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Argentina - Energía Mineral (Inc.) S.A.
Calypso Uranium is active in Argentina with large highly prospective uranium properties located in the provinces of Chubut, Mendoza and Neuquén. The company is among the best positioned in Argentina to move from exploration to production given that several of the properties include resources previously confirmed by the Comisión Nacional de Energía Atómica (CNEA - national atomic energy commission).
Through our local branch Energía Mineral (Inc.) S.A., Calypso now controls more than 447,000 hectares or 4,470km2 of claims and mineral concession lands in Argentina. In Mendoza, these include: past uranium producers Huemul, Arroyo Seco and Agua Botada in the Pampa Amarilla district; La Pintada in the Sierra Pintada uranium producing district (currently in "stand-by"); and Ranquil-Co. In Neuquén these include: the Central Block, including the uranium districts of Chihuidos and Las Carceles; and the Campesino Norte Block, with uranium-copper-vanadium Uravan Mineral type mineralization. The Central Block is the largest holding and represents the first uranium in situ recovery ("ISR") potential project being explored in the country. In Chubut, these include properties in the uraniferous San Jorge Basin, where the Cerro Solo deposit with geological resources of 12,207 tonnes is located.
United States -- Sage Creek Minerals (Inc.)
While maintaining our principal focus on the development of our Argentine uranium projects, in June 2008, Calypso Uranium launched our first activity in the United States by entering into an option agreement with EM International Inc. ("EMI") to acquire a 50% interest in the Sage Creek claims, in Converse County, Wyoming. The Sage Creek claims are being operated by Sage Creek Minerals Inc., Calypso's wholly owned US subsidiary.
The Sage Creek claims include approximately 390 unpatented lode mining mineral claims with in situ recovery ("ISR") potential in the prolific southern Powder River Basin, in Converse County, Wyoming. The Sage Creek Claims Project is located next to the largest uranium production facility in the USA, Cameco's Smith Ranch-Highland mine, with proven and probable reserves for 12 million pounds U3O8 and which uses ISR technology.
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