It’s going to take along time for even a large growth of reactors to burn through all this uranium.  All the plans to date are for comparatively inefficient reactors getting, optimistically, 5% efficiency.

While the U.S. dawdles over its hysteria and political inhibitions, India can build cheaper nuclear reactors – than even South Korea.  Dr. Srikumar Banerjee, secretary in the Department of Atomic Energy, said India can now manufacture nuclear reactors at $1,700 per unit.

Banwejee said, “Indian companies manufacturing components and systems for nuclear reactors can now do the same work for much less cost. For instance, he said, L&T, which supplies many critical components for the Indian nuclear and defense sectors, can make the large reactor vessel in their new Hazira plant. This is something of an achievement because it’s traditionally been the preserve of Japanese engineering expertise.

There’s plenty of uranium fuel and it looks like hundreds of reactors are going to get built. For a lot of the world economic development and growth are going to be powered and grow quickly with very cheap electrical power.

So be it, while the U.S. left its nuclear gold standard to be picked to pieces by the competition, billions of dollars in sales and thousands of jobs were lost.  Not to mention the incredible risks of proliferation spreading planet wide.

By. Brain Westenhaus

Source: There’s A Lot of New Uranium Resources




Download The Free Oilprice App Today

Back to homepage


Leave a comment
  • Burak on May 05 2012 said:
    it clearly shows us that nuclear energy industry keeps rising.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play