Uranium news from Saskatchewan and elsewhere for June 15 to 21, 2013
by Greg Klein
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NexGen drills Radio, prepares for Rook 1 geophysics
No longer virgin territory, NexGen Energy’s TSXV:NXE eastside Athabasca Basin Radio property is now undergoing its first-ever drill program. In a June 20 release, the company said a 4,000-metre campaign had begun on its flagship project adjacent to and about two kilometres on trend from Rio Tinto’s Roughrider deposit, which hosts 17.2 million pounds uranium oxide (U3O8) indicated and 40.7 million pounds inferred.
The program will test interpreted geophysical anomalies along strike with the Roughrider deposits through the interpreted shear zone towards Radio’s centre, NexGen stated. Drilling began three weeks ahead of schedule and, depending on ground conditions, could continue to late July. NexGen holds a 70% earn-in on the 847-hectare property, with an option to earn the other 30% subject to a 2% NSR.
Also on NexGen’s agenda is a soon-to-begin DC resistivity survey on the southern part of Rook 1, adjacent to the northeast of, and along strike with, the Patterson Lake South project of Alpha Minerals TSXV:AMW and Fission Uranium TSXV:FCU. Repeated high-grade, near-surface results from the 50/50 joint venture drew other explorers into the PLS area near the Basin’s southwestern rim. NexGen’s survey is intended to identify targets for a 1,500-metre program planned to begin in August.
Two conductive anomalies found on Aldrin Resource’s Triple M
At another project adjacent to PLS, ongoing airborne geophysics have so far found two conductive anomalies on Aldrin Resource’s TSXV:ALN Triple M property. In a June 18 announcement, the company interpreted the anomalies as “parallel basement conductive trends analogous to conductors associated with” the Fission/Alpha discovery.
Triple M’s conductive trends are two kilometres and 3.5 kilometres long. The latter “closely parallels a magnetic linear suggesting a basement fault and has localized anomalous conductivity along the entire trend. The two-kilometre conductor trend has sharp magnetic contacts flanking the strong conductive centre,” Aldrin stated. Similar features are found at PLS and most of the Basin’s high-grade uranium mineralization, the company added.
The VTEM magnetic and electromagnetic survey continues, a joint operation that’s flying contiguous PLS-area properties held by Aldrin, Athabasca Nuclear TSXV:ASC, Forum Uranium TSXV:FDC and Skyharbour Resources TSXV:SYH. Lucky Strike Resources TSXV:LKY and Noka Resources TSXV:NX each hold a 25% earn-in option on Skyharbour’s properties.
On June 12 Aldrin announced it was adding infill lines to increase the resolution of its survey from 200-metre to 100-metre spacing. The company holds a 70% option on the 12,001-hectare Triple M property.
Fission plans summer program for North Shore property in Alberta
Saying “there are still many underexplored areas of the Athabasca Basin,” Fission announced plans for its North Shore property on June 17. Located in Alberta on the Basin’s northwestern edge, the project was waiting completion of the Lower Athabasca Regional Plan, a provincial environmental and land use study. This summer’s program now includes a high-resolution airborne radiometric survey as well as ground prospecting, geophysics and radon surveys.
The 55,160-hectare property features several anomalous uranium showings in boulders and outcrop, including sandstone boulders grading up to 1.39% U3O8, the company stated.
Lakeland appoints David Hodge and Ryan Fletcher directors
Lakeland Resources TSXV:LK announced two appointments to its board of directors June 21. With over 17 years’ experience managing and financing publicly traded companies, David Hodge is president of project generator Zimtu Capital TSXV:ZC and a director of Western Potash TSX:WPX, Commerce Resources TSXV:CCE and Pasinex Resources CNSX:PSE. His approach emphasizes team-building, consultation and leadership, as well as a reliance on expert advice.
Ryan Fletcher serves as president/CEO/director of Montan Capital TSXV:MO.P and as a director of Zimtu. He’s been responsible for identifying and sourcing projects, structuring companies and investments, raising capital, business development and marketing.
The newcomers replace Robert Duess and Daniel Wilson, whom Lakeland thanked for their contributions. The company holds nine Basin properties totalling over 100,000 hectares.
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