Patterson Lake South
Land position of approx: 31,000 ha, 76,700 acres.
On January 17, 2008 Alpha Minerals Inc. and Fission Energy formed the 50/50 Patterson Lake South Joint Venture that includes claims that straddle the southwestern margin of the Athabasca Basin. The joint venture includes 17 claims (approximately 25,450 hectares). The Patterson Lake South Property (“PLS”) is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (greater than 60 million pounds of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development.
Several of the deposits that made up the Cluff Lake Mine were located by following up uranium boulder fields significantly smaller than the one discovered by the PLS JV. To the Companies knowledge, the PLS boulder field; In terms of area, magnitude and size, is the largest-known boulder field in the basin.
History and success at the Patterson Lake South Property, Athabasca Basin Saskatchewan:
For a full geological overview of Patterson Lake South please view Presentation:
Fall 2008: Historical assessment report research reveals a 1.2 x 1.6 km area with high radon and radiometric values from Canadian Occidental Petroleum in 1977. Further research revealed favourable geophysical and geological setting for basement hosted uranium deposits.
Fall 2009: High resolution airborne radiometric survey identifies large radioactively anomalous area with uraniferous hotspots.
Summer 2011:HIGH GRADE URANIUM BOULDER TRAIN DISCOVERED
- 5km x 0.9 km high grade boulder field discovery, up to3O8
- 65% of boulders (48 of 74) assayed >1% U3O8 with 25 assays >10% U3O8
Fall 2011: Trenching work returned 49 radioactive boulders.
- Highest values: 31.4% and 31.2% U3O8
Winter 2012: Drill Program: 4 holes with strong radioactive mineralization
Fall 2012: Expands High Grade Boulder Field by 2.35km (now approx 7.35km x 0.9km)
- Highest values: 40.0% U3O8
Fall 2012: DISCOVERY Holes! High Grade Uranium Near Surface:
- PLS12-024: 12.5M @ 2.49% U3O8 WITH ASSAYS TO 11.1% U3O8
18 metres of 1.78 per cent triuranium octoxide (U3O8) from 65 metres to 83 metres;
- Including 12.5 metres of 2.49% U3O8;
- Including 3.5 metres of 4.33 % U3O8;
- Including 0.5 metre of 11.1 % U3O8;
8.5 metres of 1.07 % U3O8 from 70.5 metres to 79 metres;
- Including 2.5 metres of 2.63 per cent U3O8;
22.5 metres of 0.4 per cent U3O8 from 60.5 metres to 83 metres;
- Including 4.03 metres of 0.85 per cent U3O8;
9.5 metres of 0.27 per cent U3O8 from 66.5 metres to 76 metres.
HIGH GRADE BOULDER FIELD HIGHLIGHTS:
To date (January 2nd, 2013), a total of 156 boulders and 32 soil samples have submitted for assay with the boulders ranging in size from gravel material to mineralized cobbles and boulders up to 45 X 35 X 30 cm.
Of the 188 geochem samples there are:
63 or 33.5% of the samples assayed: < 1% U3O8
50 or 26.6% of the samples assayed: 1%-10% U3O8
75 or 39.9% of the samples assayed: > 10% U3O8
- Highest grade assaying at 40.0% U3O8