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Summer campaign confirms drill-ready uranium targets at Lakeland Resources’ Lazy Edward Bay

by Greg Klein | October 30, 2014

Following closely on news from Lakeland Resources’ (TSXV:LK) Star/Gibbon’s Creek project, results from the company’s Lazy Edward Bay property continue to show benefits of a busy summer. Field work on two areas of Lazy Edward revealed anomalous rock samples, soil samples and RadonEx readings, the company announced October 30. Results confirm the prominence of this 26,375-hectare property on the Athabasca Basin’s southeastern edge in Lakeland’s large portfolio.

Summer campaign confirms drill-ready uranium targets at Lakeland Resources’ Lazy Edward Bay

Uranium-bearing rocks with anomalous pathfinder elements
were among the encouraging finds at Lazy Edward Bay.

The Liberty Trend consists of an approximately five-kilometre-long conductive zone intruded by diabase dykes. Near a radioactive spring reported earlier this month, two boulders graded 537 ppm and 896 ppm U3O8, also showing anomalous levels of the pathfinder elements arsenic, cobalt, chromium, nickel and lead.

Two nearby soil samples returned uranium values of 13.7 ppm and 14.8 ppm, along with 2,920 ppm arsenic, 119 ppm cobalt and 112 ppm nickel. An outcrop sample farther south showed low-grade uranium and was also enriched in copper, cobalt and zinc, the company added.

The significance of the Liberty Trend “appears to be a rare combination of favourable geochemistry, geophysics and surface rock samples anomalous in radioactivity coupled with a series of radioactive springs within a complex structural setting,” said Lakeland president/CEO Jonathan Armes. “This confluence of geologic features attests to the potential of this area to host a large mineralizing system.”

The project’s Bay Trend underwent 150 soil samples over a 789-sample radon-in-soil grid. The samples showed several anomalous geochemical results coinciding with previously identified basement conductors. This year’s work further refines the conductors.

Results from both the Liberty and Bay trends confirm high-priority drill-ready targets and Lazy Edward’s place among “the most promising early-stage exploration projects that Lakeland has assembled, which include the Gibbon’s Creek, Star and Newnham Lake properties,” Armes said.

A 1,500-metre winter drill campaign begins soon on two adjacent northern Basin properties, Star and Gibbon’s Creek. Read more here and here.

Disclaimer: Lakeland Resources Inc is a client of OnPage Media Corp, the publisher of The principals of OnPage Media may hold shares in Lakeland Resources.

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