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Posts tagged ‘total rare earth oxides’

Athabasca Basin and beyond

June 29th, 2013

Uranium news from Saskatchewan and elsewhere for June 22 to 28, 2013

by Greg Klein

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Fission/Alpha strike gold at PLS, report geochem results

Patterson Lake South’s potential might go beyond the stuff of yellowcake to include yellow metal. After releasing all those high-grade, near-surface uranium assays, Alpha Minerals TSXV:AMW and Fission Uranium TSXV:FCU finally reported high-grade, near-surface gold on June 24. Where it was found, the gold frequently correlated with high-grade uranium, although the reverse wasn’t always true. But they did find gold in all three zones.

Some highlights include:

Zone R390E

  • 1.58 grams per tonne gold over 63.5 metres, starting at 82 metres in downhole depth
  • (including 8.8 g/t over 2.5 metres)
  • (and including 35.6 g/t over 0.5 metres)
  • 1.02 g/t over 53 metres, starting at 95 metres
  • (including 2.6 g/t over 10.5 metres).
Uranium news from Saskatchewan and elsewhere

Zone R00E

  • 1.9 g/t over 20.5 metres, starting at 65.5 metres.

Zone R780E

  • 1.71 g/t over 7 metres, starting at 144 metres
  • (including 4.48 g/t over 2.5 metres).

True thicknesses weren’t available. The 50/50 joint venture partners pointed to other uranium-gold occurrences in the western Athabasca Basin including Cluff Lake, which produced over 16,000 gold ounces in 1987, and the high gold grades reported from the UEX Corp TSX:UEX/AREVA Resources Canada Shea Creek JV. But Fission and Alpha cautioned that Athabasca gold typically occurs irregularly, making extraction viable only with a mineable uranium deposit.

The companies also reported that, unlike some Basin deposits, PLS has shown low arsenic values. High arsenic requires more costly processing and disposal, the partners stated.

Additionally, geochemical work showed strongly anomalous boron related to the hydrothermal alteration in and around uranium mineralization. “The extent of the alteration halo around the mineralization can enlarge the target area and be used as a guide to focus on an area in a suitable geophysical setting,” the companies stated.

Project operator Fission plans to resume drilling in July, part of a program jointly budgeted at $6.95 million.

$6-million program for PLS-area’s largest package proposed by Skyharbour, Athabasca Nuclear, Lucky Strike, Noka

The plan calls for four companies funding exploration on the Patterson Lake South area’s largest land package. Under a memorandum of understanding announced June 24, Skyharbour Resources TSXV:SYH and Athabasca Nuclear TSXV:ASC would combine their Basin properties into one 287,130-hectare bundle, with Lucky Strike Resources TSXV:LKY and Noka Resources TSXV:NX also contributing to a two-year, $6-million campaign.

The properties include Athabasca Nuclear’s Preston Lake, 26 kilometres south of the PLS discovery, and Skyharbour’s adjacent West Patterson, South Patterson and Draco properties. Also included are Skyharbour’s nearby North Patterson, RY and South Basin properties, and its 11,769-hectare Wheeler claims in the eastern Basin.

Noka and Lucky Strike already hold a 25% earn-in each on Skyharbour’s properties. The MOU would give Athabasca Nuclear a 25% option on the properties as well. The other three companies would each get 25% options on Athabasca Nuclear’s 125,375-hectare Preston Lake. Lucky Strike and Noka would each fund $1 million of exploration per year for two years, while Skyharbour and Athabasca Nuclear would each put up $500,00 a year.

Cash and shares would change hands as Noka and Lucky Strike each pay $100,000 and issue $100,000 in shares to each of Skyharbour and Athabasca Nuclear. The latter two would issue each other shares worth $100,000.

Finally, the four companies would form a JV. They hope to sign a definitive agreement by June 30.

Speaking to, Skyharbour president/CEO Jordan Trimble emphasized that the plan minimizes his company’s risk and future equity dilution. “We decided this approach made the most sense from both an exploration standpoint and a financial standpoint,” he said. “This will also create value-added synergies that will further improve our chances of raising money and making a new discovery.”

Already underway at the PLS-area properties is an airborne VTEM-plus time domain survey, to be followed by radiometrics later this summer. Another co-operative effort, the surveys are jointly funded by Skyharbour, Athabasca Nuclear, Aldrin Resource TSXV:ALN and Forum Uranium TSXV:FDC to explore their contiguous claims.

Plans call for further exploration by the newly announced strategic alliance, with operator Athabasca Nuclear consulting with the other geological teams as well as Alpha’s 43-101 technical report for PLS. “They’ve really written the book on how to discover deposits in this specific area,” Trimble said.

Read more about the four-way strategic alliance.

International Enexco JVs with Denison on Bachman Lake

A JV announced June 25 brings together International Enexco TSXV:IEC and Denison Mines TSX:DML on the Bachman Lake project, about four kilometres from Cameco Corp’s TSX:CCO proposed Millennium mine in the southeastern Basin. Enexco may earn 20% of Bachman by funding $500,000 of exploration by year-end. Denison remains project operator. The 11,419-hectare property is scheduled for a helicopter-supported 1,900-metre drill program beginning in August to focus on three conductors identified by geophysics and historic drilling.

Twenty kilometres northeast Enexco holds a 30% interest in the 3,407-hectare Mann Lake project, a JV with operator Cameco (52.5%) and AREVA Resources Canada (17.5%). In Nevada, Enexco has a feasibility study underway on its Contact copper project.

Kivalliq releases assays from its Angilak project in Nunavut

Exploration drilling on two new zones at Kivalliq Energy’s TSXV:KIV Angilak project produced a batch of assays released June 27. Some highlights from the Nunavut property show:

ML zone

  • 0.46% uranium oxide (U3O8), 0.48% copper, 0.15% molybdenum and 53.6 g/t silver over 4.3 metres, starting at 90.2 metres in downhole depth
  • (including 1.42% U3O8, 0.64% copper, 0.4% molybdenum and 139 g/t silver over 1.2 metres).

J1 zone

  • 0.06% U3O8, 0.08% copper, 0.01% molybdenum and 8.3 g/t silver over 1.3 metres, starting at 38 metres
  • 1.06% U3O8, 0.28% copper, 0.03% molybdenum and 3.6 g/t silver over 0.3 metres, starting at 60.1 metres
  • 0.56% U3O8, 0.05% copper, 0.28% molybdenum and 15.5 g/t silver over 0.6 metres, starting at 77.2 metres
  • (including 1.31% U3O8, 0.09% copper, 0.66% molybdenum and 33.9 g/t silver over 0.3 metres)
  • 0.15% U3O8, 0.05% copper, 0.07% molybdenum and 9.2 g/t silver over 0.2 metres, starting at 114.8 metres.

Intercepts are estimated true widths. Kivalliq president Jeff Ward said the two zones show geological similarity and proximity to current deposits on the project’s Lac 50 trend, which has a March 2013 inferred resource of 2.83 million tonnes averaging 0.69% U3O8, Canada’s highest-grade uranium resource outside the Athabasca Basin.

Kivalliq operates the 138,000-hectare project, 225 kilometres south of Baker Lake, in partnership with Nunavut Tunngavik Inc. Drilling resumes in July.

Macusani releases assays from Peru, says resource updates are imminent

In southeastern Peru, Macusani Yellowcake TSXV:YEL announced drill results from the Chilcuno Chico anomaly on its Kihitian property. Some highlights from the June 26 release include:

  • 0.121% U3O8 over 17 metres, starting at 220 metres in downhole depth
  • (including 0.346% over 4 metres)
  • 0.172% over 4 metres, starting at 103 metres
  • 0.032% over 41 metres, starting at 248 metres
  • (including 0.308% over 3 metres)
  • 0.056% over 16 metres, starting at 35 metres
  • 0.059% over 9 metres, starting at 232 metres
  • (including 0.163% over 2 metres).

True widths weren’t available. With 45,000 metres since 2011, drilling has delineated an area about 1,050 metres by 1,100 metres, where the Manto B zone remains open in all directions. Macusani believes the project’s Quebrada Blanca anomaly forms part of the same mineralized sequence as Manto B.

The company has two drills turning at Chilcuno Chico and two more at its Tupuramani project, also on the Macusani Plateau. Resource updates for Colibri 2 and 3/Tupuramani and for Chilcuno Chico/Quebrada Blanca are expected within days.

Read more about exploration and mining in Peru.

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Athabasca Basin and beyond

June 15th, 2013

Uranium news from Saskatchewan and elsewhere for June 8 to 14, 2013

by Greg Klein

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Cameco’s Cigar Lake granted mining licence

With production slated for Q4, Cameco Corp TSX:CCO got the final go-ahead to mine Cigar Lake uranium on June 13. The Canadian Nuclear Safety Commission issued the mining licence following a 1990s environmental assessment, a stalled construction phase and a one-day public hearing. “The licensed facilities include underground mine workings accessed by two mine shafts, a surface load-out facility, waste management systems, a mine water management system and associated site facilities,” the CNSC stated. Cameco expects jet-boring to begin this summer.

The world’s second-largest known high-grade uranium deposit, Cigar Lake’s bounty holds:

  • proven reserves of 233,600 tonnes averaging 22.31% uranium oxide (U3O8) for 114.9 million pounds U3O8
  • probable reserves of 303,500 tonnes averaging 15.22% for 101.8 million pounds.

Those reserves give Cigar Lake a 15-year lifespan. With full production expected in 2018, it’s expected to give up 18 million pounds annually.

Cameco’s Cigar Lake granted mining licence

A Cameco crew installs freeze pipes at Cigar Lake
to protect against seeping water and leaking radiation.

The peak of construction could employ up to 500 workers, while production would require about 250 people. Jet-boring will extract the highly radioactive material using water pressure to carve underground caverns and push an ore slurry to underground grinding and thickening circuits, then to surface. The ground first must be frozen to prevent water seepage and radiation leakage. Processing will take place at the McClean Lake mill, 69 kilometres away.

Construction actually began in 2005. But the project hit delays due to flooding in 2006 and 2008. Cameco finally dewatered the workings in 2010 and restored the underground infrastructure the following year.

Located near Waterbury Lake on the Athabasca Basin’s eastern margin, Cigar Lake is a four-way joint venture in which project operator Cameco holds 50.025%, AREVA Resources Canada 37.1%, Idemitsu Canada Resources 7.875% and TEPCO Resources 5%. Another JV, the McClean Lake mill is held 70% by operator AREVA, 22.5% by Denison Mines TSX:DML and 7.5% by OURD Canada.

Pele Mountain increases Eco Ridge inferred U3O8 136%, REO 130%

Replacing a previous uranium-rare earths resource in the project’s July 2012 preliminary economic assessment, Pele Mountain Resources TSXV:GEM released a June 10 update for its Eco Ridge project in Elliot Lake, Ontario. The resource now shows:

  • an indicated category of 22.74 million tonnes averaging 0.045% U3O8 and 1,606 parts per million total rare earth oxides for 22.55 million pounds U3O8 and 80.51 million pounds REO, or 49.83 million pounds U3O8-equivalent
  • an inferred category of 36.56 million tonnes averaging 0.047% U3O8 and 1,554 ppm REO for 37.62 million pounds U3O8 and 125.25 million pounds REO, or 81.84 million pounds U3O8-equivalent.

The inferred numbers represent a 130% increase in total REO and a 136% jump in U3O8. The indicated category rose 10% in both REO and U3O8. The update shows “substantial increases in critical REO resources including neodymium, dysprosium, yttrium, terbium and europium oxides, as well as in scandium oxide resources,” the company stated.

Pele Mountain added that two higher-grade zones start at surface, which could allow higher-grade production during the first years of mining.

Working in Elliot Lake between 1956 and 1996 Rio Algom, later incorporated into BHP Billiton, and Denison produced over 300 million pounds of U3O8 and significant quantities of yttrium and heavy REO from deposits similar to that of Eco Ridge, Pele Mountain stated. The mining camp is about 160 kilometres west of Sudbury.

Aldrin increases resolution of PLS-area airborne geophysics

Aldrin Resource TSXV:ALN will add infill lines to an airborne geophysics survey already underway over the Patterson Lake South area. Announced June 12, the decision will increase resolution from 200-metre to 100-metre spacing over conductive anomalies found on the company’s 12,001-hectare Triple M property. Aldrin interprets the anomalies as linear basement conductors over three kilometres long, parallel to a magnetically defined fault.

The company holds a 70% option on Triple M, which sits nine kilometres south and 11 kilometres west of the PLS discovery. High-grade, near-surface results from the Alpha Minerals TSXV:AMW/Fission Uranium TSXV:FCU 50/50 JV excited interest in the area in and around the Basin’s southwestern rim. The helicopter-borne VTEM magnetic and electromagnetic survey already underway is a joint project that’s flying contiguous properties held by Aldrin, Athabasca Nuclear TSXV:ASC (formerly Yellowjacket Resources TSXV:YJK), 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.

Aldrin stated the infill lines will help locate drill targets for early winter 2014.

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Pacific Wildcat reports Kenya Assays of 1.27% Niobium over 54.4m, 6.06% TREO over 44m

February 9th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPacific Wildcat Resources Corp TSXV:PAW announced results from its Mrima Hill Niobium and Rare Earth Deposit in Kenya.

Niobium assays include
1.27% niobium over 54.4 metres
0.81% over 74.5 metres
(including 1.14% over 15.2 metres)
0.9% over 43.2 metres
(including 1.44% over 16 metres)
0.48% over 70.9 metres
(including 0.95% over 10.7 metres)
1.03% over 24.3 metres

Total rare earth oxide assays include
6.06% total rare earth oxides over 44 metres
(including 8.94% over 14 metres)
7.23% over 27 metres
(including 12.62% over 1.5 metres)
6.03% over 35.5 metres
(including 9.97% over 5.1 metres)
8.92% over 24.5 metres
(including 13.34% over 2 metres)
5.63% over 28.8 metres

Pacific Wildcat has a conditional contract granting it the right to acquire an indirect 70% interest in Mrima Hill. The project has a July 2011 resource estimate of 105.3 million tonnes grading 0.65% niobium for a total of 1.52 billion pounds niobium.

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Don Willoughby
Corporate Communications Manager

by Greg Klein