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Independent Report Confirms Uranium Discovery and Expansion Potential at Angilak - Highlights 31 KM Rib-Nine Iron Trend With Grades up to 30.3% U3O8 & Mushroom Lake With Grades of up to 47.8% U3O8 in Outcrops
HIGHLIGHTS The Angilak Project is situated around the Angikuni Basin, which is a direct ...
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[{"type":"text","content":"Independent Report Confirms Uranium Discovery and Expansion Potential at Angilak - Highlights 31 KM Rib-Nine Iron Trend With Grades up to 30.3% U3O8 & Mushroom Lake With Grades of up to 47.8% U3O8 in OutcropsHIGHLIGHTSThe Angilak Project is situated around the Angikuni Basin, which is a direct analog to the Athabasca Basin with comparatively little exploration. The Project is anchored by the Lac 50 Deposit in addition to eight named showings containing high-grade uranium located across the project area;SRK Consulting completed regional scale Structural Interpretation and Targeting Assessment that identifies the major primary and secondary structural controls (conduits, traps, and the overall plumbing system for uranium) hosting the majority of high-grade mineralized discoveries beyond the Lac 50 Deposit area at the Angilak Project located in Nunavut, Canada;Understanding these controls provides the Company with a roadmap for targeting additional discoveries, such as unconformity and basement - Athabasca style - high-grade uranium mineralization within the Angikuni Basin;Rib-Nine Iron Trend:Increased from 25 to 31 km and is now interpreted to extend under the cover of the Angikuni Basin;Along the Eastern margins outcrops with historic (2014) samples proximal to the Nine-Iron Discovery with grades up to 30.3% U3O8 have been discovered on surface, these showings have not been drill tested at depth;Along the Western margin, historic drilling at the RIB Discovery intersected shallow (<25 m depth) mineralization with grades of up to 5.6% U3O8, hosted within graphitic pelitic rocks with Athabasca style alteration (Figure 1 & 3);Along the Northern margin outcrops with historic (2014) samples and historic drilling have returned grades >1% U3O8;Numerous similar structural targets have now been identified along this trend, extending under the cover of the Angikuni Basin;Mushroom Lake Outcrop and Lac 50 Deposit:The report interprets that the Angikuni Shear Zone and secondary extensional structures transect the Lac 50 Deposit area and correlate with the Mushroom Lake Outcrop;These secondary structures act as the controls and host high-grade uranium;Outcrop samples at Mushroom Lake from historic samples have returned grades of up to 47.8% U3O8;The Mushroom Lake Outcrop extends over an area of ~3 km and remains untested at depth (Fig...