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Posts tagged ‘niger’

Athabasca Basin and beyond

March 21st, 2015

Uranium news from Saskatchewan and elsewhere to March 20, 2015

by Greg Klein

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Step-outs renew Fission’s interest west of PLS resource

The zone’s five previous holes found disappointingly low grades but Fission Uranium’s (TSX:FCU) most recent drilling brings new attention to R600W, 555 metres west of the Triple R deposit that surprised even some of the more optimistic Patterson Lake South-watchers. The most westerly of four PLS zones got five more holes this season, four showing mineralization in basement rock and three suggesting high grades over significant widths, the company announced March 18.

These results, no substitute for the still-pending assays, come from a scintillometer that measures drill core radiation in counts per second.

Hole PLS15-364, 570 metres west of Triple R, hit a composite total of 45.5 metres of mineralization over a 61-metre section starting at 107 metres in downhole depth. A composite 6.44 metres surpassed 10,000 cps, a level sometimes termed “offscale” due to the limitations of earlier scintillometers.

PLS15-352 revealed a continuous 56.5-metre intercept starting at 102.5 metres that included continuous “offscale” readings for 11.77 metres. PLS15-360 showed 25 continuous metres starting at 111 metres, while PLS15-364 gave up 40.5 continuous metres starting at 107 metres.

True widths weren’t available.

The angled holes have expanded the zone’s strike to 45 metres, a 50% increase that extends PLS’s potential strike from 2.24 to 2.25 kilometres. R600W’s lateral width extends up to about 30 metres. Results have “substantially increased our understanding of the geometry and tenure of the mineralization,” said Fission COO/chief geologist Ross McElroy.

While delineation continues at Triple R, R600W has more drilling to come.

Read more about the Triple R resource estimate.

See an historical timeline of the PLS discovery.

NexGen continues to find high grades at Rook 1’s Arrow zone

Its first two batches of winter assays once again have NexGen Energy’s (TSXV:NXE) Rook 1 project vying for attention with Fission’s Patterson Lake South. On March 17 NexGen announced the project’s widest high-grade interval yet, hitting 70 metres of 2.2% U3O8. Two days later the company confirmed an 88-metre strike extension from AR-14-30, an outstanding hole released last October. The results come from Rook 1’s Arrow zone, defined last month as three mineralized shears named A1, A2 and A3.

The star hole from the first batch, AR-15-34b, was a 30-metre step-out from October’s AR-14-30, centrepiece of the A2 shear. Although the new hole’s other intercepts fell far short in grade and thickness, these intervals brought redemption, the first from A2, the second from A1:

  • 2.2% U3O8 over 70 metres, starting at 522 metres in downhole depth
  • (including 8.95% over 11 metres)

  • 0.12% over 32 metres, starting at 697 metres

As for some other highlights:

AR-15-33

  • 0.26% over 12.5 metres, starting at 548.5 metres

AR-15-35

  • 0.33% over 18.5 metres, starting at 394.5 metres

  • 0.49% over 12 metres, starting at 553.5 metres

AR-14-36

  • 0.32% over 51 metres, starting at 167 metres

  • 0.1% over 61.5 metres, starting at 248 metres

True widths weren’t available. AR-14-36 was a vertical hole. The others were sunk at a dip of -70 or -75 degrees.

Assays for two angled holes released two days later inspired additional confidence in A2. Highlights show:

AR-15-37

  • 2.46% over 16.5 metres, starting at 580.5 metres
  • (including 12.85% over 3 metres)

  • 0.34% over 13.5 metres, starting at 602 metres

  • 2.88% over 40 metres, starting at 621.5 metres
  • (including 4.92% over 22 metres)

AR-15-38

  • 0.75% over 6 metres, starting at 664 metres

  • 0.9% over 32 metres, starting at 583.5 metres

Again, true widths weren’t provided. The latter hole confirms an 88-metre strike expansion southwest of AR-14-30, NexGen stated.

The Arrow zone covers about 515 metres by 215 metres with mineralization starting at about 100 metres in depth and now extending to 820 metres. The zone remains open in all directions and at depth.

NexGen has further drilling planned for the A2 shear as well as the newly discovered high-grade area within A3. At last count the season’s program had completed 38 holes, according to the March 19 press release, or 39, according to a February 24 statement. Roughly a third of the 18,000-metre winter agenda has been drilled.

Phase I drilling finds anomalous radioactivity at Lakeland Resources’ Star/Gibbon’s Creek

Uranium news from Saskatchewan and elsewhere to March 20, 2015

The first round of drilling went radioactive at
Lakeland Resources’ Star/Gibbon’s Creek project.

Lakeland Resources TSXV:LK wrapped up a successful 14-hole, 2,550-metre winter program by reporting anomalous radioactivity at its Star/Gibbon’s Creek project on the Athabasca Basin’s northern rim. While assays are pending, initial results also reveal “alteration suggestive of a proximal basement-hosted or unconformity-hosted uranium occurrence,” said company president Jonathan Armes on March 12.

Six holes along a corridor about 1.5 to two kilometres long struck the unconformity at depths of less than 125 metres, finding either anomalous radioactivity, alteration or both. The results confirm the trend as a high-priority target.

Three other holes along a one-kilometre corridor near the head of the Gibbon’s Creek boulder field found the unconformity at depths of less than 110 metres, again intersecting either anomalous radioactivity, alteration or both and confirming another high-priority target.

The readings come from a downhole scintillometer and are no substitute for assays, which will follow. Lakeland attributes background radioactivity to readings of 10 to 100 cps. Results show these anomalous levels of at least 800 cps over 0.3 metres:

Hole GC15-01

  • An average 1,104 cps over 0.4 metres starting at 81.2 metres in downhole depth. The maximum level hit 1,379 cps.

GC15-02

  • An average 1,204 cps over 0.3 metres starting at 99 metres, with a maximum of 1,589 cps

  • An average 1,072 cps over 0.7 metres starting at 99.6 metres, with a maximum of 1,312 cps

GC15-03

  • An average 2,828 cps over 1 metre starting at 107.1 metres, with a maximum of 7,926 cps

GC15-11

  • An average 1,415 cps over 0.6 metres starting at 102.9 metres, with a maximum of 1,740 cps

True widths weren’t available. Along with the other anomalous results, hole GC15-03 is considered highly anomalous.

To further solidify targets, the project also underwent a 270-station ground gravity survey.

“During the coming weeks we will be in receipt of geochemical results for uranium and pathfinder elements such as boron, nickel, cobalt and arsenic,” Armes stated. “As with other historic uranium discoveries within the Athabasca Basin, each successful drill program helps guide the next towards the discovery of a new uranium occurrence.”

The road-accessible project sits a few kilometres from the town of Stony Rapids, with nearby infrastructure.

Lakeland also holds drill-ready projects at Newnham Lake, east of Star/Gibbon’s, and Lazy Edward Bay on the Basin’s southern rim. Late last month the company expanded its holdings to 32 properties totalling over 300,000 hectares, one of the largest portfolios in the Basin region.

As of March 12 Lakeland’s treasury held close to $3 million.

Read more about the Star/Gibbon’s Creek project.

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Athabasca Basin and beyond

October 4th, 2014

Uranium news from Saskatchewan and elsewhere for September 27 to October 3, 2014

by Greg Klein

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Fission continues PLS main zone’s perfect score, gets conditional approval for TSX listing

In a week that saw Fission Uranium TSXV:FCU win conditional approval to move up to the TSX big board, the company maintained this season’s 100% hit rate at Patterson Lake South’s R780E zone. All seven holes released September 29 returned wide mineralization. The main zone now boasts 61 successes out of 61 summer holes.

The results come from a hand-held device used to measure drill core for radiation. They’re no substitute for assays, which are pending.

Among the most recent batch’s highlights, hole PLS14-290 revealed intervals totalling a composite 97.5 metres of mineralization, the shallowest beginning at 113.5 metres in downhole depth. PLS14-298 showed a composite 84 metres, with the shallowest intercept starting at 146.5 metres. PLS14-296 came up with a 94.5-metre composite, with one interval starting at 96 metres. True widths weren’t available.

An innovation to the summer program has been angled drilling from barges over the lake. Now Fission’s emphasizing three “scissor” holes, each sunk north to south at an opposite azimuth to a south-to-north hole. The purpose is to “provide geometry control and confirmation on the mineralization.” PLS14-290, for example, “intersected well-developed mineralization … in an area that had previously only seen moderate results.”

By far the biggest of four zones along a 2.24-kilometre potential strike, R780E shows a continuous strike of 930 metres and, at one point, a lateral width of 164 metres. The project’s mineralization sits within a metasedimentary lithologic corridor bounded to the south by the PL-3B basement electromagnetic conductor.

Still to come are assays to replace the summer’s radiometric results, as well as assays for the final dozen of last winter’s 92 holes. December’s still the target for a maiden resource.

Fission greeted October 3 by announcing conditional approval for a TSX listing. The company anticipates big board trading on or about October 8, retaining its FCU ticker.

In an interview posted by Stockhouse October 3, Fission chairperson/CEO Dev Randhawa contrasted Saskatchewan’s stability with that of other uranium-rich jurisdictions like Uzbekistan, Kazakhstan, Namibia and Niger. Verifying his intention to sell the project, Randhawa told journalist Gaalen Engen, “We have about six or seven Asian and North American companies in the midst of due diligence who are interested in doing private placement and/or taking over the company.”

The previous week Fission closed a $14.4-million private placement and released regional PLS drill results.

Field work and drilling approach for Lakeland Resources’ Star/Gibbon’s Creek flagship

Uranium news from Saskatchewan and elsewhere for September 27 to October 3, 2014

Scintillometer in hand, a geologist prospects
for radiometric anomalies over the Star uplift.

Announced September 29, the termination of an option with Declan Resources TSXV:LAN gives Lakeland Resources TSXV:LK full control of its 12,771-hectare Gibbon’s Creek project, which features boulder samples up to 4.28% U3O8 and some of the Athabasca Basin’s highest-ever radon readings. Three days later Lakeland released rock and soil sample results from its adjacent Star property, showing gold, platinum and palladium, as well as some rare earths and low-grade uranium. Especially when considered for their proximity to a structural lineament that runs through both properties, the results show similarities to major Basin discoveries of high-grade uranium, the company states. With the two properties on the Basin’s north-central margin united as one project, Lakeland has additional field work planned for autumn. That leads up to a drill program slated to begin this winter, if not sooner.

Jody Dahrouge, president of Dahrouge Geological Consulting, told ResourceClips.com of geophysical data showing “a major regional structural lineament that’s about 30 or 40 kilometres in length, and it’s been reactivated many times over 100 million years or more. This is a key ingredient to every uranium deposit in the Athabasca Basin…. Having it reactivated time and time again allows multiple generations of fluid to flow along that structure and deposition of perhaps multiple ore bodies.”

He identified three mineralizing systems within five to 10 kilometres of the structure. The Star uplift, a basement outcrop about 700 metres by 350 metres, was the location of many of the samples showing gold and platinum group elements, along with some rare earths and low-grade uranium.

A massive alteration zone about a kilometre south had historic drill results up to 1,500 parts per million uranium. A few kilometres farther sits the boulder field that graded up to 4.28% U3O8. “Clearly something’s going on and clearly it’s related to the structure,” Dahrouge said.

With drill permits in place, road access from a nearby community, shallow depths, high ground that can be worked year-round and a healthy treasury, Lakeland now plans the next stage of an extensive exploration program for its flagship.

Read more about Lakeland’s Star/Gibbon’s Creek project.

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Athabasca Basin and beyond

July 12th, 2014

Uranium news from Saskatchewan and elsewhere for June 28 to July 11, 2014

by Greg Klein

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NexGen extends Arrow’s reach at Rook 1

The first six summer holes at the Rook 1 project’s Arrow zone have more than doubled the potential strike, NexGen Energy TSXV:NXE stated July 7. Radiometric measurements extended the 215 metres determined by eight winter holes to a potential 470-metre strike open in all directions.

Although assays have been released for the winter program, the company bases its summer results on radiation readings from a gamma spectrometer and a gamma probe. The results are no substitute for assays, which are pending.

Some of the highlights include hole RK-14-37, which totalled a composite 8.1 metres of “off-scale” radioactivity straining the spectrometer’s limit of 9,999 counts per second. The drill hit 17 anomalous intercepts totalling a composite 78.05 metres of mineralization within a 227.8-metre section beginning at 378 metres in downhole depth.

RK-14-34 found 29 intercepts totalling a composite 100.6 metres of mineralization within a 627.9-metre section that started at 221.4 metres in depth.

RK-14-31 found 35 intercepts totalling 125.8 metres of mineralization within a 430.7-metre section beginning at 221.4 metres in depth.

True widths weren’t provided. All six Arrow holes, which totalled 4,324 metres, showed visible mineralization. One hole is still in progress.

About 200 metres away, the Dagger area took in four holes totalling 1,349 metres without showing anomalous radioactivity. In addition to further Arrow drilling, “preparations have been made for regional drilling to continue at Area K (Dennis Lake),” the company stated.

Rook 1 straddles the southwestern rim of the Athabasca Basin, on the northeastern border of Fission Uranium’s (TSXV:FCU) Patterson Lake South.

Fission Uranium drills 12.35% U3O8 over 13.5 metres, 4.68% over 25 metres at PLS

More high-grade assays from Fission Uranium continue to build Patterson Lake South’s R780E zone, focus of the highly anticipated maiden resource scheduled for December. Of nine holes released July 2 from last winter’s infill drilling, all showed mineralization. A half dozen brought especially impressive results. Some highlights include:

Hole PLS14-170

  • 0.35% uranium oxide (U3O8) over 58 metres, starting at 135.5 metres in downhole depth
  • (including 1.2% over 5.5 metres)
Fission drills 13.5 metres of 12.35%, 25 metres of 4.68% at Patterson Lake South

With 39 winter holes still to report,
Fission Uranium has embarked on
a 63-hole summer campaign.

  • 0.31% over 12 metres, starting at 202 metres

  • 2.9% over 20 metres, starting at 217.5 metres
  • (including 8.35% over 4 metres)

  • 0.58% over 11 metres, starting at 260 metres

Hole PLS14-174

  • 0.8% over 25 metres, starting at 105 metres
  • (including 3.45% over 1.5 metres)
  • (and including 2.8% over 1 metre)
  • (and including 4.39% over 1.5 metres)

  • 0.87% over 13.5 metres, starting at 135 metres
  • (including 9.24% over 1 metre)

Hole PLS14-175

  • 0.7% over 21 metres, starting at 120.5 metres
  • (including 3.35% over 2.5 metres)

  • 0.38% over 26 metres, starting at 144 metres
  • (including 1.44% over 2.5 metres)

Hole PLS14-178

  • 0.12% over 25.5 metres, starting at 135.5 metres

  • 0.19% over 15 metres, starting at 164.5 metres

Hole PLS14-179

  • 2.99% over 1 metre, starting at 184.5 metres

  • 2.25% over 8.5 metres, starting at 244 metres

Hole PLS14-180

  • 0.44% over 21 metres, starting at 136.5 metres
  • (including 3.45% over 2 metres)

  • 4.68% over 25 metres, starting at 165 metres
  • (including 18.56% over 5.5 metres)

Hole PLS14-186

  • 12.35% over 13.5 metres, starting at 157 metres
  • (including 23.41% over 7 metres)

  • 1.52% over 2.5 metres, starting at 175 metres

  • 0.9% over 7 metres, starting at 188 metres
  • (including 3.61% over 1.5 metres)

True widths weren’t provided. With five PLS zones stretching east-west along a 2.24-kilometre potential strike, Fission Uranium stated these results show “the continued strong nature of uranium mineralization as the R780E zone moves eastwards.”

Still to come are assays for 39 holes from the 92-hole winter campaign. One week before unloading this latest batch of results, the company announced a 20,330-metre, 63-hole summer program that would eat $12 million of this year’s $28-million budget. As was the case last winter, most of the drilling will focus on delineation for a December resource.

Gold, PGEs and REEs suggest a “robust hydrothermal system” at Lakeland Resources’ Star uranium project

Recently compiled data shows potential for a regional hydrothermal system on Lakeland Resources’ (TSXV:LK) Star uranium property, adjacently north of the company’s Gibbon’s Creek joint venture. That’s the verdict for samples taken last year, which assayed for gold, platinum group elements and rare earth elements, as well as uranium.

The Star property covers “a quasi-circular basement uplift,” a feature considered “an ideal location for the development of uranium occurrences associated with the unconformity or sub-unconformity of the Athabasca Basin,” the company stated July 8.

One outcrop sample assayed 5.7 grams per tonne gold, 0.36 g/t platinum and 0.39 g/t palladium. Another showed 1.8 g/t gold, 0.08 g/t platinum and 0.12 g/t palladium.

A sandstone boulder revealed 257 ppm uranium and 0.3% total rare earth oxides, including 1,216 ppm dysprosium and 321 ppm yttrium. Another outcrop sample showed 6.9% TREO, predominantly light REE-enriched.

The assays further indicate potential for a regional hydrothermal system as “demonstrated by intense alteration associated with historic uranium mineralization within the Gibbons Creek property located immediately to the south,” Lakeland stated. “Within the Athabasca Basin, there are a number of projects where highly anomalous precious metals and/or rare earth elements occur in spatial relation to uranium deposits and/or mineralization. Examples of such mineralization include the Nicholson Bay and Fish Hook Bay uranium-gold-platinum group elements occurrences, and the MAW zone-Wheeler River occurrences.”

The Star project’s now slated for a near-term mapping and sampling program. Lakeland may earn a 100% interest in the property by paying $60,000 and issuing 600,000 shares over 12 months. The vendor retains the option of a 25% buyback for four times Lakeland’s exploration expenses.

Declan Resources TSXV:LAN has an option to earn 70% of the adjacent Gibbon’s Creek JV, which has shown boulder samples grading up to 4.28% U3O8 and some of the Basin’s highest-ever radon readings.

With an acquisition announced late last month, Lakeland now holds interests in 17 properties totalling 164,316 hectares in and around the Basin.

GoviEx debuts on CSE, orders enviro/social assessment for Niger project

The company began public trading just last month but GoviEx Uranium CSE:GXU has been advancing its Madaouela project in Niger since 2008. On July 2 the company announced contracts to complete an environmental and social impact assessment expected to “culminate the detailed feasibility study and environmental work already undertaken.”

Uranium news from Saskatchewan and elsewhere for June 28 to July 11, 2014

Backed by Toshiba and a Cameco subsidiary, GoviEx’s
Madaouela project in Niger moves towards feasibility.

As of March 2013 Madaouela’s seven deposits showed resources totalling 22.92 million pounds uranium oxide-equivalent (eU3O8) measured, 75.3 million pounds indicated and 24.1 million pounds inferred. Included are probable reserves of 25,300 tonnes.

Five of the deposits “have been developed to pre-feasibility level of confidence,” the company states.

The July 2 announcement quoted GoviEx chief executive Daniel Major, “Through the use of proprietary technologies never before used in Niger, our project team has presented a commercially viable project and one that seeks to limit its impact on the environment with a particular focus on limitation of dust, reduction in water usage and commercialization of the molybdenum byproduct resource.”

Executive chairman Govind Friedland’s bio lists a number of accomplishments even after he took part in the 1996 Voisey’s Bay discovery. Friedland went on to graduate from the Colorado School of Mines, provided business development services to Ivanhoe Mines and Ivanhoe Energy, and co-founded Ivanhoe Industries. Yes, he’s the son of that Friedland.

Two Niger mines operated by AREVA produce 7.5% of global supply, ranking the country as the world’s fourth-largest producer. While the government supports mining, the industry has been plagued by terrorist kidnappings and a bombing.

Fission 3.0, Azincourt report scintillometer results from PLN

One of four summer holes at Patterson Lake North shows anomalous radioactivity, JV partners Fission 3.0 TSXV:FUU and Azincourt Uranium TSXV:AAZ reported July 7. Two intercepts of 0.5 metres and 7.5 metres (not true widths) showed variable readings up to 1,450 counts per second on a hand-held scintillometer. Assays are pending.

The hole, PLN14-019, “is still in progress at 258 metres, although no further intervals of mineralization are expected,” the companies stated. The three other holes “intersected anomalous hydrothermal clay altered intervals, associated with structurally disturbed sections. This further highlights the partners’ confidence of the prospectivity and potential of the A1 conductor to host high-grade uranium mineralization.”

This summer’s five-hole program will total about 1,600 metres. Fission 3.0 acts as operator on the 27,408-hectare property, where Azincourt has a 50% earn-in.

Last April the companies reported that winter drilling failed to find radioactivity but did “confirm the high prospectivity of the target areas.”

In late May Azincourt and Macusani Yellowcake TSXV:YEL stated they would extend to June 15 a letter of intent to consolidate their Peruvian assets. That date passed without further announcement. (Update: The companies announced a definitive agreement on July 14.)

Those properties surround a project held by Fission 3.0, which holds interests in nine others in Saskatchewan and Alberta. Along with JV partner Brades Resource TSXV:BRA, Fission 3.0 announced VTEM results from their Clearwater West project in May.

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Athabasca Basin and beyond

May 10th, 2014

Uranium news from Saskatchewan and elsewhere for May 3 to 9, 2014

by Greg Klein

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Paladin releases Labrador infill results, plans Q2 resource update

From Labrador’s Central Mineral Belt, Paladin Energy TSX:PDN announced winter infill drilling results on May 7. Thirteen holes sunk 3,871 metres into the Michelin deposit, with each hole finding mineralization and six revealing significant intervals, the company stated. The best results showed:

Hole M14-151

  • 0.109% uranium oxide-equivalent (eU3O8) over 10 metres, starting at 302 metres in downhole depth
Uranium news from Saskatchewan and elsewhere for May 3 to 9, 2014

Paladin considers Labrador’s Central Mineral Belt “one of the
few remaining under-explored uranium districts globally.”

Hole M14-154

  • 0.14% over 15 metres, starting at 214 metres

  • 0.13% over 8 metres, starting at 256 metres

Hole M14-156

  • 0.095% over 12 metres, starting at 230 metres

Hole M14-158

  • 0.096% over 16 metres, starting at 191 metres

Hole M14-162

  • 0.102% over 28 metres, starting at 348 metres

Hole M14-163

  • 0.114% over 9 metres, starting at 355 metres

Information about true widths wasn’t provided. The deposit remains open in both directions and at depth. On the agenda is a Q2 resource update in which Paladin hopes the last few years of drilling will boost confidence as well as produce a small size increase.

Michelin’s resource currently shows:

  • measured: 7.1 million tonnes averaging 0.08% for 13.06 million pounds U3O8

  • indicated: 23 million tonnes averaging 0.11% for 54.06 million pounds

  • inferred: 16 million tonnes averaging 0.1% for 36.09 million pounds

Adding in five other deposits within 50 kilometres of a potential Michelin mill, the CMB project totals:

  • measured: 8.1 million tonnes averaging 0.08% for 15.1 million pounds

  • indicated: 32 million tonnes averaging 0.1% for 68.7 million pounds

  • inferred: 29.1 million tonnes averaging 0.08% for 53 million pounds

Three kilometres south of Michelin, two holes totalling 561 metres failed to find depth extensions to the Rainbow deposit. But Paladin considers the Michelin-Rainbow trend highly prospective as a result of radiometric surveying, mapping, prospecting and some drilling. Interpretation of a 608-line-kilometre ground magnetic survey will help guide exploration in the Michelin vicinity. More drilling is planned for next winter.

Paladin holds interests in five other exploration projects in Australia and another in Niger. Last February, declining prices forced the company to place its Kayelekera mine in Malawi on care and maintenance. Paladin hopes to close the sale of a 25% interest in its Langer Heinrich flagship in Namibia in June.

Northwest Manitoba radon-in-water might be second only to PLS, MPVC says

Having reported results of a land-based radon survey last month, MPVC Inc TSXV:UNO announced preliminary but optimistic findings from a radon-in-water survey at its Northwest Manitoba project on May 7. “To the author’s knowledge” only Fission Uranium’s (TSXV:FCU) Patterson Lake South has shown higher readings for a water-based survey, MPVC stated. More detailed analysis could change the results by about 10% either way.

Of the 1,399 samples from Maguire Lake, 41 showed results above 100 picocuries per litre (pCi/L), 14 went beyond 200 pCi/L, eight exceeded 300 pCi/L and four surpassed 400 pCi/L.

The readings extend linear trends identified in last month’s land-based survey results, MPVC added.

Still to come are results from a ground gravity survey to fill in areas missed by a 2012 survey. The area has also undergone an airborne magnetic/VLF/radiometric survey in 2006 and an airborne VTEM survey in 2007.

Among future work, the company plans to scan drill cuttings with a high-resolution gamma spectrometer system to “detect young uranium which is not radioactive and therefore not detectible with other field instruments…. The detection of anomalous young uranium, radon or lead 210 ascending along fractures would signal the presence of a uranium deposit at depth.” Drilling might descend as far as 1,000 metres in search of deeper deposits.

Previous prospecting in the area has found in-situ mineralization up to 9.5% U3O8 and boulders grading above 65%.

The company’s 80% option with CanAlaska Uranium TSXV:CVV calls for $3.2 million worth of exploration on the 143,603-hectare project by 2015.

Western Athabasca Syndicate reports initial Preston drill results

The four-company Western Athabasca Syndicate announced preliminary results from seven holes totalling 1,571 metres on their Preston property’s Swoosh target May 6. Five holes showed elevated radioactivity measured by a handheld spectrometer and a downhole probe. The project’s best hole so far, PN14007, found 12 radioactive intervals, one of them 1,432 counts per second over 0.75 metres (not true width). The results are no substitute for assays, which are expected in early June.

The alliance consists of Skyharbour Resources TSXV:SYH, Athabasca Nuclear TSXV:ASC, Noka Resources TSXV:NX and Lucky Strike Resources TSXV:LKY.

Six holes reached downhole depths between 200 and 350 metres while poor drilling conditions eliminated one hole. But all seven “intersected a broad, hydrothermally altered and reactivated structural zone,” the syndicate stated. The six-kilometre-long Swoosh was defined by gravity, magnetic and electromagnetic surveys, and surficial geochemical anomalies.

This month the companies plan at least one hole on each of two other targets, Fin and CHA. Swoosh is slated for additional field work and drilling later this year.

Athabasca Nuclear acts as project operator on the 246,643-hectare Preston property, which the syndicate credits with 15 prospective targets.

Anfield collects Colorado claims

Anfield Resources TSXV:ARY has once again expanded its western U.S. turf with 239 unpatented mining claims on federal land in Colorado. As a result the company now “has access to mineral rights” on more than 7,082 hectares in historic uranium and vanadium districts in Colorado and Utah, according to the May 8 announcement.

Subject to approvals, Anfield gets the claims from Alamosa Mining Corp for 1.95 million shares and three years of payments totalling US$600,000.

The company previously announced Utah acquisitions in March and January. All the Utah and Colorado claims lie within a 193-kilometre radius of Energy Fuels’ (TSX:EFR) White Mesa mill. Anfield also holds claims in Arizona.

European Uranium refines portfolio sale, intends to pursue other assets

On May 9 European Uranium Resources TSXV:EUU announced that the planned sale of its entire portfolio has reached a share purchase agreement with Forte Energy that replaces the companies’ previous binding heads of agreement. As in the original deal, the ASX/AIM-listed company issues EUU 915.93 million shares, valued at $7.5 million, and pays EUU $1 million. The latter retains a 1% production royalty.

But the new arrangement calls for the shares to be issued in instalments to avoid breaching the Australia Takeovers Prohibition. On closing, EUU would get 19.9% of the shares with the rest following “from time to time.”

Nor will EUU distribute Forte shares to its own shareholders. Instead it will sell some of them over time to fund its operations. EUU stated the deal would provide initial funding to pursue options or acquisitions “in multiple commodities in the general European area.”

The Forte deal came together shortly after EUU’s planned merger with Portex Minerals CSE:PAX fell through. EUU’s portfolio consists of two Slovakian uranium projects.

The company closed a $100,000 private placement with Forte in mid-April.

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Partnered and funded

March 20th, 2014

With JV partner Declan advancing their flagship, Lakeland Resources looks at its other Athabasca Basin uranium properties

by Greg Klein

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It must be encouraging to close an oversubscribed private placement just one day after announcing exploration plans. In fact Lakeland Resources TSXV:LK president/CEO Jonathan Armes says his company’s original $2-million offering met overwhelming response soon after its February 24 announcement. Then on March 19, the day after releasing imminent plans for its Gibbon’s Creek flagship, the company closed the placement at $2.83 million. Now, with a healthy treasury and an enthusiastic joint venture partner in Declan Resources TSXV:LAN, Lakeland has more opportunity than ever to pursue its 14 other uranium projects in the Athabasca Basin.

The flagship is Gibbon’s Creek, a 12,771-hectare project that in January showed some of the highest radon levels ever measured in the Basin, along with surface boulders grading up to 4.28% uranium oxide (U3O8). Lakeland’s other 14 projects cover stretches of the northern, southern and eastern Basin. Most of them are wholly owned. All are under-explored.

With JV partner Declan advancing their flagship, Lakeland Resources looks at its other Athabasca Basin uranium properties

Ground exploration at Gibbon’s Creek found radioactive boulders
right at surface, while radon measurements far exceed
those of Patterson Lake South.

Within weeks Gibbon’s Creek will undergo a ground electromagnetic survey to confirm historic work prior to an anticipated 2,500-metre drill program of up to 15 shallow holes. The earlier EM survey was part of previous work by other companies that totalled over $3 million and left a large legacy of data. Late last year Lakeland’s DC resistivity survey mapped a basement alteration found by historic drilling. Surface sampling confirmed historic results showing a high-grade uranium-bearing boulder field.

Another indication of uranium comes from last year’s radon survey. RadonEx Exploration Management found its highest-ever measurements, considerably above those found at Fission Uranium’s (TSXV:FCU) celebrated Patterson Lake South project.

Fission’s success has given Basin explorers standardized methodology. Now Armes wants to extend the practice to some of Lakeland’s other properties.

“Several of our projects are at that stage where we just need to do line-cutting, resistivity and RadonEx to identify drill targets,” he says. “But with all these projects, we know we can’t do them all. We’ll continue to develop other joint venture possibilities, while at the same time compiling data on the projects to identify those we want to focus on.”

The JV approach has been working well at Gibbon’s. In December Declan took on a four-year, 70% option with a first-year work commitment of $1.25 million that accelerates the project’s agenda. President/CEO David Miller, a Strathmore/Fission Energy veteran who joined Declan in late February, says he’s glad to be working on Saskatchewan projects again.

“There’s so much of the Basin that’s relatively unexplored, to me there’s no limit to where you’re going to find more deposits,” he says. “I would say 90% of the Basin is essentially unexplored. I think it would be foolish to say the largest deposit has been discovered.”

Boasting by far the world’s highest grades, Athabasca mines are surviving a uranium price slump that’s shutting down operations elsewhere. Jurisdictional risks, as experienced by AREVA in Niger for example, make Saskatchewan more attractive yet. Global supply could be further threatened should Russia take further advantage of its influence in the former Soviet republic of Kazakhstan, currently the world’s biggest uranium producer. As a result, “I think the Athabasca Basin component in world production is going to get stronger and stronger,” Miller says.

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Athabasca Basin and beyond

February 10th, 2014

Uranium news from Saskatchewan and elsewhere for February 1 to 7, 2014

by Greg Klein

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Fission Uranium releases final summer 2013 assays from Patterson Lake South

Having spent months doling out only occasional assays from last summer’s drilling at Patterson Lake South, on February 5 Fission Uranium TSXV:FCU suddenly dumped results for 20 holes—half of which showed no significant mineralization. They did, however, improve the company’s “understanding of the geological setting and controls of mineralization at PLS.”

The best results came from R780E, the fifth of seven zones along a 1.78-kilometre potential strike. R780E now boasts a 75-metre strike, with a lateral width up to about 60 metres. A few highlights show:

Hole PLS13-105

  • 3.93% uranium oxide (U3O8) over 3 metres, starting at 128 metres in downhole depth
  • (including 10.85% over 1 metre)

  • 1.12% over 3.5 metres, starting at 189 metres
Uranium news from Saskatchewan and elsewhere for February 1 to 7, 2014

Hole PLS13-107

  • 1.94% over 3 metres, starting at 171.5 metres

  • 0.57% over 6.5 metres, starting at 192.5 metres
  • (including 1.58% over 1 metre)

  • 0.23% over 13.5 metres, starting at 251.5 metres

Hole PLS13-108

  • 0.99% over 19.5 metres, starting at 152.5 metres
  • (including 3.46% over 2 metres)
  • (and including 3.92% over 1.25 metres)

  • 0.67% over 6.5 metres, starting at 174.5 metres
  • (including 1.64% over 2.5 metres)

  • 1.33% over 11 metres, starting at 184.5 metres
  • (including 6.52% over 1.5 metres)

  • 3.48% over 4.5 metres, starting at 228 metres

Hole PLS13-109

  • 4.22% over 8 metres, starting at 108 metres
  • (including 11.1% over 3 metres)
  • (which includes 24.6% over 0.5 metres)

  • 0.55% over 17.5 metres, starting at 141 metres

  • 5.89% over 6 metres, starting at 205.5 metres
  • (including 14.57% over 1.5 metres)

Off the lake and onto dry land, zone R600W shows a 30-metre strike and a lateral width up to 20 metres. Some of the better results include:

Hole PLS13-118

  • 0.34% over 6.5 metres, starting at 192 metres

Hole PLS13-121

  • 0.2% over 11.8 metres, starting at 98.7 metres

Hole PLS13-124

  • 0.29% over 6 metres, starting at 97.5 metres

The company also released assays from one hole on the R585E zone, 150 metres west of R780E. R585E now shows a 30-metre strike and a lateral width up to 10 metres. Some highlights from PLS13-106 include:

  • 0.19% over 5.5 metres, starting at 158.5 metres

  • 0.11% over 17 metres, starting at 166.5 metres

  • 0.39% over 12.5 metres, starting at 202 metres

True widths weren’t provided. Holes were vertical or close to it. One R600W hole and nine stepouts east of the zone drew blanks. These results constitute the final batch of summer assays. The current $12-million campaign, including ground geophysics as well as 90 holes totalling 30,000 metres, will primarily try to fill in the gaps separating the high-grade zones.

Rio drills Purepoint’s Red Willow

Rio Tinto NYE:RIO has begun winter drilling at Red Willow, Purepoint Uranium TSXV:PTU announced February 5. About 2,500 metres will test four target areas identified by geophysics, geochemistry and historic assays, the company stated. Rio is nearly halfway into its $5-million option to earn 51% of the 25,612-hectare property by December 31, 2015. The major may spend a total of $22.5 million by the end of 2021 to earn 80% of the eastern Athabasca Basin project.

In another project with some big name buddies, Purepoint began a $2.5-million, 5,000-metre program at its Hook Lake project in January. Cameco Corp TSX:CCO and AREVA Resources Canada each hold a 39.5% interest in the PLS-vicinity property, leaving the junior with 21%.

Continental Precious Minerals updates PEA for Swedish polymetallic project

An updated resource and preliminary economic assessment takes a new approach to Continental Precious Minerals TSX:CZQ Viken uranium-polymetallic project in central Sweden. Using a 6.5% discount rate, the study calculates an after-tax net present value of US$943 million and a 12.9% internal rate of return. Pre-production capital comes to $1.23 billion with payback in 6.9 years from an operation with two open pits and a 34-year lifespan, according to the February 6 announcement.

Viken’s original 2010 PEA considered uranium-vanadium-molybdenum production using fine grinding, tank leaching and roasting. Now Continental plans bio-heap leaching for nickel, zinc and copper sulphides as well as uranium. “This has substantially lowered operating and capital costs, and has led to more robust project economics,” stated CEO/chairperson Rana Vig.

More details will be available on sedar.com within 45 days.

Eagle Plains options out eastside Basin project

Eagle Plains Resources TSXV:EPL announced a definitive option agreement on February 4 for its Tarku property in the eastern Basin. The non-arms-length deal would give Clear Creek Resources a 60% interest for $500,000 cash, $5 million in exploration and 1.2 million shares over five years. Clear Creek may increase its interest to 75% by paying Eagle Plains another $1 million and completing feasibility. Previous work, including historic airborne surveys that found northeast-trending conductors, make the property prospective for both gold and uranium, Eagle Plains stated.

Next month Clear Creek expects to complete a three-way amalgamation with Ituna Capital TSXV:TUN.P and its subsidiary. Eagle Plains holds interests in over 35 properties.

Alpha airborne over Noka’s Carpenter Lake; Noka boosts private placement

Project operator Alpha Exploration TSXV:AEX has begun flying a VTEM and magnetic survey over Carpenter Lake on the Basin’s south-central edge. The 1,892-line-kilometre survey will test the 19-kilometre strike of the Cable Bay Shear Zone, a “major regional shear zone with known uranium enrichment,” Alpha stated on February 3. The work initiates the company’s 60% earn-in on Noka Resources’ TSXV:NX 20,637-hectare property.

About 10 to 14 days have been allotted to this portion of the winter campaign, which will also include radon sampling. Spring and summer should see airborne radiometrics, ground prospecting and geochemical sampling.

With interests in several properties, the Alpha Minerals spinco announced other exploration plans in December and January.

Noka, a member of the four-company Western Athabasca Syndicate, stated on February 6 it would increase a “heavily oversubscribed” private placement from $500,000 to $1.1 million, subject to exchange approval.

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AREVA hostages freed after three years

October 29th, 2013

by Greg Klein | October 29, 2013

AREVA hostages freed after three years in custody

AREVA operates two open pit mines in Niger, the world’s fourth-largest uranium producer.

Kidnappers have released four AREVA employees after holding them hostage for more than three years, the French government announced October 29. Al Qaeda-linked terrorists abducted the group in September 2010 from their residence in Arlit, Niger, where they worked at the uranium giant’s Somair mine. French President Francois Hollande credited their release to the president of Niger, Reuters stated.

The men, Daniel Larribe, Marc Féret, Thierry Dol and Pierre Legrand, were said to be in good health and en route to Niamey in southwestern Niger.

Somair resumed full production in August after a May 23 terrorist attack killed one employee and injured at least 14 others. AREVA’s two Niger mines produce 7.5% of global production, according to the World Nuclear Association.

The Niger operations are held 63.6% by AREVA and 36.4% by a state agency. The French government holds a majority stake in AREVA.

5,000 march against French uranium miner in Niger

October 15th, 2013

by Frik Els | October 12, 2013 | Reprinted by permission of Mining.com

Thousand of protestors marched against French uranium miner AREVA in the remote town of Arlit in Niger on October 12.

AREVA has been operating in Niger for more than 50 years with two currently producing sites, Somair and Cominak, and its long-term deal with the government of Niger is up for renegotiation at the end of 2013.

5,000 march against French uranium miner in Niger

The roughly 5,000 protesters in Arlit were out in support of a Niger government audit to determine how to better distribute revenues from the two mines, Reuters reports:

“We’re showing AREVA that we are fed up and we’re demonstrating our support for the government in the contract renewal negotiations,” Azaoua Mamane, an Arlit civil society spokesman, said in an interview with a private radio station.

“We don’t have enough drinking water while the company pumps 20 million cubic metres of water each year for free. The government must negotiate a win-win partnership,” Mamane said.

The two mines together produce 4,500 tonnes of uranium for export to France. Another project at Imouraren, which will be the largest uranium mine in Africa, is set to start operations in 2015.

The Somair mine was back to full production in August, after a suicide attack in May killed one worker and injured 14.

Prices for uranium are languishing at eight-year lows of $34 a pound and have not recovered since the 2011 Fukushima disaster in Japan despite more than 70 reactors being built around the world, 29 of them in China.

Reprinted by permission of Mining.com

Athabasca Basin and beyond

August 11th, 2013

Uranium news from Saskatchewan and elsewhere for August 3 to 9, 2013

by Greg Klein

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Fission/Alpha report 4 PLS holes, R00E zone still open

So far this summer, three previous step-outs have extended the middle of Patterson Lake South’s trio of zones. On August 8 Alpha Minerals TSXV:AMW and Fission Uranium TSXV:FCU released scintillometer results from four new holes in the southern-most zone, which remains open along strike and width. Along with the results came some interesting speculation about the mineralization.

The hand-held gamma-ray scintillometer readings, which are no substitute for assays, measure radiation from drill core in counts per second. Anything over 9,999 cps is off scale.

A 15-metre step-out testing the western extent of the zone, hole PLS13-074 was drilled to 203 metres in approximate vertical depth, encountering sandstone at 60.9 metres and a basement unconformity at 66 metres:

  • 550 to 1,050 cps over 1 metre, starting at 65 metres in approximate vertical depth
  • 370 cps over 1 metre, starting at 105 metres.
Uranium news from Saskatchewan and elsewhere for August 3 to 9, 2013

The other three holes tested the zone’s centre. Hole PLS13-076 was drilled to 267 metres in approximate vertical depth, encountering sandstone at 54 metres and the basement unconformity at 61.4 metres:

  • <300 to 2,700 cps over 14 metres, starting at 177.5 metres in approximate vertical depth.

Hole PLS13-077 was drilled to 259.5 metres in downhole depth, encountering sandstone at 56 metres and the basement unconformity at 61.4 metres:

  • 340 to 7,500 cps over 11.5 metres, starting at 59 metres in downhole depth
  • <300 to 4,000 cps over 15 metres, starting at 73.5 metres.

Hole PLS13-079 was drilled to 218 metres in downhole depth, encountering no sandstone but hitting the unconformity at 59 metres:

  • 340 to >9,999 cps over 18.5 metres, starting at 82.5 metres in downhole depth
  • (including 5,700 to >9,999 cps over 6.5 metres)
  • 300 to 490 cps over 2 metres, starting at 119 metres.

The 50/50 joint venture partners stated the mineralization “may have been derived from a high-energy erosion of mineralization exposed at the top of a body of basement mineralization on the floor of the Devonian sea. It does not have the characteristics of hydrothermal mineralization such as is seen in the basement mineralization elsewhere.”

Alpha’s news release added, “The Devonian cover appears to be patchy and the uranium boulders in the boulder field down ice did not show any evidence of association with Devonian sandstone lithologies. This is significant as it opens the possibility that the source of the uranium boulders may be located in a nearby window in the Devonian veneer where basement mineralization was scoured by the overriding till sheet as it was pushed towards the west-southwest by the ice. The uranium mineralization encountered to date in the three zones of high-grade mineralization was not the source of the large uranium boulder field down ice.”

The boulder train discovery, announced in summer 2011, brought assays up to 39.6% uranium oxide (U3O8). Since then drilling has attempted to find the motherlode that spawned the glacial migration.

With $6.95 million to spend, the partners continue their 44-hole, 11,000-metre drilling and ground geophysics campaign. Fission acts as project operator until April 2014, when it swaps with Alpha.

UEX releases Shea Creek drill results, updates Douglas River and Hidden Bay

UEX Corp TSX:UEX announced the first five holes from Shea Creek’s summer program on August 6 and also provided updates about its Douglas River and Hidden Bay projects.

Results came from downhole probes measuring gamma radiation, with two holes in the Kianna East zone finding basement mineralization. Hole SHE-142 was drilled to a total downhole depth of 1,056 metres, reaching the unconformity at 726.5 metres:

  • 0.2% uranium oxide-equivalent (eU3O8) over 3.4 metres, starting at 885.3 metres in downhole depth
  • (including 0.35% over 1.2 metres)
  • 0.34% over 2.9 metres, starting at 907.9 metres
  • 0.85% over 22.3 metres, starting at 915.2 metres
  • (including 1.14% over 8.8 metres)
  • (which includes 5.93% over 1.4 metres).

Hole SHE-142-1 reached 1,083 metres in downhole depth, striking the unconformity at 727.4 metres:

  • 0.23% over 1.6 metres, starting at 939.4 metres.

True widths were unavailable. Hole SHE-142 expands the zone approximately 15 metres east of the previously reported SHE-118-24 that found 1.55% eU3O8 over 19.9 metres starting at 943.7 metres, the company stated. Mineralization remains open east and southeast of SHE-142. Hole SHE-142-1 stepped out approximately 35 metres north of SHE-118-24.

Three holes sunk in the Anne South zone to test a prospective conductor found no significant results. UEX holds a 49% interest in the Shea Creek JV, in which AREVA Resources Canada acts as project operator. The companies have now incorporated their 49%/51% Douglas River JV into the Shea Creek project, saying mineralization extends from Shea Creek’s northern boundary into the contiguous Douglas River property. Shea Creek sits about nine kilometres south of the former Cluff Lake mine, a 22-year operation that produced over 64 million pounds of U3O8.

The Athabasca Basin’s third-largest resource after Cameco Corp’s TSX:CCO McArthur River and Cigar Lake, Shea Creek’s April update showed:

  • an indicated category of 2.07 million tonnes averaging 1.48% for 67.66 million pounds U3O8
  • an inferred category of 1.27 million tonnes averaging 1.01% for 28.19 million pounds.

UEX also announced it has shelved its 100%-held Hidden Bay project until spot and long-term uranium prices pick up. In February 2011 the company issued a preliminary economic assessment for the eastside Basin property’s Horseshoe and Raven deposits.

Western Athabasca Syndicate begins PLS-area fieldwork ahead of schedule

Backed by a four-company strategic alliance, fieldwork has begun on the PLS-area’s largest land package. On August 8 Skyharbour Resources TSXV:SYH, Athabasca Nuclear TSXV:ASC, Lucky Strike Resources TSXV:LKY and Noka Resources TSXV:NX announced completion of VTEM plus and radiometric surveys over their Western Athabasca Syndicate Project. After an initial review the companies decided on immediate follow-up work.

The package totals 287,130 hectares, with 275,361 hectares in the vicinity of the Fission/Alpha near-surface, high-grade discovery. On reviewing early survey data, the alliance expanded the survey for a total of 4,840 line-kilometres of VTEM plus and 4,400 line-kilometres of radiometrics to search for conductive anomalies, boulder trains and in-situ mineralization. The surveys focused on the syndicate’s Preston Lake property just south, southeast and west of PLS.

“Originally we were planning on having a field crew up there later in August,” Skyharbour president/CEO Jordan Trimble tells ResourceClips.com. “Now we’ve decided to send them up this weekend because we’re very, very encouraged with what we’ve seen initially.”

One area of Preston Lake especially caught their attention. “There were quite a few targets but this one really lit up,” Trimble says. “So we made the decision to expedite the program and begin the fieldwork immediately. We’ll be employing the same techniques that worked for Alpha and Fission.”

While geophysicist Phil Robertshaw works out a more detailed interpretation of the airborne surveys, ground work will consist of water and soil radon sampling, biogeochemistry, lake sediment and soil sampling, prospecting and scintillometer surveying.

“By the end of September or early October we’ll have spent $1.5 million, with each company contributing towards its 25% earn-in. The four companies with their respective geological teams are working harmoniously on this,” he adds.

“We’re now focused on the northern part of Preston Lake, but we have a large land package. As a four-company syndicate we have more ability to finance and explore. There’s certainly a lot of blue sky potential elsewhere on our properties.”

The current phase should last until early October, he explains. “Then we’ll decide what to do in the fall. There’s still a lot of work that can be done that time of year. Obviously we don’t want to drill just anywhere but if we can get definitive drill targets by then, winter would be the ideal time to drill. The earlier we can get these targets, the better. And that’s the goal.”

Combined, the four companies have agreed to fund $6 million of exploration over two years. Athabasca Nuclear acts as project operator.

Read more about the Western Athabasca Syndicate.

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France’s AREVA running at full capacity after May suicide attack

August 8th, 2013

by Ana Komnenic | August 7, 2013 | Reprinted by permission of Mining.com

France’s uranium miner AREVA has resumed operations at its Somair mine in Niger after a suicide attack in May killed one worker and injured 14.

France’s AREVA running at full capacity after May suicide attack

Somair is running at full capacity two months ahead of schedule, Olivier Wantz, a manager at AREVA, told France’s L’Express.

Production had not been completely interrupted after the incident. Extraction resumed one day after the attack and one of two processing lines was back in order by mid-June. On Wednesday the second line was back in business.

In 2012, Somair reported production of 3,000 tonnes of uranium, which amounts to about two-thirds of the country’s output, Mining Weekly reports.

AREVA has been operating in Niger for more than 40 years with two sites, Somair and Cominak, currently producing. Another project is set to begin extracting in 2015.

Reprinted by permission of Mining.com