Argentina's Laguna Salada Uranium Mine Confirms 14.3 Million Pounds of U3O8 Resources for the First Time

en.Wedoany.com Reported - On October 13, Canadian mining company Jaguar Uranium announced the first independent mineral resource estimate for the Laguna Salada uranium-vanadium project in Chubut Province, Argentina. The project's indicated mineral resources total 21.1 million tonnes, containing 4.2 million pounds of U3O8 and 31.1 million pounds of V2O5; inferred mineral resources total 34 million tonnes, containing 10.1 million pounds of U3O8 and 57.3 million pounds of V2O5. The effective date of the estimate is October 5, 2026, covering approximately 4.3% of the project's total area.

The resource estimate was jointly prepared by Caracle Creek Chile SpA and Atticus Geoscience Consulting Ltd., in accordance with the U.S. Securities and Exchange Commission Regulation S-K 1300 and Canadian NI 43-101 mineral disclosure standards. The estimate used a net smelter return cut-off value of US$12.08 per tonne, with an average U3O8 grade of 90 ppm and V2O5 grade of 665 ppm for indicated resources; the corresponding grades for inferred resources are 137 ppm and 755 ppm, respectively.

The Laguna Salada project is located in the Patagonia region of Argentina, with mining rights covering 28 mining concession areas totaling approximately 210,284 hectares. The mineralized areas included in this resource estimate comprise Laguna Salada, Pampa de Arroqui, and Buried Lake. The first two primarily involve uranium-vanadium mineralization in near-surface gravel layers, while Buried Lake contains mineralized bodies buried near a stratigraphic unconformity.

The resource model primarily uses sampling data from 2,146 historical test pits and trenches, supplemented by data from 57 historical reverse circulation drill holes to assess subsurface mineralization continuity. The orebody model employs three-dimensional block modeling and ordinary kriging estimation methods, with mineralized areas divided into near-surface mineralized layers and lower mineralized layers constrained by open-pit boundaries.

Jaguar Uranium plans to add approximately 250 test pits and trenches in the Pampa de Arroqui and Laguna Salada mineralized areas, densifying the exploration grid from approximately 200-meter spacing to 100 meters. In the Buried Lake area, the company plans to conduct approximately 1,500 meters of sonic drilling, with an estimated 100 to 150 drill holes, to obtain complete and representative subsurface mineralization samples.

Subsequent technical work also includes metallurgical testing and vanadium recovery experiments, environmental baseline monitoring, and updating the mineral resource model. The company will submit a technical report compliant with NI 43-101 requirements within 45 days of this announcement and file a corresponding mineral resource technical report summary with the U.S. Securities and Exchange Commission.