by Greg Klein | May 1, 2015
Assays released May 1 show Phase I drilling brought a promising start to Lakeland Resources’ (TSXV:LK) Star/Gibbon’s Creek project. As a result the company plans geophysics and further drilling to complement last winter’s 14-hole, 2,550-metre program on the Athabasca Basin’s north-central rim.
Among highlights from the project’s South trend was hole GC15-03, immediately below the sub-Athabasca unconformity, which showed:
- 333.8 ppm U3O8 over 1.1 metres, starting at 106.8 metres in downhole depth
- (including 0.13% over 0.23 metres)
True widths weren’t available.
The hole also revealed uranium enrichment, strong hydrothermal alteration and the pathfinder elements boron, cobalt and nickel between 106.8 and 133 metres in depth.
Additional anomalous uranium came from two holes north and south of GC15-03:
- 86.7 ppm over 1 metre, starting at 114.2 metres
- 123.3 ppm over 2.1 metres, starting at 103.4 metres
GC15-02, collared near an historic hole that assayed 0.18% over 0.13 metres, showed:
- 120.3 ppm over 1 metre, starting at 101 metres
At the South zone’s eastern end, GC15-10 returned “a strong illite clay alteration assemblage from the unconformity (80.9 metres) to 148 metres’ depth,” Lakeland stated. “This interval corresponds to a zone of strong ductile shearing and local brittle-ductile cataclastic brecciation.”
GC15-06 on the Centre zone tested an area with some of the Basin’s strongest land-based RadonEx measurements. “Highly anomalous geochemical pathfinders were noted throughout the hole, including a zone of uranium enrichment from approximately 41 metres to 109.5 metres in depth.”
The company now plans airborne electromagnetics on the project’s eastern margins, ground gravity at the South trend and additional RadonEx surveys. Further drilling around GC15-06 and the South trend will follow.
“Given the early stage of exploration at Gibbon’s Creek, results obtained from this first round of drilling are very encouraging,” said president Jonathan Armes. “The geochemical, clay and alteration results are suggestive of a nearby basement-hosted or unconformity-hosted uranium occurrence…. Lakeland will have multiple exploration programs ongoing in and around the Athabasca Basin this summer and fall, which should provide for an exciting year.”
With one of the Basin-region’s largest portfolios, Lakeland currently holds 32 properties totalling over 300,000 hectares. Among other drill-ready projects are Newnham Lake, east of Star/Gibbon’s, and Lazy Edward Bay on the Basin’s southern rim.
Last week the company appointed well-known geologist Jody Dahrouge to Lakeland’s board of directors.
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