Uranium Exploration In The Chord Project

INTRODUCTION The Chord property was acquired in 1975 from Roy Chord, an early prospector and miner of the area. He had staked numerous claims on the southern flank of the Black Hills in the early 19501s, and by the late 50’s, many small open pit and underground mines had been or were in operation. By the mid 1960's small tonnages of high-grade oxidized uranium ore had been mined from the property. Starting in 1975, Union Carbide conducted a series of exploration programs to determine the remaining economic potential. The previously mined areas were re-examined in order to define additional oxidized mineralization. Meanwhile, a wide-spaced drilling program was initiated to determine the potential for deeper unoxidized deposits. Through the exploration program of 1979, measured minable reserves in excess of two million pounds of contained uranium had been discovered. GEOLOGY The Edgemont District is located on the southern end of the Black Hills Uplift. A succession of pre-Cambrian to Cretaceous Formations is exposed within the core and across the flanks. The uranium host is the lower Cretaceous Inyan Kara Group which is divided into two formations, the Lakota and Fall River Formations (Figure 1). The basal Lakota Formation rests unconformably on the Jurassic Morrison Formation and consists of fluvial channel sandstones