The Cree Extension-Millennium project is a Cameco-operated joint venture located in the southeastern portion of the Athabasca Basin, approximately 35 km north of the Key Lake operation.
The project includes the Millennium deposit which was discovered in 2000. We own 70% of the project.
|Estimated resources (Cameco's share)||53.0 million lbs (indicated), average grade U3O8: 2.39%
20.2 million lbs (inferred), average grade U3O8: 3.19%
|Other possible features||
We believe that we have some of the best undeveloped uranium projects in the world. However, in the current market environment our primary focus is on uranium production and our tier-one assets. We continue to await a signal from the market that additional production is needed prior to making any new development decisions.
At Millennium, no work is planned for 2016, as regulatory activity related to our final environmental impact statement continues to be on hold. Further progress towards a development decision is not expected until market conditions improve.
A number of studies have been completed to evaluate the potential effects during the construction, operation, and decommissioning of the Millennium project.