Uranium news from Saskatchewan and elsewhere for May 24 to 30, 2014
by Greg Klein
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Fission Uranium drills 38 metres of 4.44% U3O8 at Patterson Lake South
Still no word on a resource estimate, but Fission Uranium TSXV:FCU released assays for 10 more infill holes from Patterson Lake South on May 29. The latest batch brings the total reported holes from last winter to 40, with 52 more to come. Nine of the most recent came from R780E, the middle and the largest of five zones along a 2.24-kilometre potential strike that’s open to the east and west. Some of the best results show:
- 0.34% uranium oxide (U3O8) over 21.5 metres, starting at 166.5 metres in downhole depth
- (including 1.47% over 2 metres)
- 0.78% over 5.5 metres, starting at 203 metres
- (including 3.76% over 1 metre)
- 0.64% over 10.5 metres, starting at 215 metres
- (including 4.16% over 1 metre)
- 4.68% over 19 metres, starting at 103.5 metres
- (including 12.32% over 5.5 metres)
- 3.69% over 4.5 metres, starting at 202 metres
- (including 10.67% over 1.5 metres)
- 4.44% over 38 metres, starting at 69 metres
- (including 14.74% over 10 metres)
- 1.05% over 9.5 metres, starting at 187 metres
- (including 3.44% over 2.5 metres)
- 1.16% over 18.5 metres, starting at 120 metres
- (including 3.1% over 6.5 metres)
- 1.05% over 18.5 metres, starting at 75 metres
- (including 4.42% over 2.5 metres)
- 2.96% over 48 metres, starting at 105 metres
- (including 8.67% over 11.5 metres)
Fission Uranium also released one assay from R00E, the second zone from the west and location of the project’s first hit.
- 0.14% over 5 metres, starting at 128.5 metres
True widths weren’t provided.
Back to the R780E assays, Fission Uranium stated they show “the exceptional strength of uranium mineralization in the middle region over a substantial strike length” of the zone.
Aldrin finds radioactivity at Triple M’s Anticline area
The first hole sunk on the Anticline target at Aldrin Resource’s (TSXV:ALN) Triple M property went radioactive, the company announced May 29. A downhole probe found nine intervals totalling 14.6 metres (not true widths) showing “significant” radiation above 300 counts per second for intercepts above 0.3 metres. The nine intervals occurred at downhole depths between 176.6 and 246.2 metres.
Radiation measurements are no substitute for assays. The company noted that radiation could come from potassium or thorium, but radiometric readings have shown some correlation with uranium at the adjacent PLS project.
Aldrin has also drilled seven holes so far on the project’s Forrest Lake fault, reporting preliminary results for the first four in April. The 12,000-hectare Triple M property consists of two blocks west and south of PLS.
Ur-Energy reports Shirley Basin eU3O8, prepares 43-101
Radiometric results announced May 28 follow completion of a 14-hole confirmation drill program at Ur-Energy’s (TSX:URE) Shirley Basin project in Wyoming. Providing the results not as counts per second but as uranium oxide-equivalent, the company found 13 intercepts above 0.02% eU3O8 for intercepts ranging between 1.83 metres and 5.79 metres thick (not true widths). The intercepts started at downhole depths ranging from 68 to 161 metres.
Historically, the Shirley Basin district has hosted low-grade deposits suited to in-situ recovery operations. But this campaign found higher-grade results too, including:
- 0.502% eU3O8 over 2.44 metres, starting at 95 metres in downhole depth
- 0.321% over 3.81 metres, starting at 73.8 metres
- 0.189% over 5.79 metres, starting at 100.95 metres
Now underway is a 43-101 technical report on the property, part of last December’s acquisition of Pathfinder Mines. In August Ur-Energy began ISR production at another Wyoming project, Lost Creek. In May the company revised the mine’s guidance in view of low uranium prices.
Fission 3.0 and Brades report Clearwater West conductors
On May 27 Fission 3.0 TSXV:FUU and Brades Resource TSXV:BRA announced more detailed results from a previously reported VTEM survey. The companies now say 24 conductive areas have been located on the Clearwater West joint venture, five coinciding with anomalous radiometric readings. In all, seven high-priority areas have been identified on the eastern side of the 11,835-hectare property that borders PLS to the north.
Follow-up work will include boulder prospecting and ground-based electromagnetic and DC resistivity surveys to determine drill targets.
The Fission Energy spinco acts as operator and currently holds 100% of the project. Brades has a three-year, 50% option that would call for $5 million in spending by October 2016 and a first-year commitment of $700,000.
New listing enhances Lakeland Resources’ American exposure
Lakeland Resources TSXV:LK made its OTCQX trading debut May 30, marking an important step “as we continue to grow and expand our shareholder base globally,” said president/CEO Jonathan Armes. “The United States is an important market to be active in and we look forward to the increased visibility and exposure that this new listing will offer.”
In April the company announced a 4,475-hectare expansion to its Lazy Edward Bay project, one of Lakeland’s 16 uranium properties in and around the Basin.
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