The project covers 51,531 hectares, located on the southern shore of Lake Athabasca, 12 km west of Fond Du Lac on the central northern edge of the Athabasca basin.
The project area lies within the Athabasca group sandstones and conglomerates which in turn overlie the Archean- Lower Proterozoic, Beaverlodge domain, host to many rich vein-shear Uranium deposits. In the southern half of the project area, there is a major structure known as the Grease River fault zone. Depths to unconformity range from 200 metres in the north to over 500 metres in the center of the property and over 794 metres in the south directly outside the project area. These large changes in depth can be related to major basement structures and individual vertical fault offsets.
The project has been explored by Shell and Famok during the 1970's and early 1980's, when numerous geophysical and geochemical surveys were performed. During this time, two uraniferous boulder trains were located within the project area with grades of 2.4% and 2.2% U3O8.
Extensive field sampling coupled with VTEM and Gravity airborne geophysics provided priority targets for detailed ground geophysics. These ground surveys have identified highly anomalous resistivity responses both within the Athabasca sandstone cover rock and the underlying unconformity. Areas of coincident geophysical and geochemical response were identified in 2006. The first drilling was carried out in 2007, but the targets only provided evidence of fluid flow in the sandstone. In 2010 remodelling of the airborne survey data provided a series of deep untested targets. One of these, located on the eastern end of the Great river fault was tested with one drill hole, but no significant target was defined. The Company has remodelled the geophysical data and more precisely defined the current drill targets.
The potential of this project is for unconformity style Uranium mineralization of both the Simple (Low REE, basement hosted) and the Complex (High REE, Sandstone hosted) types of Uranium deposits. At Fond Du Lac, which is 12 km to the east of the project, a small uranium deposit was found in 1970, and deeper drilling by CanAlaska has identified a uranium mineralized feeder zones in basement rocks. The multiple zones of surface uranium boulders indicate multiple target areas for mineralization at shallow depths.
The Qualified Person for this overview is Peter Dasler. The Qualified Person for this overview is Peter Dasler. More detailed exploration information is available in the News Summary above.