Slide 1: Geological Framework of the Fox Lake Uranium Deposit, Athabasca Basin, Canada
Geological Framework of the Fox Lake Uranium Deposit, Athabasca Basin, Canada 28 November 2017 Scott Rogers1, Nathan Bridge1, Clare O’Dowd1, Haiming Yang1, Alexandre Aubin1, and Andrew Yackulic2 1 Cameco Corporation Cameco 2 Corporation Yak Geoscience cameco.com
Slide 2: Location Map Athabasca Basin
Location Map Athabasca Basin Cigar Lake Rabbit L. McArthur R. Key Lake Selwyn Tazin Lake Lake Camsell- P ortage Uranium City Eldorado Cameco – 78.241% Maurice Bay Nicholson AREVA – 21.759% Gunnar F ond-du-Lac Lake Athabasca Saskatoon Stony Rapids Black Lake Black Lake Roughrider Wollaston McClean La
Slide 3: Regional Geology
Regional Geology Fox Lake McArthur River Millennium Gryphon Phoenix 3 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 4: Magnetic Signature (TDR)
Magnetic Signature (TDR) Legend Magnetic Tilt Derivative (radians) Major Fault Ground Conductor 0 1 2 3 4 Km 4 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 5: Conductive Signature (ZTEM)
Conductive Signature (ZTEM) Legend ZTEM IP 90Hz DT Major Fault Ground Conductor 0 1 2 3 4 Km 5 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 6: Project Geology
Project Geology Legend Granite Gneiss Pelite Quartzite Graphitic Pelite Major Fault Ground Conductor 0 1 2 3 4 Km 6 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 7: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline Stepwise REA-107 Moving Loop EM Conductors Fox Lake First Mineralized High Grade First Intersection High Grade- High Grade- Maiden Resource Drillhole on Perched Within Deposit Thickness Thickness Estimate Mineralization- Footprint Mineralization- Mineralization- C10 Corri
Slide 8: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline REA-112-2 Stepwise Moving Loop EM Conductors Fox Lake High Grade Perched First Mineralized First Intersection High Grade- High Grade- Maiden Resource Drillhole on Mineralization- Within Deposit Thickness Thickness Estimate C10 Corridor Fox Lake East Footprint Mineralizati
Slide 9: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline Stepwise Moving Loop REA-125-2 EM Conductors Fox Lake First Intersection First Mineralized High Grade High Grade- High Grade- Maiden Resource Drillhole on Perched Within Deposit Thickness Thickness Estimate Mineralization- C10 Corridor Fox Lake East Footprint Mineralizati
Slide 10: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline Stepwise Moving Loop EM Conductors REA-144 Fox Lake *Deposit Outline at 0.1% U3O8 cut-off grade High Grade- Thickness First Mineralized High Grade First Intersection High Grade- Maiden Resource Drillhole on Perched Within Deposit Mineralization- Thickness Estimate Mineral
Slide 11: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline REA-165-3 Stepwise Moving Loop EM Conductors Fox Lake *Deposit Outline at 0.1% U3O8 cut-off grade High Grade- Thickness First Mineralized High Grade First Intersection High Grade- Mineralization- Maiden Resource Drillhole on Perched Within Deposit Thickness Estimate C10 C
Slide 12: Fox Lake Discovery Timeline
Fox Lake Discovery Timeline Stepwise Moving Loop EM Conductors Fox Lake Fox Lake Deposit Inferred 68.1 Mlbs U3O8 @ 7.99% 386,681 tonnes (0.7% U3O8 cut-off grade) *Deposit Outline at 0.1% U3O8 cut-off grade First Mineralized High Grade First Intersection High Grade- High Grade- Maiden Resource Drillh
Slide 13: Stepwise Moving Loop EM
Stepwise Moving Loop EM º Stepwise Moving Loop EM Conductors Legend ZTEM IP 90Hz DT Mineralization 0 75 150 300 450 m (0.1% U3O8 cut-off) 13 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 14: Local Geology
Local Geology º A Legend Legend Lithology Pelite ! ! ! ! ! ! ! ! ! ! Cordierite Pelite #! #! #! #! #! # # # # # Garnet Pelite # # # # # M M M M M M M M M M Pelitic Metatexite M M M M M Semipelite Graphitic Pelite PL PL PL PL PL PL PL PL PL PL Pelitic Diatexite Pegmatite Calcpelite Unidentified Alter
Slide 15: Fox Lake Schematic Section
Fox Lake Schematic Section A A’ Dravite ~550 m MFb Kaolinite MFa Pyritization Uranium Desilicification Mineralization Silicification Bleaching C10 Fault & Unconformity Stratigraphy @ ~700 m Chlorite Chlorite Dravite Garnet-bearing Pelite Clay *not to scale, for illustrative Cordierite-bearing Pelite
Slide 16: Basement Structure
Basement Structure MFb MFa Ductile Boudinage Semi-Brittle Fault *not to scale, for illustrative purposes only Healed Breccia 16 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 17: Sandstone Structure
Sandstone Structure MFb MFa Healed Breccia with Rotated Bedding Desilicified Brittle Fault *not to scale, for illustrative purposes only Silicified Breccia 17 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 18: Fox Lake Central – Structural Geology
Fox Lake Central – Structural Geology A A’ Pop-up º A U/C Legend Legend Lithology Pelite ! ! ! ! ! ! ! ! ! ! Cordierite Pelite #! #! #! #! #! # # # # # Garnet Pelite # # # # # A’ M M M M M M M M M M Pelitic Metatexite M M M M M Semipelite Graphitic Pelite PL PL PL PL PL PL PL PL PL PL Pelitic Diatex
Slide 19: Distal Sandstone Alteration
Distal Sandstone Alteration Pervasive Bleaching Disseminated Grey Pyrite Interstitial Clay MFb MFa *not to scale, for illustrative purposes only 19 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 20: Proximal Sandstone Alteration
Proximal Sandstone Alteration MFb MFa Structurally Controlled Sooty Pyrite/Quartz Dissolution *not to scale, for illustrative purposes only 20 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 21: Proximal Sandstone Alteration
Proximal Sandstone Alteration MFb MFa Fracture-Controlled Pyritization Dravitization and Silicification *not to scale, for illustrative purposes only Patchy Pyritization 21 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 22: Basement Alteration
Basement Alteration Faulted graphitic pelite MFb MFa Chloritization Argillitization *not to scale, for illustrative purposes only 22 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 23: Basement Alteration
Basement Alteration MFb MFa Chloritization Clay alteration *not to scale, for illustrative purposes only Dravite Veinlets 23 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 24: Exploration Pathfinders
Exploration Pathfinders Reflectance Mineralogy Uranium Partial 24 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 25: Reflectance Mineralogy
Reflectance Mineralogy W E Fox Lake West Fox Lake Central 0 75 150 300 450 m ● West and Central zones show distinct spectral signatures 25 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 26: Geochemical Anomalism
Geochemical Anomalism W E 0 75 150 300 450 m ● Arsenic distribution 26 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 27: Geochemical Anomalism
Geochemical Anomalism W E 0 75 150 300 450 m ● Molybdenum distribution 27 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 28: Geochemical Anomalism
Geochemical Anomalism W E 0 75 150 300 450 m ● Cobalt distribution 28 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 29: Geochemical Anomalism
Geochemical Anomalism W E 0 75 150 300 450 m ● Nickel distribution 29 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 30: Fox Lake Mineralization
Fox Lake Mineralization Fracture- Gouge-hosted hosted Blebby/Redox MFb MFa *not to scale, for illustrative purposes only Perched mineralization 30 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 31: Fox Lake Mineralization
Fox Lake Mineralization Semi-massive MFb MFa Vuggy Semi-massive with NiAs *not to scale, for illustrative purposes only Massive 31 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 32: Grade Distribution
Grade Distribution ● Narrow target = drilling strategy required ● Multiple drill holes necessary to test ideal target 10 204 37 6 4 U/C @ 700 m Stepwise Moving 50 m Loop Time- Domain EM Target Reference Grade-Thickness Product (%m) 37 50 m 32 Geological Framework of the Fox Lake Deposit - Nov 28, 20
Slide 33: REA-165-3
REA-165-3 24.95% U3O8 / 8.0 m Max 70.4% U3O8 U/C 33 Geological Framework of the Fox Lake Deposit - Nov 28, 2017
Slide 34: Summary
Summary ● Discovery through delineation to maiden resource estimate in 5 years ● Exploration success resulting from early recognition of significant features, evaluation of deposit model ● Tight nature of high grade mineralization = challenging evaluation ● C10 corridor an extensive and fertile mine
Slide 35: Questions
Questions Thank You! 35 Geological Framework of the Fox Lake Deposit - Nov 28, 2017