Comparison of Uracan to Forsys Metals Corp |
|
Source: 2006 and 2008 NI 43-101
Technical Reports, Internal Reports |
Source: NI 43-101 Report on
Valencia Deposit, June 2007 |
|
URC |
FSY |
| Market
Capitalization (approximate) |
$13,600,000 |
$579,000,000 |
| Resource
Class |
Inferred. |
Measured, Indicated and
Inferred. |
| Cut-off
Grade |
0.009% U3O8. |
0.006% U3O8. |
| Tonnes |
74.2 Mt. |
256.6 Mt. |
| Average
Grade |
0.012% U3O8. |
0.011% U3O8. |
| Contained
Lbs U3O8 |
19.97 M Lbs U3O8. |
62.1 M Lbs U3O8. |
| Location |
Quebec Canada |
Namibia Africa |
| Power |
Quebec Hydro powerline 5 km from
site. |
20 km to nearest powerline. |
| New
Hydro Project on Romaine River to provide 1,500 Mw potential from 4 dams,
starting 2013. |
Namibian Government says they
will be able to provide power for project in future. |
|
Forsys has provided cash advance
to NamPower to build infrastructure required. |
| Road |
Paved highway across property, 7
km to Double S. |
96 km dirt road to site from
nearest town (Usakos). |
| Surface
access in winter, helicopter in summer. |
|
| Can
easily build 7 km gravel road from highway. |
|
| Port
access |
10 km to St. Lawrence Seaway and
ferry port at Baie Johan Beetz. |
272 km to only port in Namibia
at Walvis Bay. |
| Existing
deep water shipping port at Havre St. Pierre, 60 km west of property. |
|
| Water |
Plentiful local fresh water-
inexpensive and simple. |
Desalinated seawater by pipeline
- costly and technologically complex. |
| Mining Infrastructure |
QIT Lac Allard Iron-Titanium
Mine near Havre St Pierre. |
Rossing U mine approximately 30
km SW of property, U producer since 1973. |
| Sept
Iles main export terminal and regional hub for Iron mines in Labrador/Quebec.
Open pit mines are only mines in area. |
Other exploration stage U
properties in area. |
| Experienced
mining labour and equipement easily available in region. |
|
| Other
exploration stage U properties in area. |
|
| Status |
Initial NI 43-101 Inferred
Resource completed July 2008.
Intermediate Exploration Stage. |
Mining License for development
of deposit received August 2008. |
|
Equipment being purchased for
mining operations, definition drilling underway. |
|
Mine construction in early
stages with pit design underway. |
| Climate |
Boreal Forest - long cold
winters, short warm wet summers , ample precipitation |
Desert - hot and dry year round,
limited precipitation |
| Property Geology |
Located within the Grenville
Orogenic Belt; a major high grade metamorphic event comprised predominantly of migmatites and
gneisses, gneissic textured S-type granites. |
Central Zone of Damata Orogenic
Belt, high metamorphic grades and
voluminous granitic intrusions. |
| There
are at least two ages of pegmatite development in area; early and late. |
All U bearing granites are in
the Central Zone. |
| Granites
are alkali leucocratic granitic pegmatites (alaskite). |
Granites are alkali leucocratic
granitic pegmatites (alaskite) |
| Intrusives
surrounded by highly metamorphosed sediments. |
Intrusives surrounded by highly
metamorphosed sediments. |
| Complex
intrusive history |
Multiple intrusive phases (at
least 7 phases of intrusion in area of Double S Zone). |
Multiple intrusive phases (at
least 8 intrusive phases). |
| Mineralogy
of Intrusives |
Quartz, Alkali Feldspar +/-
Biotite. |
Quartz, Alkali Feldspar +/-
Biotite. |
Magnetite and hematite main
accessory minerals |
Tourmaline, apatite, garnet and
iron as accessory minerals |
|
Various accessory minerals are
locally very important in different areas of the deposit. |
| Metamorphism
of Intrusives |
Little or no metamorphism of
intrusion; post dates Grenville Metamorphism. |
Generally low grade
metamorphism. |
| Structural
Deformation |
Undeformed. |
Some structural deformation of
intrusives. |
| Grain
Size of Intrusives |
Variable, from fine grained to
very coarse grained (Pegmatitic). |
Variable from aplitic to very
coarse grained (Pegmatitic). |
| Uranium
Minerals |
Preliminary petrography
identified Uranophane, Uraninite, Uranothorite with very minor secondary U
minerals. |
Uraninite, uranophane,
uranothallite. |
| Deposit
Type |
Intrusive Type. |
Intrusive Type. |
|
|
|
Uracan is an advertiser on 321energy and we have participated in a private
placement in the past. We are biased and we expect investors to do their own
due diligence.
But with 25% of the size and similar grade in far more friendly environment,
Uracan is selling for less than 3% of what Forsys is selling for. Uracan is
cheap by any measure.
We believe peak oil is real, we believe peak oil is past and uranium is a
good buy right now.
