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Brazil Resources announces results from technical report on its Rea Uranium Project, Western Athabasca Basin
VANCOUVER , Sept. 19, 2014 /CNW/ - Brazil Resources Inc. (the "Company" or "Brazil Resou...
About this update from Goldmining Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, Sept. 19, 2014 /CNW/ - Brazil Resources Inc. (the \"Company\"\n or \"Brazil Resources\") (TSX-V: BRI; OTCQX: BRIZF) is pleased to\n announce that it has received a National Instrument 43-101 (\"NI\n 43-101\") technical report (the \"Technical Report\") on its Rea Uranium\n Project (the \"Rea Project\"), Western Athabasca Basin. The Company\n acquired the Rea Uranium Project as part of its acquisition of\n Brazilian Gold Corporation late last year. It is controlled 75% by\n Brazil Resources Inc. and 25% by Areva Resources Canada Inc. The\n independent Technical Report summarizes historic exploration programs\n and highlights two prominent uranium targets for follow-up exploration.\n\n\nThe Rea Project is located 185 km north-northwest of Fort McMurray,\n Alberta in the western portion of the Athabasca Basin, an underexplored\n area that has seen renewed exploration activity as a result of recent\n near surface, high-grade discoveries in the nearby Patterson Lake area\n (Rea Location Map). The Project consists of 12 contiguous exploration permits covering\n approximately 885 sq km. that surround Areva's Maybelle River Project,\n which hosts the relatively shallow (150 m below surface), high-grade\n Maybelle uranium deposit. The Athabasca Basin contains some of the\n largest and highest grade uranium deposits in the world and is\n currently estimated to contribute approximately 15.5% of the annual\n world-wide uranium production.\n\n\nThe recommended exploration program, as outlined in the Technical\n Report, is focused on two high priority targets (North Zone and West\n Zone; Rea North and West Zone Map). The North Zone target is located directly north of Areva's permits,\n where the Maybelle River Shear Zone (\"MRSZ\") can be traced for an\n additional 11 km to the north by geophysics and drilling on the Rea\n Project. Historic drilling (7 holes) in this area has tested the MRSZ\n over a strike distance of approximately 3 km, with several of these\n holes intersecting fault breccias in the overlying Athabasca Basin\n sedimentary rocks along with associated clay alteration, dravite,\n geochemically anomalous uranium and pathfinder elements (copper, lead,\n nickel, arsenic, boron and vanadium), features commonly associated with\n unconformity-type uranium deposits. The recommended drill holes\n (approx. 6 holes tot...