Triton Uranium announced on Tuesday that it has completed four technical reports for the Atlas project in Saskatchewan, estimating the potential for low-grade uranium at this project to be 46.56 million pounds (U₃O₈). This potential includes satellite points and exploration target areas across the properties.
Details of Uranium Resources
The large, low-grade open-pit model has optimized the resource estimates for the Red Rock mine. This includes a measured mineral resource weighing 276,702 tons with a grade of 0.087% U₃O₈, which approximately contains 531,052 pounds of U₃O₈. Additionally, there is an estimated mineral resource weighing 20,946 tons with a grade of 0.060% U₃O₈, which includes about 27,840 pounds of U₃O₈.
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Exploration Plans and Industrial Impacts
The Atlas project is located in the Uranium City area of Saskatchewan, which has been inactive for 44 years. Triton aims to revitalize this area to become a scalable supplier of uranium in North America. This news comes as Canada and the United States accelerate their efforts to strengthen the supply chain of critical minerals continent-wide under the Canada-U.S. Critical Minerals Action Plan.
Canada, as the second-largest producer of uranium in the world after Kazakhstan, is working to double its uranium exports by 2035 and has announced new plans for reactor construction and SMR development. These actions have led to increased demand for securing domestic uranium reserves.
Triton's exploration program continues to expand the understanding of the exploration potential of the Atlas project. An airborne radiometric survey recently identified approximately 11,035 meters of new areas close to the surface. These areas are currently being evaluated through a 10,000-meter drilling program, with additional drilling planned for the 2026/2027 winter campaign.
Triton's approach utilizes historical mining activities in the area and employs modern extraction and processing technologies. The company anticipates that its infrastructure-ready model will expedite permitting processes and reduce construction timelines.
Once fully operational, the Atlas project will be the only low-cost open-pit uranium mine on the continent. Greg Stanton, President of Triton Uranium, stated, "With the increasing demand for nuclear energy, Saskatchewan plays a vital role in supplying uranium as a reliable source for Canada and the United States."
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