Western Uranium & Vanadium Corp. Update
2019年9月11日 - 10:05PM
Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF)
(“Western” or ”Company”) The Sunday Mine Complex Vanadium Project
continues to deliver favorable results. The initial sampling from
the face of the mine workings showed V2O5 grades ranging from 3% to
14%. Large quantities of ore were mined to determine expected
production grades. Twelve samples were analyzed from the four mines
from 12 areas mined. The average grade of vanadium was 3.15%.
Development drilling has been underway to expand
the mine production areas. Development drilling continues and
mining of ore has started. Ore will be stockpiled in the
mines until the requirements of the Colorado Division of
Reclamation, Mining and Safety (CDRMS) are completed.
CDRMS issued a letter indicating prerequisite
information and construction projects that need to be finalized
prior to the removal of material (ore) from the Sunday Mine Complex
underground workings. The covering of the low-grade ore stockpile
has been completed. The remaining requirements are underway. Ore
production will continue and be stockpiled underground. Ore
shipments from the mines will commence when the requirements of
CDRMS have been met.
Uranium Section 232 Update/ United States
Nuclear Fuel Working Group
President Trump did not take any action in the
uranium section 232 investigation. Instead in a Presidential
Memoranda, the President directed the establishment of the United
States Nuclear Fuel Working Group (“Working Group”) to develop
recommendations for reviving and expanding domestic nuclear fuel
production through a fuller analysis of national security
considerations with respect to the entire nuclear fuel supply
chain.
This process is currently moving forward quickly
through the Working Group members and their staff. An extraordinary
amount of resources has been committed to this issue as the Working
Group is comprised of senior members of the Trump administration
and agency heads. Last week the Working Group held a stakeholder
roundtable discussion in Washington D.C. which included
representatives from the nuclear industry. The Working Group is now
evaluating the merits of recommendations and proposals to identify
solutions to reinvigorate the entire nuclear fuel supply chain. The
process is scheduled to culminate with a report to President Trump
on or about October 10th. Western’s observation and view is that
the stakeholders comprising the U.S. nuclear fuel cycle are
increasingly finding common ground and this makes it more likely
that significant support will be enacted to secure each stage of
the American nuclear fuel cycle.
About Western Uranium
& Vanadium Corp.
Western Uranium & Vanadium Corp. is a
Colorado based uranium and vanadium conventional mining company
focused on low cost near-term production of uranium and vanadium in
the western United States, and development and application of
ablation mining technology.
Cautionary Note Regarding
Forward-Looking Information: Certain information contained
in this news release constitutes “forward-looking information” or a
“forward-looking statements” within the meaning of applicable
securities laws (collectively, “forward-looking statements”).
Statements of that nature include statements relating to, or that
are dependent upon: the Company’s expectations, estimates and
projections regarding exploration and production plans and results;
the timing of planned activities; whether the Company can raise any
additional funds required to implement its plans; whether
regulatory or analogous requirements can be satisfied to permit
planned activities; and more generally to the Company’s business,
and the economic and political environment applicable to its
operations, assets and plans. All such forward-looking statements
are subject to important risk factors and uncertainties, many of
which are beyond the Company’s ability to control or predict.
Please refer to the Company’s most recent Management’s Discussion
and Analysis, as well as its other filings at www.sec.gov and/or
www.sedar.com, for a more detailed review of those risk
factors. Readers are cautioned not to place undue reliance on
the Company’s forward-looking statements, and that these statements
are made as of the date hereof. While the Company may do so, it
does not undertake any obligation to update these forward-looking
statements at any particular time, except as and to the extent
required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE
CONTACT:
George
Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
Robert KleinChief Financial
Officer908-872-7686rklein@western-uranium.com
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