Wednesday 7th December 2016

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Posts tagged ‘south korea’

Nuclear power to nearly double by 2040: U.S. Energy Information Administration

May 16th, 2016

by Greg Klein | May 16, 2016

Projected to grow 2.4% annually, nuclear power will remain one of the most important means of generating electricity, says a new report. With last week’s release of International Energy Outlook 2016, the U.S. Energy Information Administration looked at energy markets from 2012 to 2040. Electricity continues to be “the world’s fastest-growing form of end-use energy consumption.”

Nuclear power to nearly double by 2040

The report foresees world net electricity generation increasing 69% by 2040, from 21.6 trillion kilowatt-hours in 2012 to 25.8 trillion kWh in 2020 and 36.5 trillion kWh in 2040.

Renewables will be the fastest-growing source of electricity, with annual increases averaging 2.9%. Natural gas follows with 2.7% a year, then nuclear with 2.4% a year. That increase would almost double nuclear generation from 2.3 trillion kWh in 2012 to 4.5 trillion kWh in 2040.

The EIA sees most of nuclear’s increase coming from emerging countries outside the Organization for Economic Co-operation and Development. The only OECD nation planning a significant increase is South Korea, with an additional 15 GW. Despite that, reductions in Canada, OECD Europe and Japan would cut total OECD nuclear capacity by six GW.

The trend changes radically with non-OECD countries, especially China, India, other Asian economies and the Middle East. The report sees 9.6% average growth in China, adding 139 GW from 2012 to 2040. India would expand by 7.9% for 36 GW. Other non-OECD Asian economies would average 2.9% to add eight GW. Even the oil-rich Middle East would increase nuclear capacity from less than one GW in 2012 to 22 GW in 2030, according to the report.

Uranium prices, however, seem oblivious to such robust projections. At a shareholders meeting last week, Cameco Corp TSX:CCO president/CEO Tim Gitzel bemoaned “levels not seen since 2005.” Having put Rabbit Lake on care and maintenance the previous month, the miner cut its 2016 guidance from 30 million pounds to 25.7 million pounds U3O8.

But noting that the world has more than 60 reactors under construction, Gitzel predicted demand rising about 3% annually, from 170 million pounds this year to 220 million in 2025. “That equates to about three to four more Cigar Lakes being required over those same 10 years—not an easy task, as we know by experience.”

The EIA concedes its projections “are not statements of what will happen, but what might happen given the specific assumptions and methodologies used for any particular scenario.”

Download International Energy Outlook 2016.

March 17th, 2016

The two worlds of precious metals: East and West GoldSeek
Will the diamond price recovery last? NAI 500
The next level of monetary policy: Helicopters dropping money on consumers Equities.com
PDAC 2016: Juniors try different business models to tempt investors Industrial Minerals
Hedge fund chief Warren Irwin’s uranium call and his best metal and oil plays Streetwise Reports
South Korea’s prominence in lithium demand Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse

March 16th, 2016

Will the diamond price recovery last? NAI 500
The next level of monetary policy: Helicopters dropping money on consumers Equities.com
PDAC 2016: Juniors try different business models to tempt investors Industrial Minerals
Hedge fund chief Warren Irwin’s uranium call and his best metal and oil plays Streetwise Reports
And then there was none: Canada sells its gold GoldSeek
South Korea’s prominence in lithium demand Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse

March 15th, 2016

The next level of monetary policy: Helicopters dropping money on consumers Equities.com
PDAC 2016: Juniors try different business models to tempt investors Industrial Minerals
Hedge fund chief Warren Irwin’s uranium call and his best metal and oil plays Streetwise Reports
And then there was none: Canada sells its gold GoldSeek
Five tests for the commodities bounce NAI 500
South Korea’s prominence in lithium demand Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse

March 11th, 2016

PDAC 2016: Juniors try different business models to tempt investors Industrial Minerals
Hedge fund chief Warren Irwin’s uranium call and his best metal and oil plays Streetwise Reports
And then there was none: Canada sells its gold GoldSeek
PDAC 2016 convention exceeds 22,000 attendees Equities.com
Five tests for the commodities bounce NAI 500
South Korea’s prominence in lithium demand Benchmark Mineral Intelligence
Electric car war sends lithium prices sky high Stockhouse

Major car and phone companies might rely on child labour for cobalt: Amnesty International

January 19th, 2016

by Greg Klein | January 19, 2016

Major car and phone companies might rely on child labour for cobalt: Amnesty International

(Graphic: Amnesty International)

 

Children as young as seven in the Democratic Republic of Congo toil in perilous conditions to produce cobalt for lithium-ion batteries, according to an Amnesty International report released January 19. The study casts a pall on companies like Apple, Samsung and Sony which “are failing to do basic checks to ensure that cobalt mined by child labourers has not been used in their products,” the organization alleged.

Child miners work up to 12 hours daily in dangerous conditions, making between $1 and $2 a day, the report states. “In 2014 approximately 40,000 children worked in mines across southern DRC, many of them mining cobalt, according to UNICEF.” Most of the workers lack protective clothing to guard against lung or skin disease.

“It is a major paradox of the digital era that some of the world’s richest, most innovative companies are able to market incredibly sophisticated devices without being required to show where they source raw materials for their components,” said Emmanuel Umpula, executive director of Africa Resources Watch, which collaborated with Amnesty on the report. “The abuses in mines remain out of sight and out of mind because in today’s global marketplace consumers have no idea about the conditions at the mine, factory and assembly line.”

The global cobalt market is unregulated, Amnesty stated, and unlike the DRC’s gold, tantalum, tin and tungsten, cobalt falls outside American conflict minerals rules.

The report charges that Chinese mineral giant Zhejiang Huayou Cobalt Ltd and its subsidiary Congo Dongfang Mining “buy cobalt from areas where child labour is rife,” process it and sell it to three battery component manufacturers in China and South Korea. “In turn, they sell to battery makers who claim to supply technology and car companies, including Apple, Microsoft, Samsung, Sony, Daimler and Volkswagen.”

Amnesty said it contacted 16 multinationals listed as customers of the battery manufacturers. “One company admitted the connection, while four were unable to say for certain whether they were buying cobalt from the DRC or Huayou Cobalt. Six said they were investigating the claims. Five denied sourcing cobalt from … Huayou Cobalt, though they are listed as customers in the company documents of battery manufacturers. Two multinationals denied sourcing cobalt from DRC. Crucially, none provided enough details to independently verify where the cobalt in their products came from.”

The DRC produces at least half of the world’s cobalt, with about 20% of the country’s output coming from artisanal mines, Amnesty stated. According to numbers reported in October by Chris Berry, “cobalt demand is growing by 6% overall with demand in the battery supply chain growing by some estimates at a cumulative annual growth rate of 10% out to 2020…. This is driven almost exclusively by cobalt’s use in the cathode of the lithium-ion battery.”

In responses to the CBC, Apple and Sony said they were investigating their sources while Samsung denied doing business with CDM or Huayou Cobalt. Daimler replied, “We neither source from the DRC or the mentioned companies directly.” Volkswagen stated “to our best knowledge” the company doesn’t use cobalt from CDM, Huayou Cobalt or the DRC. “Microsoft said it is unable to confirm ‘with absolute assurance’ if its supply chain is involved,” CBC reported. “LG confirmed that Huayou is one of its suppliers of cobalt” providing material from the Katanga region of the DRC.

In The Elements of Power, a book published late last year, author David S. Abraham and MetalMiner publisher Lisa Reisman stated that long, complex supply lines prevent many major companies from knowing the origin of the minerals they use.

Download the Amnesty International report.

Canadian mining groups welcome Trans-Pacific Partnership

October 5th, 2015

by Greg Klein | October 5, 2015

In a deal supported by associations representing the country’s mining and exploration sector, Canada will become a founder of the 12-nation Trans-Pacific Partnership. Ottawa announced the agreement on October 5 as a federal election loomed two weeks in the future.

The Canadian government says the TPP will cut tariffs and other barriers, broadening markets for a range of Canadian industries that include metals and mining. The deal also offers Canadian investors in mining and other areas “transparent and predictable access to TPP markets,” the feds added.

Canada’s mining industry has been a strong advocate for liberalized trade and investment flows for many years…. TPP, representing such a massive trade bloc, including critical emerging markets, is a trading partnership Canada must not risk being left out of.—Pierre Gratton, president/CEO of the Mining Association of Canada

In a declaration of support six days previously, the Mining Association of Canada said the country’s metals and minerals exports to TPP members averaged $158.6 billion per year from 2012 to 2014. The group noted, however, pre-TPP tariffs of up to 5% in Australia, up to 7.9% in Japan, up to 10% in New Zealand, up to 20% in Brunei, up to 40% in Vietnam and up to 50% in Malaysia.

TPP negotiations also addressed “numerous challenges that companies currently face in getting products, people and services across borders on a day-to-day basis,” MAC added. “As one of Canada’s largest outward investing sectors—accounting for 10% ($81.5 billion) of the 2013 total—benefiting from the greater certainty, transparency and foreign investment protection that the TPP will enable is important for the mining industry to remain competitive on the global stage.”

The Prospectors and Developers Association of Canada stated its “8,000 members invest significant financial assets across the Asia-Pacific region to explore for and develop mineral deposits. PDAC is particularly supportive of aspects of the TPP that will facilitate two-way investment, including protection for investors that provides greater clarity, certainty and transparency.”

The world’s largest trading bloc, the TPP partners Canada with Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. Conspicuous for its absence is China, the world’s second-largest economy.

Even so, TPP membership represents nearly 800 million people and a combined GDP of $28.5 trillion, the Canadian government stated. The 12 include some of the world’s fastest-growing economies “and this is expected to continue to be the case” as the bloc’s expected to comprise two-thirds of the world’s middle class by 2030 and half of global GDP by 2050. Some 81% of Canada’s total exports already go to TPP countries.

Canada now has free trade agreements with 51 nations which “will give Canadian businesses preferential access to over 60% of the world’s economy and more than 1.3 billion consumers,” according to Ottawa.

Deloitte group to advise Commerce Resources on strategic partnerships, JVs and offtake

November 3rd, 2014

by Greg Klein | November 3, 2014

A firm with extensive overseas connections and experience will help Commerce Resources TSXV:CCE seek opportunities for its Canadian rare earth elements and tantalum-niobium deposits. On November 3 Commerce announced that Deloitte Global Metals & Mining Advisory Group will be “identifying and evaluating processing partnerships, financing joint ventures and/or offtake opportunities.”

Historically, Deloitte has been successful in connecting companies with joint venture partners from China, Japan and Korea and we are excited to be working with them in this region.—Commerce Resources
president Chris Grove

The Commerce Ashram rare earths deposit in Quebec and Upper Fir tantalum-niobium deposit in British Columbia have both produced positive preliminary economic assessments. Backed by a recently over-subscribed $5-million private placement, Commerce has metallurgical studies progressing for Ashram.

The Deloitte group includes over 3,000 M&A advisory professionals, making it one of the world’s largest M&A practices. “The core service team working with Commerce will be based in Vancouver, Beijing, Seoul, Tokyo and Frankfurt, also drawing on experienced Deloitte professionals in Toronto, Singapore, London and Perth,” Commerce stated.

“Historically, Deloitte has been successful in connecting companies with joint venture partners from China, Japan and Korea and we are excited to be working with them in this region,” added Commerce president Chris Grove.

Read more about Commerce Resources.

Read about rare earths in Canada.

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

Athabasca Basin and beyond

August 23rd, 2014

Uranium news from Saskatchewan and elsewhere for August 9 to 22, 2014

by Greg Klein

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Fission widens main zone, plans more step-outs, arranges $12.5-million bought deal

Although infill drilling has been the priority for Fission Uranium’s (TSXV:FCU) summer program, two step-outs have widened Patterson Lake South’s R780E zone, inspiring a 10-hole addition to the campaign. Radiometric results for nine holes released August 18 include one that extended the zone about 30 metres north and another 15 metres south. All nine holes returned wide mineralization, the company stated.

Uranium news from Saskatchewan and elsewhere for August 9 to 22, 2014

R780E is the middle and largest of five zones along a 2.24-kilometre potential strike that’s open to the east and west.

These results, which are no substitute for assays, come from a handheld scintillometer that measures drill core for radiation in counts per second. Last month Fission replaced its old model, which maxed out at 9,999 cps, with a new-fangled gadget capable of measuring up to 65,535 cps. But the company still refers to anything above four nines to be “off-scale.”

By that standard several intervals were well off-scale, with a few reaching past 60,000 cps.

Another innovation introduced last month is barge-based angled drilling, allowing a better understanding of the geometry of mineralization beneath the lake. Encouraged by the widening of R780E, Fission plans another 10 step-outs. That adds 4,700 metres to a summer agenda now expected to total 25,000 metres in 73 holes.

There seems to be little worry about paying for all that. On August 18 Fission announced a $12.52-million bought deal that’s expected to close around September 23. Roughly three months later comes the maiden resource’s due date.

Winter assays reported August 13 further boosted confidence in R780E, while a summer exploration hole released two days earlier showed interesting radiometric results 17 kilometres away. Read more.

NexGen steps out to widen Rook 1’s Arrow zone

If any company can compete with Fission’s top spot as the Athabasca Basin’s number one newsmaker, it might be next-door neighbour NexGen Energy TSXV:NXE. Four “aggressive” step-out holes have extended the company’s Rook 1 Arrow zone from 180 metres to 215 metres in width for a zone that’s 515 metres in strike and open in all directions. The northwest-southeast fence of drilling announced August 20 has also revealed “multiple sub-vertical stacked mineralized shear zones” increasing the company’s hopes of finding additional high-grade areas.

One of the five holes failed to find significant mineralization.

Like Fission’s August 18 news, the results come from scintillometer readings that don’t substitute for assays, which are pending.

So far 25 of 27 Arrow holes totalling 15,318 metres have shown mineralization. Another three holes at Area A, however, failed to find anomalous radioactivity. They tested an electromagnetic conductor that NexGen interprets to be PL-3B, which hosts the PLS discovery.

Lakeland Resources updates three projects, appoints uranium veteran to board

As a busy summer progresses, Lakeland Resources TSXV:LK reported a new addition to its board and further work on one of the largest portfolios in and around the Basin. On August 20 the company announced the appointment of director Steven Khan, a veteran of Canadian investment and corporate governance with specific experience in raising funds and forging joint ventures for uranium companies. The next day Lakeland released a progress update for three of its projects.

The projects are Star, Lazy Edward Bay and Fond du Lac on the northern, southern and eastern margins of the Basin respectively. “That’s the shallowest depth—the depth to the unconformity becomes more shallow as you get closer to the Basin’s margin,” explains president/CEO Jonathan Armes. “At Gibbon’s Creek our target depths are between about 80 and 120 metres below surface. We hope the others will fall into that kind of range so we’ll be drilling 150- to 200-metre holes.”

At the Star property, crews from Dahrouge Geological Consulting have just wrapped up six days of sampling and mapping. They picked up some 73 rock samples and 124 soil samples around a basement outcrop that’s shown anomalous concentrations of gold, platinum group elements and rare earth elements, as well as highly anomalous uranium. The combination suggests a strong hydrothermal system.

“Those are typical pathfinders for uranium in the Basin,” says Armes. “At Patterson Lake South they had gold grades running two or three grams. So with the first pass on our exploration program in late 2013 we had gold grades of four or five grams.”

Lakeland holds a 100% earn-in option on Star, which has year-round road access from the town of Stony Rapids a few kilometres away.

Now that permits have arrived, mobilization to Lazy Edward Bay should begin ASAP, he adds. Under initial scrutiny will be the BAY trend, actually two parallel conductive trends, which will undergo a RadonEx survey. Field crews will also search out boulders or other signs of unconformity-style mineralization.

“We have Lazy Edward drill targets already but a lot of them were defined by yesterday’s technology,” Armes explains. “We’ll use RadonEx and other work to re-interpret the historic data to better define targets.” In all, the property has six known trends.

Lakeland adviser Rick Kusmirski knows the property from his time as president/CEO of JNR Resources. “He dug up some historic data which is very helpful to identify areas to focus on. There’s some historic areas we want to re-visit.”

Also in line for RadonEx is Fond du Lac, initially targeting a coincident geochemical and conductive target. Geologist and Lakeland director Neil McCallum thinks historic work “missed it by a couple of hundred metres,” Armes says.

But while the summer activity continues, he also looks further ahead “from a treasury standpoint as well as our projects. We’re convinced that 2015 is going to see a significant move in uranium prices. If we ever re-visit 2006 and 2007 levels, when there were 50, 60, 70 juniors active, we hope to be ready and get as many drill programs going as possible through the joint venture and prospect generator model, along with any programs we focus on 100% ourselves.”

[Khan’s JV work with Sumitomo and Kepco] was certainly a great experience in negotiating and concluding contracts, and working with them on the joint management committees. That built long-term relationships but also gave me insight into the Asian psyche and some of the issues they have to deal with.—Steven Khan, director
of Lakeland Resources

Just one day before the exploration update, Lakeland announced Steven Khan’s appointment as director. His background includes key positions with uranium companies Energy Fuels TSX:EFR, Strathmore Minerals and Fission Uranium’s predecessor, Fission Energy. He helped found the latter company, holding the role of executive VP. Khan served as president/chairperson of Strathmore Minerals until last year’s takeover by Energy Fuels, where he stayed on as a director until recently.

Khan played an instrumental part in the negotiating team that brought Japan’s Sumitomo Corp into a JV on Strathmore’s Roca Honda project in New Mexico. He also helped bring the Korea Electric Power Corp into two other JVs, with Strathmore on the Gas Hills project in Wyoming and with Fission, leading to the Waterbury Lake discovery.

Khan has nearly 20 years of experience in all aspects of the Canadian investment industry, including fundraising for early-stage private and public companies.

A confluence of factors convinced him to join Lakeland, he says. “I’ve had a long-term relationship with some of the company’s principals and I’ve always been interested in returning to the Athabasca Basin arena after I left Fission Energy in 2010. Strathmore was more focused on the U.S., where I spent the last number of years. That combination of moving back to the Basin, working with a group of people I respect and seeing a number of properties that have potential presented an opportunity for me.”

He says his work with Sumitomo and Kepco “was certainly a great experience in negotiating and concluding contracts, and working with them on the joint management committees. That built long-term relationships but also gave me insight into the Asian psyche and some of the issues they have to deal with.”

Khan thinks Asian companies might revive their previous interest in early-stage explorers. “Before Fukushima they were attracted to earlier-stage projects like Fission had at the time, as well as more advanced projects like those of Strathmore in the U.S. When uranium prices come back I think they’ll be forced to return to earlier-stage projects because most of the advanced projects will have been tied up.”

As for uranium’s current price, “its resurgence has been muted and is taking longer than expected. But I think that in the medium to longer term, demand will certainly outstrip supply.”

“I’m quite excited about getting involved with the Lakeland team and I think the opportunity for the sector is attractive,” Khan emphasizes. “I think there’s going to be more Athabasca Basin discoveries and that bodes well for companies like Lakeland that are properly positioned and properly financed. So for me the timing is good and the interplay of several factors is favourable.”

Read more about Lakeland Resources.

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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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