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URANIUM EXPLORATION – New scrutiny of the Thelon Basin

NORTHWEST TERRITORIES - Calgary-based URAVAN MINERALS has asked FUGRO AIRBORNE SURVEYS to fly a new geophysical sur...


NORTHWEST TERRITORIES – Calgary-based URAVAN MINERALS has asked FUGRO AIRBORNE SURVEYS to fly a new geophysical survey over the Boomerang property and adjoining areas in the Thelon Basin. Data will be gathered by a deep-penetrating high-resolution electromagnetic and magnetic survey using Fugro’s MegaTEM II system. Flying will begin in early July 2005 and take about four weeks. A total of 7,600 line-km on 250-m line spacing is planned.

Exploration of the Thelon Basin for its uranium-producing potential was first done in the mid-1970s. The geological setting is known to be very similar to the Athabasca Basin in Saskatchewan/Alberta and the Kombolgie Basin in Australia. The Thelon Basin is a Proterozoic intracratonic sedimentary basin, covering Paleoproterozoic basement domains that are highly prospective for unconformity-related uranium deposits. The mineralization at the Boomerang property is identical to that of the Cigar Lake and Key Lake deposits, according to Uravan.

The MegaTEM survey is capable of mapping through the younger Thelon sandstone basin cover to the underlying basement unconformity. The goal is to identify strong basement conductors indicative of reactivated basement structures that exploit graphite-bearing pelitic metasedimentary rocks. The survey will also provide data for interpreting alteration features that may occur in the Thelon sandstone overlying significant basement conductors.

A detailed report on the Boomerang and other recently acquired properties is posted at www.UravanMinerals.com.


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