URANIUM RESOURCES: Bayswater says Anna Lake deposit hosts nearly 5 million lb U3O8

LABRADOR — The latest resource estimate for the Anna Lake uranium deposit in the Centre Mineral Belt puts contained U₃O₈ at 4.91 million lb, according to the  43-101 report done for Vancouver's Bayswater Uranium. Also contained in the resource are 1.56 million lb of molybdenum and 1.00 million grams of rhenium. Using a cutoff of 0.30% U₃O₈, the deposit contains 5.06 million tonnes averaging 0.044% U₃O₈, 0.014% Mo and 0.198 g/t Re.

The Anna Lake deposit is located about 35 km southwest of the coastal community of Postville and 15 km northwest of Fronteer Development's Michelin deposit. Bayswater noted that unlike the Michelin deposit, its Anna Lake property lies outside the area affected by the uranium mining moratorium imposed by the Nunatsiavut government on Inuit lands.

Widely spaced drilling at Anna Lake has outlined the deposit over a strike length of 750 metres and down-dip along the plane of mineralization to a depth of 663 metres. Uranium mineralization is predominantly hosted within and spatially related to a grey-red-brown, crenulated garnetiferous biotite schist unit with uranium mineralization occurring in the form of uraninite, according to Bayswater.

A scoping study is planned.

Learn more about the history and the geology of the Anna Lake property at www.BayswaterUranium.com.