Canadian Mining Journal

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URANIUM EXPLORATION – Manitoba and Ontario


MANITOBA

No one has yet found an economic uranium deposit in Manitoba, but CRESCENT RESOURCES hopes to be the first. It recently agreed to up its interest to 100% in the Boulder Lake property in the northwestern corner of the province. Uranium mineralization was first discovered in 1969, and Crescent plans to begin its own drill program in July 2007.

ONTARIO

The name Elliot Lake was synonymous with Canadian uranium in the middle of the 20th century. DENISON closed its last mine there in 1992, but interest in the area is heating up again. PELE MOUNTAIN RESOURCES has filed a NI 43-101 report on its Elliot Lake uranium project. The company says there are resources of 30 million tonnes grading 0.050% U3O8, containing 33 million lb U3O8. The report was prepared by ROSCOE POSTLE ASSOCIATES, which recommends that a preliminary economic assessment be done.

RAMPART VENTURES is interested in the Sibley Basin-Lake Nipigon area of the province. It is drilling surface showings at its Split Rapids property. Shallow drilling previously returned values as high as 2.99% U3O8 over 1.5 m, and grab samples tested up to 19.9%. Rampart believes the Split Rapids area may host fault zone mineralization similar to that found at Cameco’s Eagle Point deposit in the Athabasca Basin.

URSA MAJOR MINERALS is selling its former Agnew Lake uranium mine to a private company, NYAH RESOURCES. URSA will receive $2.5 million and 5.0 million Nyah shares. The mine has historic, non-NI 43-101-compliant resources of 4.8 million tonnes grading 0.036% U3O8. Between 1977 and early 1983 the mine produced 1.88 million lb of U3O8.


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