May Technical Presentation
Uranium Deposits of the Northern Powder River Basin, Wyoming and Montana, U.S.A.
Keith A. Laskowski MSc. Vice President- Bayswater Uranium Corporation
The merger of Northern Canadian Uranium Corporation (TSX-V: NCA) and Bayswater Uranium Corporation (TSX-V:BAY) in December 2007 has consolidated the ownership of historic sandstone-hosted uranium deposits of the Hullett Creek uranium district in northeast Wyoming and deep deposits discovered in the 1970s, located in southeast Montana. Bayswater, through its U.S. subsidiaries NCA Nuclear Inc. and Kilgore Gold Corp., has acquired the following properties and historical uranium resources:
|
Property
|
Short Tons | Pounds eU3O8 | Average % eU3O8 | Thickness (ft) |
| Elkhorn WY | 272,608 | 653,000 | 0.080 0.15 | 11.08 |
| Acadia MT | 2,080,000 | 3,700,000 | 0.125 | 8.0 |
| Mindy MT | 449,000 | 1,400,000 | 0.156 | 6.5 |
| Ella MT | 327,000 | 1,960,000 | 0.30 | 7.0 |
| Totals: | 3,128,608 | 7,713,000 |
Historic uranium resources occur within a broad, north-south trending zone located in the northeastern Power River Basin. The zone extends more than 50 miles (80 km) along a north-south trend, extending from northeast Wyoming into southeast Montana, near Alzada. Within this trend, uranium mineralization occurs within a series of overlapping sandstone-hosted roll-front systems. Mineralization occurs in the Lower Cretaceous Fall River and the Jurassic Lakota Formations. Mineralization is present at depths ranging from near-surface to more than 1800 feet (550 m). The main project activities are currently located east and northeast of the Hauber Mine in Wyoming. The Hauber mine was mined by open-cut and underground mining methods by Homestake Mining C/orporation and produced approximately 2.76 million pounds U3O8 at an average grade of 0.23% U3O8. Bayswater holds 100% interest, subject to variable royalties, in over 58,000 acres of land holdings in 28 separate blocks of lode claims, Wyoming state leases, fee lands and areas of surface rights only. The Company is currently exploring the deposits to confirm and expand the size of the resources in order to bring them to feasibility stage and potential production.