UrAmerica Ltd. controls 100% of the rights for three exploration permits in the Parana Basin in Paraguay (two through joint ventures with Ita Pora Mining S.A. and Minera Mbujapeju S.A.), which have been filed and are currently awaiting concession. The three blocks encompass 229,205 hectares, within the Itapua, Guaira and Caazapá Departments.
The northern property is in a pre-development stage. The other two properties are at a more advanced stage of exploration, with extensive regional exploration work and reconnaissance scale drilling, carried out by UrAmerica’s predecessor, WILDHORSE EXPLORATIONS S.A., the Paraguayan branch of WILDHORSE ENERGY LTD.
UrAmerica´s properties contain an extensive area of uranium mineralization with several detected Uranium anomalies and an inferred resource of 2M lbs U3O8.
LOCATION & SETTING
UrAmerica´s Paraguay Project is located approximately 300 km southeast of Asuncion, the country’s capital. The three properties lie within an area of rolling hills, at an average elevation of 125m above sea level. The project area is accessible by National Roads N°1 and N°8 or by fixed wing aircraft.
The climate in the southeast of Paraguay is sub-tropical to temperate, with little difference in seasonal temperatures. The mean temperature during the winter months (June to September) is 20°C and ranges from 15°C to 30°C. The mean temperature during the summer months (December to March) is 30°C and ranges from 25°C to 35°C. The average annual precipitation ranges from 75cm to 150cm. Exploration in the area may be carried out all year, although heavy rains during the summer months may affect transportation and exploration activities.
Local infrastructure is available in nearby towns and on site, including electrical power, cell phone network, road building equipment, and industrial and potable water.
The area is covered with extensive lateritic and saprolitic material, and outcrops are rare. Vegetation consists predominantly of tall grasses. Overburden cover ranges from 5 to 15m.
GEOLOGY & MINERALIZATION
UrAmerica’s Paraguay Project is situated within the western part of the Parana Basin in the southeast of Paraguay, which also hosts the Figueira Uranium Deposit in Brazil. The area is underlain by Upper- Permian carboniferous continental sedimentary rocks, of the Independencia Fm. These continental sedimentary units are known to have high potential for sandstone hosted uranium mineralization as proven by previous exploration. The source of the uranium is thought to be the lower Permian-Carboniferous glacial marine sequences of the Coronel Oviedo Formation.
Exploration for uranium in southeastern Paraguay was started in 1976 by the Anschutz Corporation. Airborne radiometric surveys, regional geological mapping and geochemical sampling were the main exploration tools for uranium exploration in the southeast of Paraguay. This was followed-up by core and rotary drilling that delineated an inferred resource of 2M lbs U3O8 (2008 Wildhorse’s Drill Program).
Between 2007 and 2010, Cue Resources completed 256 drill holes, totaling 31,000 meters of core and rotary drilling in the Yuty Project (directly adjacent to UrAmerica’s properties). The current resource for the Yuty Project was finalized in a technical report prepared for Cue Resources dated August 24, 2011. The Yuty Technical Report shows an average grade and resource at the Yuty Project as follows:
Indicated Resource 5.783M tones @ 0.048 % eU3O8 containing 6.113M lbs eU3O8
Inferred Resource 2.139M tones @ 0.047 % eU3O8 containing 2.226M lbs eU3O8
Cue Resources was considering in situ leaching for uranium extraction. Preliminary tests showed an estimated recovery of 86% U3O8.
Cue Resources was aquired by Uranium Energy Corp. in March of 2012.
UrAmerica’s properties lay adjacent to UEC’s Yuty Project. The resources that have been inferred and indicated continue on to these properties, making them highly prospective for uranium exploration.