Business
Radiometric Survey Successful Follow up Program Proposed
(via Thenewswire.ca)
About this update from Canada One Mining Corp
[{"type":"text","content":"Radiometric Survey Successful Follow up Program Proposed\n\n(via Thenewswire.ca)\nMarch 3 2009 - Anglo-Canadian Uranium Corp. (URA - TSX.V) (the \"Company\") is pleased to announce the results of the airborne radiometric and magnetic survey carried out on its 100% owned Big Mac and Charles properties in the Otish Basin of Quebec, about 350 km northeast of the town of Chibougamou. The two properties together cover 4,179 hectares. The Big Mac property is about 3 km east of the L-Zone deposit and 60 km northeast of the Matoush deposit. The Charles property is about 15 km south of the Big Mac, closer to the edge of the basin.\n\nThe radiometric data revealed areas of radioactivity higher than background. The lateness of the season permitted only a brief ground check of the results but, on the Charles property, prospectors did find numerous glacially transported subangular boulders showing radioactivity above background. The radioactive material may be from an unknown deposit up-ice, or from the alteration halo surrounding such a deposit. On the Big Mac property, few boulders were exposed in the area examined because of overburden and vegetation.\n\nThe magnetic data for both properties may be interpreted to indicate the presence of gabbro dykes or masses, which could host mineralization similar to the L-Zone. Such a gabbro mass on the northwestern edge of the Big Mac property is shown on a geological map produced by previous workers. Magnetic data from the airborne survey, and a previous ground-based electromagnetic and magnetic survey on the Big Mac, are interpreted to show several directions of faulting. Such faulting could have permitted the introduction of mineralization similar to the Matoush deposit. Higher radiometric counts coincide with the area of interpreted faulting. The follow up work discussed below will target these areas.\n\nThe Otish basin is similar to the Athabasca basin of Saskatchewan with respect to its age, its lithology, and its tectonic setting, and may thus be expected to contain similar deposits, i.e. the rich unconformity type deposits. A 2009 exploration program is therefore planned that will look for deposits similar to the L-Zone deposit, the Matoush deposit, and the unconformity deposits of the Athabasca type. The program will consist of detailed prospecting of boulders and outcrop to look for radioac...