NUNAVUT - PACIFIC RIDGE EXPLORATION of Vancouver reports assays as high as 0.30% U3O8 over 17.3 metres the its Lucky-7 zone of its Baker Basin project, 70 km south of Baker Lake. The Lucky-7 zone has been drilled to a depth of 500 metres and traced radiometrically for a 500-metre strike length. The average intercept of uranium mineralization based on seven holes drilled to date is approximately 7.5 metres grading 0.22% U3O8.
The Baker Lake Basin is one of four Proterozoic basins within the Canadian Shield that host uranium occurrences, says the company. Similar formations are found in the Athabasca, Thelon and Hornby Bay basins.
Uranium mineralization at Lucky-7 zone is associated with fracturing and clay alteration of the Baker Basin Kazan sandstone within a northerly trending sub-vertical structural corridor emplaced with a mafic dike. Mineralization occurs on both the east and west contacts of the dike. To date, thicker sections of the dike appear to be associated with thicker zones of uranium mineralization.
Pacific Ridge continues to drill at Lucky-7. Additional results will be posted at www.PacificRidgeExploration.com.
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