Despite some recent decisions to ban the industry, several regions of Canada remain hot spots for uranium exploration. Likely targets are abundant in the Athabasca Basin of northern Saskatchewan, the Central Mineral Belt of Labrador, the Thelon Basin that straddles the Nunavut-Northwest Territories border, and the James Bay area of Quebec.
The month of April has brought news of the following uranium projects.
AURORA ENERGY RESOURCES of Vancouver has completed its 23-hole winter drilling program at the Michelin deposit in Labrador. Work was focused on infill drilling the deeper portion of the deposit and confirmation of historic reports from above 200 metres depth. Several infill holes assayed between 0.10% and 0.12% U3O8 from intersections between 45 and 60 metres long. The best was 0.24% U3O8 over 17.75 metres. (www.Aurora-Energy.ca)
Vancouver's CROSSHAIR EXPLORATION & MINING has intersected 0.20% U3O8 over 9.45 metres at its Armstrong project in Labrador. The company says uranium mineralization has now been intersected along a strike length of 175 metres, and the zone remains open in all directions. Drill plan maps and completed assay results are posted at www.CrosshairExploration.com.
FISSION ENERGY of Kelowna, B.C., and its joint venture partner KOREA ELECTRIC POWER CORP. have updated their findings at the Waterbury Lake project in Saskatchewan. A ground-based resistivity survey is underway, as well as a 594-line-km VTEM airborne magnetic and EM survey. Drilling in the Discovery Bay area is planned for May. The 2007-08 exploration budget is $5.5 million. (www.Fission-Energy.com)
Vancouver's FORUM URANIUM and earn-in partner MEGA URANIUM have completed the winter drilling program on their Maurice Point project in Saskatchewan (not to be confused with CAMECO's nearby Maurice Bay deposit). Forum calls the intersection of a large, re-activated basement fault system with associated hydrothermal alteration the "highlight" of the program. Alteration and brecciation are known to extend to a depth of more than 250 metres. A map of the Maurice Point project at http://forumuranium.com/i/maps/Maurice-Point-Web2.jpg illustrates the area of investigation.
Also working in Saskatchewan, KODIAK EXPLORATION of Vancouver has identified multiple drill targets using VTEM and UTEM data from its West Millennium and Big Yellow properties. The properties are adjacent to UEM's Millennium deposit having a 4.63% grade, the former Key Lake mine that had a grade of 2.1% and the McArthur River mine with its 24.3% grade, according to Kodiak. The company has also acquired a land package in Quebec's Otish Mountains. (www.KodiakExp.com)
PUREPOINT URANIUM of Toronto has pulled an intersection of 3.03% U3O8 over 0.1 metre in the Osprey zone at the Red Willow project in Saskatchewan. This extremely high-grade find was part of a 1.0-metre intersection that assayed 0.58% U3O8. Drilling will continue after spring breakup. (www.Purepoint.ca)
Saskatoon's TITAN URANIUM has sold an option on its Sand Hill-Rook II project in the Athabasca Basin to VALE EXPLORATION CANADA. The Brazilian mining giant's local exploration arm has agreed to spend $2 million in the first year plus another $10 million over four more years to earn a 60% interest in the project. This is Vale's first foray into the Canadian uranium hunt. Titan also has properties in the Thelon Basin. (www.TitanUranium.com)
The technical report is complete on the Uskawanis uranium property belonging to URANIUM BAY RESOURCES of Montreal. The report concludes that there is uranium potential over a large part of the project area based on the results of radiometric surveys, drilling, surface sampling and geochemical results. Uranium Bay says it believes this is Rossing-type mineralization. Visit www.UraniumBayResources.com for a description of a Rossing-type deposit.
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