Moon

Location

This project is comprised of one claim of 2,716 hectares. The Moon property lies approximately midway between the McArthur River and Key Lake mines, and just west of the Key-McArthur road. The property is about 8 km east-southeast of Cameco’s Millenium uranium deposit, and immediately southwest of Denison’s Phoenix and Gryphon uranium deposits (Figure 1). A royalty agreement covers part of the property. The property was optioned by Denison Mines Corp in 2016, and in 2020 Denison became the Operator of the 75:25 (Denison:CanAlaska) joint venture.

Geology

The project lies within the Athabasca basin with depths to the unconformity between 330-580 metres. The basement is of the Wollaston domain, which are metamorphosed Lower Proterozoic (Trans-Hudson) sediments (psammites and pelites) and reworked Archean gneisses. The cover is the flat-lying Athabasca group sandstones and conglomerates.

Exploration

The property was part of several previous exploration projects during the late 1970’s and early 1980’s, during which geochemical and geophysical prospecting by SMDC (later Cameco) was carried out. Limited physical exploration was carried out on the current CanAlaska claim area. Historical geophysics defined numerous structures and conductors west and north of the project area. In 2005, CanAlaska flew a MegaTEM survey over the property and in 2010 carried out ground geophysical surveys. In addition to confirming the integrity of the previous geophysical interpretations, it better defined the zones of basement conductivity (Figure 2).

 

There has been drilling to the east and west of the property. Numerous anomalous boulder trains have been located to the immediate west and north of the property. To the east there is major conductor which has been drilled by Denison since 2009 and high-grade unconformity-style mineralization is continuing to be defined in the area (Gryphon and Phoenix deposits: Wheeler River Property).

Denison optioned the property in 2016 and carried out DC Resistivity and SWML-EM surveys, as well as one drill hole (MS-16-01) which intersected 0.5m @ 0.102% U3O8 above the unconformity near a graphitic unit. Processing and compilation of the various ground and airborne geophysical surveys in 2020 has produced new drill targets shown in Figure 3

Potential

The discovery potential of this project is for unconformity-style uranium mineralization at the unconformity or in the basement. The discoveries of the Millennium deposit to the west in 2000, and the more recent discoveries at the adjacent Wheeler River project (Phoenix and Gryphon deposits) to the east, highlight the potential for this region for major uranium discoveries.

The Qualified Person for this overview is Peter Dasler.


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