The Moonshine Springs Project covers approximately 1,000 acres (400 hectares) in Mohave County, Arizona. The property was previously explored by Exxon Corp. and Pathfinder during the 1970s and 1980s. Uranium mineralization occurs in at least three stratigraphic zones within the Triassic Chinle Formation.

The upper two zones, at an average depth of 170 feet, are considered open pit candidates, while the lower zone lies at a depth of 760 feet. Most mineralization occurs below the groundwater surface (120 feet depth), suggesting potential amenability to in-situ recovery (ISR), which remains under evaluation.

Historical exploration at the Moonshine Springs Project was carried out by Exxon Corp. and Pathfinder during the 1970s and 1980s. Pathfinder, as referenced in a Cogema Mining 2004 internal report, historically reported the upper sand to contain 1.44 million pounds of U3O8 at an average grade of 0.325% using a cutoff of 0.15% in an open pit configuration with a strip ratio of 8:8:1. Exxon reported a global resource figure for the two upper sands of 3.67 million pounds of U3O8 at a grade of 0.15%, as well as an estimated resource for the lower sand of 1.0 million pounds of U3O8 at a grade of 0.26%. Exxon also noted that drilling intercepts of six feet or more grading 0.35% U3O8 were not uncommon. In addition, Energy Fuels, in its 1993 second and third quarterly reports, cited an uncategorized historic resource of 3.6 million pounds grading 0.186% U3O8 utilizing a cutoff of 0.05% U3O8, a minimum thickness of one foot, and a GT of 0.5.