New Mexico has been selected by Millrock as a focus area for uranium as well as base and precious metal projects for the following reasons:
- For Uranium
- Significant past producer with 163,010 tons of U3O8 produced from 1948 – 1982 (New Mexico Magazine, 1983, v. 5, no. 3).
- Recently developed in-situ mining techniques allow for more environmental-friendly, low-cost-high-margin processing and recovery.
- For Base and Precious Metals
- Large-scale deposits (i.e. Santa Rita and Chino porphyry copper deposits)
- Excellent potential for discovery of blind deposits
- Established Infrastructure
- Demonstrated potential for deposits conducive to underground bulk mining
- Excellent access
- Secure land tenure
- Stable geopolitical climate
- Stringent but practical environmental regulation