enCore Energy Corp (TSX-V:EU, NYSE-A:EU) told investors it has gained a clear competitive advantage over other uranium exploration and development companies with the acquisition of the global licensing rights to the proprietary Prompt Fission Neutron (PFN) technology and equipment from Energy Fuels Resources, a subsidiary of Energy Fuels, Inc.
The company said the US$3.1 million deal includes the related exclusive intellectual property and means it can achieve close to real-time assays for uranium that can’t be gained using conventional coring and assay methods.
"PFN technology is far superior to traditional downhole gamma measurements where an array of different elements emits a collective gamma signature which may or may not correlate well with the actual uranium content,” enCore CEO Paul Goranson said in a statement.
“We have already seen the benefits of the technology in the past with reliable uranium resource estimates derived from PFN that were confirmed by historical production results. We are using this proven PFN technology right now as we install our production patterns in our soon to be producing wellfields.”
enCore said the PFN technology is particularly relevant to its South Texas properties where in-situ geochemical conditions allow some of the radiometric components, such as uranium, to be out of equilibrium with their gamma signatures. It is already using the technology to delineate ore bodies ahead of installing production wellfields at the South Texas Rosita and Alta Mesa ISR uranium projects, it said.
The PFN technology directly measures downhole U3O8 (triuranium octoxide) ore grade versus traditional Total Gamma and Spectral Gamma methods which measure radioactivity emitted from a variety of elements associated with uranium, it explained.
enCore said Energy Fuels has retained the right, subject to availability, to purchase, lease, and/or license at least one fully functional PFN tool and all related and/or required equipment, technology and licenses as may reasonably be requested solely for their use, for a period of up to 20 years.
Contact the author at stephen.gunnion@proactiveinvestors.com