Uranium
Numerous uranium occurrences have been discovered in 7 distinct regions of Argentina, including western Argentina where the company has 3 projects covering a total of 58,600 hectares in the Neuquen Basin.
Projects overview
Argentina has the most advanced nuclear energy sector in South America, but has no domestic uranium production. The country's nuclear policy is one of expansion, and NewEra’s objective is to supply Argentina’s nuclear power plants with uranium.
- The largest uranium deposit in western Argentina, the Sierra Pintada mine (12,500 t U) is situated approximately 150 kms north east of NewEra's Molly project in the Malargue uranium district.
- The Malargue district hosts the Huemul mine which was the site of the first uranium mining in Argentina in the 1950s.
- The Molly project is proximal to the Huemul mine.
Molly Project
Summary
Location
No of cateos
1
Total area
5,900 ha
Ownership
100% NewEra Metal Resources Ltd
Overview
The Molly project is located approximately 6 kms north of the Huemul uranium mine which was discovered in 1954 by the Argentine government and operated from 1955 to 1976. The mine produced approximately 500,000 pounds of U3O8, approximately 175,000 pounds of V2O5 and 5.2 million pounds of copper from approximately 130,000 tonnes of ore averaging 0.21% U3O8, 0.11% V2O5 and 2.00% Cu.
The project contains a mapped U-Cu occurrence and the same Upper Cretaceous age grey fluvial sandstones and conglomerates (Diamante Formation) which host the Huemul Mine. These sediments, which are typically cemented by abundant bitumen (a uranium “collector”), and fill palaeo-channels, strike approximately north – south.
At Huemul, mineralized lenses up to 2 m thick comprise pitchblende and uranyl vanadates as the principal uranium minerals. Chalcopyrite, minor chalcocite and covellite accompany the uranium mineralisation. The presence of copper and vanadium as potential by-products will have a positive impact on the project economics.
The Molly project benefits from excellent access and infrastructure being situated 40 km south of Malargüe town along principal Route 40. The old Huemul mine workings are located approximately 1 km west of Route 40.
Los Chihuidos and Quemado Projects
Los Chihuidos Project
Summary
Location
No of cateos
10
Total area
44,700 ha.
Ownership
100% NewEra Metal Resources Ltd
Quemado Project
Location
No of cateos
1
Total area
8,000 ha.
Ownership
100% NewEra Metal Resources Ltd
Overview
The Los Chihuidos and Quemado projects are located approximately 80 km north and 55 km northeast respectively of Zapala town in the Añelo Department, approximately 200 km west of Neuquén, the capital of Neuquén Province.
The licenced areas form part of a uraniferous district which covers a wide area characterised by the bleaching and alteration of Cretaceous sandstones that contain abundant carbon debris and hydrocarbons. Anomalous uranium, vanadium and copper occur at regional formational contacts which have regional extent, indicating the potential for new discoveries of uranium in this central part of the Neuquén Basin.
Uranium values up to 2,282 ppm U (0.23% U) have been reported historically from surface samples.
