Cluff Lake

Overview

19 contiguous claims covering 62,233ha (622km²)

• Located within the Carswell geological complex, 7km east of the Cluff Lake Mine which produced 62Mlb U₃O₈at an average grade of 0.92% U₃O₈ and also 2.5km northeast of the Shea Creek uranium deposit.
• Potential for the two main styles of high-grade uranium deposits that occur in the Athabasca Basin; Basement-hosted and Unconformity-type deposits
• The nearby Cluff Lake mine is a mainly basement hosted deposit comprised of four open pits and two underground mines
• Multiple uranium targets identified following compilation of public geophysical and geological data
• Historical data review highlighted by surface geochemical anomalies with up to 0.15% U₃O₈
• Several targets identified in close proximity to the sub-Athabasca unconformity
  • Airborne gravity gradiometry (AGG) survey across 80% of the project area recently completed with interpretation underway
  • 2,755 line kms were flown in the survey, at a line spacing of 200m – the first modern airborne gravity survey completed over the project area.
• The AGG data will help delineate geology and structure that are potentially important in the formation of a uranium deposit. Gravity anomalies can provide direct detection of the hydrothermal alteration associated with a uranium deposit. Hydrothermally altered (de-silicified) rocks have a lower density then the unaltered host rocks and can therefore be identified as gravity lows
• Follow-up on-ground reconnaissance of gravity and historical targets commenced in the September quarter.