by Greg Klein | October 28, 2014
With permits in hand and money in the bank, Lakeland Resources TSXV:LK has a 1,500-metre drill campaign ready to go at its adjacent Gibbon’s Creek and Star properties on the Athabasca Basin’s north-central rim. Announced October 28, the Phase 1 program follows positive results from surface sampling and a DC-resistivity survey, some of the Basin’s highest RadonEx readings and confirmation of a radioactive boulder field showing results up to 4.28% U3O8.
The neighbouring properties host a regional, multi-staged, structural lineament immediately west of the Star Uplift, a basement outcrop about 350 metres by 700 metres, that extends south to the Gibbon’s Creek boulder field about three kilometres away. In addition an east-west resistivity low, interpreted as an alteration corridor, has been found near an historic intercept of 1,500 parts per million uranium.
Surface sampling at the uplift found a gold trend that also revealed platinum group elements, rare earths and anomalous low-grade uranium. Follow-up drilling will test the gold trend and examine basement geology as it relates to the Gibbon’s Creek targets, Lakeland stated.
With depth to the unconformity ranging from 50 to 250 metres, the company anticipates an economical program of shallow drilling. Roads and power lines cross the property, which lies a few kilometres from the town of Stony Rapids.
The company wholly owns Gibbon’s Creek and holds a 100% option on Star.
With one of the Basin’s larger portfolios, Lakeland has also been advancing its Lazy Edward Bay project.
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