QUEBEC - Vancouvers NOVAWEST RESOURCES says it is more confident than ever in an iron oxide copper gold (IOCG) deposit model for its holdings in Chibougamau. Recent deep drilling returned significant concentrations of uranium in copper-gold-rich sulphide veins.
Novawest claims to be the first exploration company to use an IOCG model in the area. It says the areas uranium potential is two-fold. First, it is linked to the IOCG copper-gold veins in the Chibougamau anorthosite. And second, the companys Icon copper deposit at the southern extremity of the Mistassini Basin has similarities to the Proterozoic basin-hosted uranium in Saskatchewan, Elliot Lake and the Otish Mountains.
Novawest based its investigation on a GSC report, originally filed in 1997, that discussed the radioactive potential of geophysical logs from the Corner Bay copper deposit. Learn more at www.Novawest.com.