Name of the Project
Patterson Lake South (PLS) uranium project.

Location
Canada’s Athabasca basin region.

Project Owner/s
Fission Uranium.

Project Description
A feasibility study has confirmed the Tier 1 PLS project as one of the most economically significant and elite uranium development projects in the world, with a minimal environmental footprint.

The project has a mine life of ten years, with total production of 9.1-million pounds of uranium over the life-of-mine (LoM).

The feasibility study proposes a processing plant with a nominal throughput of 1 000 t/d.

A conventional grinding and leaching circuit will be used for the recovery process.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of C$1.204-billion and an internal rate of return of 27.2%, with a payback of 2.6 years.

Capital Expenditure
The project has an estimated capital cost of C$1.16-billion.

Planned Start/End Date
Construction is expected to take three years.

Latest Developments
Paladin Energy has signed a mutual benefits agreement (MBA) with Buffalo River Dene Nation (BRDN). This is the first MBA signed with indigenous peoples associated with the PLS ,and marks the transition to a new phase of the relationship with BRDN as PLS advances towards construction and operations.

The MBA covers the life span of the project, which is situated within BRDN traditional territory, in the south-western Athabasca basin of Saskatchewan. 

The agreement explains how Fission and BRDN will work together to shape and share in the economic and social benefits the development of the PLS project will bring to the region.

Importantly, the agreement confirms the support and consent of BRDN for the project in all phases, from development to decommissioning and reclamation. 

The agreement also signifies BRDN’s support for the project to provincial and federal regulators, and that mechanisms for continued meaningful engagement are in place as PLS advances through to the permitting and licensing phases.

Key Contracts, Suppliers and Consultants
Tetra Tech (feasibility study); SLR Consulting (resource estimation), Mining Plus Canada Consulting (mineral reserve estimation, mining design, mining infrastructure, mining capital and operating costs); Clifton Engineering Group (environment, permitting, socioeconomics and tailings); and BGC Engineering (geotechnical and hydrogeological aspects).

Contact Details for Project Information
Fission Uranium, tel +1 250 868 8140 or email info@fissionuranium.com