Company |
Investors |
Uranium Projects |
Videos |
News |
About Uranium |
Industry Links |
Uranium ProjectsRed Willow NorthThe 100% owned Red Willow North property, located on the eastern edge of the Athabasca Basin, is 15,493 hectares in size and consists of four claims that cover favourable metasedimentary basement rocks. This property is contiguous with Purepoint’s Red Willow Project being advanced under a joint venture (JV) agreement with Rio Tinto and, to the west, is contiguous with the Denison Mines/Virginia Energy JV Hatchet Lake project. Very little drilling has been conducted on the Red Willow North property with most being drilled to relatively shallow depths. The newly interpreted Golden Eye Shear Zone extends for over 6 kilometers and joins the historic FDL showing (up to 1.43% U3O8) and the AJ showing (up to 0.46% U3O8). Recent airborne electromagnetic (EM) and magnetic survey results indicate that the Red Willow Osprey conductor, on which drilling by Purepoint has returned intercepts of up to 0.20% eU3O8 over 5.8 metres, continues on the Red Willow North property for over 5 kilometers. The historic Turkey conductor, which has returned intercepts of up to 0.16% U3O8 over 1.0 meters, is now interpreted to continue untested for over 5 kilometers on the Red Willow North property. A radioactive boulder occurrence consisting of approximately 125 radioactive boulders and one radioactive outcrop within an area of 1.5 km by 240 m is located one kilometer to the southwest (down-ice direction) of Red Willow North. Uranium mineralization is associated with sheared and fractured biotite quartzite, pegmatite and graphitic gneisses with the best assays obtained from the regolith (1.43% U3O8). The most western claim covers Topping Island located on Hatchet Lake. An historic five kilometer long EM conductor, arcuate in shape, has been outlined on the island. The conductor appears to be the eastern terminus of the conductive trend that hosts theRichardsonLakeand Crooked Lake Zones on Denison Mines/Virginia Energy’sHatchetLakeproperty. A 12-hole, 2,300 metre drill program has been approved by Denison/Virginia for the Richardson-Crooked Lake target and is planned for February of this year. Historic drill holes in the Richardson-Crooked Lake target area have returned uranium and polymetallic base-metal (Co, Cu, Ni, Zn, As, Au) intercepts. Thursday October 13, 2011 Tuesday February 8, 2011 |
