Mineral Resources
The Lance Mineral Resource Estimate was updated in September 2026 and incorporates drilling completed to 31 December 2025. It was prepared by independent consultant Western Water Consultants, Inc. (d/b/a WWC Engineering) in accordance with the JORC Code (2012 Edition).
59.0 Mlb
Lance Project Mineral Resource Estimate
31 December 2025
6.9 Mlb
Dagger Project Mineral Resource Estimate
October 2023
Lance Project Mineral Resource Estimate – 31 December 2025
Classification | Tonnage (Mt) | Average Grade (% U3O8) | U3O8 Metal (Kt) | U3O8 Metal (Mlb) |
|---|---|---|---|---|
Measured | 3.8 | 0.052 | 2.0 | 4.3 |
Indicated | 11.7 | 0.051 | 5.9 | 12.9 |
Inferred | 38.5 | 0.049 | 18.9 | 41.7 |
Total | 53.9 | 0.050 | 26.7 | 59.0 |
The Lance Mineral Resource Estimate is reported using a grade cut-off of 0.02% U3O8 (200ppm) and a grade x thickness cut-off of 0.2 GT. Resource grades have been adjusted using an appropriate disequilibrium factor. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Lance Mineral Resources by project area
Project area | Tonnage (Mt) | Average Grade (% U3O8) | Contained U3O8 (Mlb) |
|---|---|---|---|
Ross | 7.3 | 0.046 | 7.4 |
Kendrick | 16.8 | 0.054 | 19.8 |
Barber | 29.8 | 0.048 | 31.9 |
Total Lance | 53.9 | 0.050 | 59.0 |
Dagger Project Mineral Resource Estimate – October 2023
Classification | Tonnage (Mt) | Average Grade (% U3O8) | Contained U3O8 (Mlb) |
|---|---|---|---|
Inferred | 3.0 | 0.104 | 6.9 |
Total | 3.0 | 0.104 | 6.9 |
The Dagger estimate is reported using a grade cut-off of 0.02% eU3O8 (200ppm) and a grade x thickness cut-off of 0.2 GT. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.