Exploration & Processing - Winter 2010 - (Page 118)
POWERTECH URANIUM CORP . BY BRIAN SALGADO POWERTECH URANIUM CORP. HAS VAST URANIUM RESOURCES THAT ARE READY FOR THE EVENTUAL INFLUX OF NEW NUCLEAR REACTORS. POWERING THE WAY W Powertech Uranium Corp. says it has bountiful uranium resources and industry veterans on its staff. The company develops low-cost uranium properties through in situ methods. COMPANY PROFILE Powertech Uranium Corp. www.powertechuranium.com HQ: Vancouver, British Columbia Employees: 32 Products: Uranium Richard Clement, president and CEO: “There is a tremendous future for nuclear power, which requires uranium for production, and we will be in the mix.” 118 | EXPLORATION-PROCESSING.COM ith a global push for alternative energy, nuclear power has been brought back to the forefront in recent years. Powertech Uranium Corp. is poised to profit from that demand through significant resources in the Rocky Mountain region. Powertech Uranium was founded four years ago as a public shell to acquire the Dewey Burdock properties of Denver Uranium, which was a private company organized by Wallace Mays and Richard Clement. Clement was installed as president and CEO and Mays is COO of Powertech. The company has since acquired additional properties, including Centennial in Colorado, extensions to Dewey Burdock in South Dakota, and Aladdin and Dewey Terrace in Wyoming. The company develops low-cost uranium properties that are amenable to in situ recovery methods. Powertech Uranium then minimizes its risk by developing the known deposits within these properties through 1) short lead times to production and 2) drillindicated resources discovered during the peak years of U.S. uranium exploration in the 1970s and ’80s. According to Clement, Dewey Burdock – Powertech’s first property – has inferred resources of 10.8 million pounds of uranium and has 4,000 drill holes already in place. Centennial has inferred resources of 11.5 million pounds and 3,000 holes. Although Powertech has yet to calculate the resources of Aladdin and Dewey Terrace, Clement expects similar development opportunities at those properties. “There are no resources calculated, but from the geology and geochemistry we’ve encountered, the uranium in these projects should be quite extensive,” Clement says. “They have the potential of being in the same order of magnitude as Dewey Burdock and Centennial.” While the resources and untapped potential are impressive, Clement says Powertech’s most valuable assets are the leadership and industry expertise it houses. Clement has worked in the uranium market since 1969 and holds a master’s degree in geology. The staff combines for more than 200 years of experience in the American uranium industry. The group’s expertise spans all aspects of in situ recovery technology, and it has brought more than 12 operations to both mining and closure stages. WINTER 2010
Table of Contents for the Digital Edition of Exploration & Processing - Winter 2010
Exploration & Processing - Winter 2009
Preparing for an Economic Upturn
Emergency Preparedness Case Study
quasar energy group
The Crossing Co.
Discovery Drilling Contractors
Mantra Venture Group
Alaska Clean Seas
Platinum Group Metals Ltd.
TG Engineering Inc.
Abacus Mining & Exploration Corp.
Advanced Rig Services
Bell Industries Inc.
Canrig Drilling Technologies Ltd.
Equipment Maintenance Services
Galloway Oilfield Construction Ltd.
Latex Construction Co.
PC Gold Inc.
Processes Unlimited International Inc.
Global Industries Ltd.
Herman Oil Co.
Juhl Wind Inc.
MWD Services LLC
Nevada Geothermal Power Inc.
Oski Energy LLC
Powertech Uranium Corp.
Avanti Mining Inc.
BlackBrush Oil & Gas – Texstar Midstream
The Coeur d’Alenes Co.
Vibration Technology Inc.
Exploration & Processing - Winter 2010