Map of the in Sas- katchewan, , where , Ltd. has found the highest grade (24 percent) of ura- nium in the world. Above, Sas- ketchewan Province in Canada.

what we deem is the best discovery in the last 20 years. And why we are excited is that we have found on our original zone, the Roughrider zone, where two years ago, we found that our initial dis- covery hole, of 12 meters, had just Hathor Exploration, Ltd. over 5 percentage by weight of ura-

nium oxide—U3O8.

INTERVIEW: TONY NUNZIATA Question: Wow! Since then we have expanded, and ad- vanced that zone to a 200-meter strike World’s Richest Uranium Ores length. And, we have come up with some phenomenal grades of uranium, including

23 meters of 24 percent U3O8—which is Found in Northern Canada obviously a world class intersection.

Tony Nunziata represents the uranium Question: Canada is now the largest ex- mining company Hathor Exploration, porter of uranium in the world, in min- Ltd., in its Working Capital Corporation ing and exporting, right? division. He was interviewed by Ilko Di- Kazakstan has actually taken over as mov, 21st Century correspondent. number one. The bottom line is: you’ve got Kazakstan, Australia, and Africa: Ni- Question: Please tell us about Canada’s ger and Namibia. They all produce ura- uranium production. nium at less than 0.5 percent U3O8. But We are responsible for almost a quar- Kazakstan has superseded Canada as ter of the world’s production of uranium. overall the biggest producer. And it all comes from this one area in But, the highest grade ore bodies, defi- northern , called the Atha- nitely in the world, the only place you bascan basin. So it is right next to Alber- can find high grade, is in Saskatchewan. ta, and almost right next to the oil sands. This Athabascan basin encompasses a Question: Are there other provinces in number of high-grade discoveries and re- Canada where we have uranium? sults. The biggest deposit is by . Yes, there are other provinces. Labra- Cameco, as a single company, is the big- dor has uranium to a small degree. There gest producer of uranium in the world, have been some issues, against the gov- through a property called the McArthur ernment, and local governments there River Mine. Areva have put a moratorium on any uranium We are excited that Hathor, which is The Athabasca basin in northern Sas- exploration. located just north of McArthur River, has katchewan. The only other main area would be

44 Fall 2010 21st Century Science & Technology CONFERENCE REPORT That’s where a lot of the reactors are be- ing built—you know there are 60 nuclear reactors that are being built currently, and most of them are in that neck of the world. Mind you, almost every country in the world is taking some initiative towards nuclear as part of their power.

Question: What does the Canadian gov- ernment have to say? Because, actually, if you are doing this job, you need support from the Canadian government—a part- nership between the governments, the public, the population of Canada—that when you develop these resources, the Areva/IAEA benefits will stay in Canada. One of the Cigar Lake uranium mine, owned by Cameco, Areva Resources Canada, Idemitsu Can- problems we have, with the privatization ada Resources, and Tepco Resources has run into water problems in its mine shaft. of major Canadian companies, is that right now, we are becoming a banana re- Quebec, obviously, which is resource world is McArthur River. public. A former colony! rich. They have not only uranium, but There is also Cameco at Cigar Lake, I know. Prime Minister Harper just an- quite a host of other mineral resources. which has water problems; they have nounced recently, that a foreign entity Quebec does have a number of mining been trying to rectify that. There’s Midwest can actually purchase more than 50 per- companies that are also exploring for ura- Lake Deposit, right next to our discovery, cent of a uranium mine in Canada. The nium. Now. the big key with Quebec, is which is AREVA’s project. And then down Parliament just passed that. You’re seeing that they haven’t produced uranium for here you have the Wheeler zone of Den- that happen. Look, last month China just quite a long time. As a matter of fact, there niston, and then the , which put a billion dollars into Penn West. Chi- would be an issue there, because econom- is now depleted, but which also has a mill na is making a major thrust worldwide ically, there is no infrastructure in place. there. You can see that it’s almost a direct for resources. In Saskatchewan, in the Athabascan trend, within this geological belt that we In Canada, you know, we are a re- basin, for example, where we are locat- are exploring for the uranium. source-rich country and, fortunately (or ed, we have major infrastructure in unfortunately) China is getting involved in place. We actually have a couple of mills Question: Canada is not enriching ura- all kinds of commodities here in Canada. within a close distance to where our ma- nium, just mining it, unlike France, Is that good or is that bad? Are we looking jor project is. The McClean Lake Mill, for which is producing nuclear fuel and ex- after our future generations, or are we example, is a billion-dollar, most mod- porting it to the international market? selling out our resources? We do have a ern mill producing facility in the world, Oh, no, we are exporting. A good por- lot of resources. . . . But, that is a concern. for uranium. tion of the uranium from the world’s rich- So, here in Saskatchewan, all the infra- est mine . . . goes to places like Japan. We Question: Can you say something about structure, logistics, and environmental, do export to other foreign countries. modernization, efficiency, the new tech- all the areas of concern, have been in nologies going into the industry? place. Quebec has low-grade uranium Question: How many months will you Here in Canada, we are leading edge there, but in order to fulfill any potential need to get the production of this new when it comes to high grade ore. . . . We production of uranium, there has to be a discovery going full scale in this area? have the best technologies in the world, major resource, which would make it ec- It will take time. Right now, because because of the mill facilities in this area, onomically viable to build out infrastruc- we are in the process of exploring, we still to be able to properly produce, with effi- ture—which would take a long time. have a lot of drilling to perform to find out ciency and safety, this high-grade urani- Here [pointing to map] is an outline of the potential size of our discovered area, um. This is the only place in the world the Athabascan basin, on this eastern to make it into a world-class deposit. that you can find high-grade uranium. So side of the Athabascan basin, this corri- After that, obviously for a small com- the logistics are there to be able to prop- dor here, is a geological trend. pany like us, we are talking to major com- erly produce it. It’s leading edge. panies that will potentially partner with China, though on the nuclear power Question: Is that like a fault line? us, or who knows, maybe even buy us out front, is building super-reactors. These Yes. For whatever reason, this geologi- in due time, in regards to fulfilling their are amazing next-generation super-gen- cal trend hosts all the main discoveries requirements. We are talking to the big erator nuclear power plants that are lead- and deposits. That’s where Hathor has majors in the world. We are talking to big ing edge. And they are getting a lot of the concentrated and accumulated all our power utility companies, out of the Far East technology from companies like AREVA properties and concessions. But if you where the nuclear renaissance is occur- and Westinghouse, which are advancing look at the map, the biggest mine in the ring. Namely, China, India, Korea, Japan. all their technologies.

CONFERENCE REPORT 21st Century Science & Technology Fall 2010 45