While the price of uranium suffered a steep decline after the 2011 Fukushima Daiichi nuclear accident, growing pressures to decarbonize power generation provide support for the commodity, which is currently priced at cyclical lows. Below, we provide an overview of eight companies active in uranium exploration and development.
Appia Energy is involved with rare earth and uranium exploration in the Athabasca basin of Saskatchewan. It holds a 100% interest in the 143.3 sq. km Alces Lake property, 34 km east of Uranium City. Alces Lake is located in the Beaverlodge geological domain with a history of uranium production. A number of near-surface, high-grade, monazite-hosted rare earth element (REE) zones have been found at the property.
The company completed 44 diamond drill holes on the property in 2019, with 40 intersecting monazite, which presents potential for relatively simple metallurgical processing and extraction. In addition, Appia completed channel and grab sampling at Alces Lake last year that led to the discovery of eight new outcrops and showings. These discoveries have expanded the known footprint of mineralization within an area of 500 by 500 metres and identified the Biotite Lake zone, which potentially extends the mineralized strike to 1.8 kilometres.
Continue reading at The Northern Miner.