LABRADOR – The Nunatsiavut government has lifted the moratorium it imposed three years ago on the exploration, development and mining of uranium on lands belonging to the Labrador Inuit.. The ban was imposed to give the government time to create an environmental protection act and regulations that will assure Inuit participation in any mineral activity.
Several Canadian mining companies were hunting for uranium in the area when the ban was imposed. The most advanced project was probably the Michelin project owned by Aurora Energy, since 2011 a subsidiary of Western Australia’s Paladin Energy. The Michelin project was in the advanced exploration stage, and a positive preliminary economic assessment was made public in 2009.
The Michelin deposit is located in the Central Mineral Belt, 140 km north of Goose Bay. It contains 7.1 million tonnes at 0.08% U3O8 in the measured category, 23.0 million tonnes at 0.11% U3O8in the indicated category, and 16.0 million tonnes at 0.10% U3O8 in the inferred category. Paladin has five other deposits in the region, and the company’s potential uranium oxide inventory could be as high as 135 million lb. (PaladinEnergy.com.au)
Mega Uranium of Toronto has already announced plans to complete follow up drilling at the Aillik East and Bruce River properties. These form the Mustang Lake project, a joint venture of Mega (66% and operator) and Virginia Energy Resources (34%) of Vancouver. Earlier work at the Aillik East property returned 10 metres of 0.048% U3O8. (MegaUranium.com)
Vancouver-based Crosshair Energy also has claims in the Central Mineral Belt. Its CMB project has an indicated resource of 6.9 million tonnes at 0.034% U3O8 and an inferred resource of 8.17 million tonnes at 0.032% U3O8. The company has also made estimates of the vanadium content in the deposit. Crosshair also operates a joint venture project (CMB JV) including the Two Time zone and the Firestone, South Brook, Running Man and Big Bear prospects. (CrosshairEnergy.com)