NEWFOUNDLAND Reviewing its properties in Labrador, MONSTER COPPER CORP. of Richmond Hill, Ont., says it has good potential for the discovery of a uranium deposit. On the company’s Mustang Lake property, high-grade uranium-containing boulders have been found, and their bedrock source is believed to be local.
The 100%-owned Mustang Lake claims are 8 km northeast of the Michelin uranium deposit in the Central Mineral Belt of Labrador. Monster Copper has traced the Irving zone, a 500-metre-long boulder train with average grades of 1.28% U3O8. The South prospect contains boulders that average 0.55% U3O8. The company has examined old drill core and says the assemblage and alteration are consistent with an iron oxide copper gold (IOCG) setting.
The Mustang Lake discovery is so new that it is not yet listed on the company’s website, www.MonsterCopper.com.