The Athabasca Basin in northern Saskatchewan is home to some of the world’s richest uranium deposits, making it a good place to drill for more occurrences.
ARIMEX RESOURCES is ready to being a two- or three-week drill program at its Key Lake project. The three 150-m holes will be drilled by CANALASKA. Arimex hopes they intersect a conductor that parallels a structure in the Key Lake Fault.
BAYSWATER URANIUM has set aside $4.5 million for its Athabasca Basin project to cover airborne and ground surveys as well as drilling.
CANALASKA URANIUM has a very large land position, close to 20 projects on the go, scattered around the Athabasca Basin and into Alberta and Manitoba. The company has partnered with the Black Lake and Fond du Lac First Nations to explore their reserves for uranium potential. CanAlaska can earn up to a 49% interest in any discovery that eventually becomes a mine. MITSUBISHI DEVELOPMENT promised $11 million over 3.5 years to earn 50% of CanAlaska’s West McArthur project, leaving CanAlaska the operator.
ESO URANIUM has begun work on its Cree, Hatchet and Peterson properties in the eastern portion of the Athabasca Basin. MPH CONSULTING has been hired to conduct the work program.
JNR RESOURCES is going over it Way Lake project, 55 km east of the former Key Lake mine. Of particular interest is the Hook Lake pitchblende vein that historically returned grab samples up to 40.1% and 48% U3O8. The Hook Lake showing occurs in a magnetic low next to a magnetic high, says JNR.
PITCHSTONE EXPLORATION recently raised $7.2 million, much of which will be spent drilling at the Darby-Candle property, a 50:50 joint venture with SXR URANIUM ONE on the eastern side of the basin. Six thousand metres of coring are planned for the winter program.
THUNDER SWORD RESOURCES has been active on four properties in the Athabasca Basin. Notably, FUGRO AIRBORNE has conducted magnetic and horizontal-loop electromagnetic surveys, and the report from the last one is expected in February.
TITAN URANIUM has secured drilling permits for its Castle project in the northern part of the province. Work will begin with a fence drilling program on the southern segment of the Saskatoon Lake Conductor, where strong alteration and cross structures were encountered in the 2006 program on the Castle South property.
UEX CORP. has begun its 2007 drilling program at the Shea Creek project, which hosts the Anne, Collette and Kianna deposits. A drill will also be turning on the Mirror River property 90 km southeast of Shea Creek. The 2007 exploration budget is $6.73 million.
URANIUM CITY RESOURCES has reported initial drill results from its East target in the Uranium City Mining District. One shallow hole, drilled to a depth of 113 m, returned 0.054% U3O8 over 1.0 m, 0.051% over 6.0 m, 0.322% over 4.0 m and 0.098% over 3.0 m between 25.0 and 72 m below surface. Two other holes also hit mineralization. One cut 0.051% over 0.5 m and 0.041% over 1.1 m between 36.0 and 78.0 m. The other returned 0.087% over 2.75 m at a depth of approximately 100 m.