The Don McCarthy Claim is a single 4087-hectare claim (10100 acres), previously controlled by International Uranium Corp/Denison Mines Corp., which still has a significant presence in the area. The Claim is considered to be a high priority target due to its proximity to large, high-grade uranium mines and its potential to host similar mineralization. The Claim is located on the eastern edge of the Athabasca Basin, approximately 15.8 miles (25.5km) southeast of Cigar Lake and 25.5 miles (41km) east of the McArthur River Mine (Cameco/Cogema), the largest, high-grade uranium mine in the world (reserves of 389.1 million lbs with an average grade of 24.3% U3O8 and producing 18.7 million lbs per annum).
Highlights for the due diligence summary by Dr. Peter Born P.Geo., from information provided by the vendor, include:
Highlights:
• The location is in close proximity to the McArthur River and Cigar Lake Mines, both are world class uranium deposits.
• Scattered uranium and arsenic anomalies occur in several locations, all within the Athabasca Basin, some 9 km from the eastern margin. Presumably, there is a regolith along the contact with the underlying basement rocks.
• A Northeast trending anomalous magnetic feature (high derivative values) may be indicating a high magnetic source in the basement rocks underlying the local sandstone/conglomerates.
There are several features outlined by the preliminary data:
The location is in close proximity to two world class uranium deposits, namely the McArthur River Mine and the Cigar Lake Mine. This proximity means similar basin fill, possibly overlying similar basement rocks of the Wollaston Domain. Basin fill on the DM property consists of lower Manitou Falls Formation conglomerates and sandstones etc., as well as upper Manitou Falls conglomerates and overlying quartz arenites. This northeast trending sedimentary contact which cuts across the property could be a sequence boundary or at perhaps just a prominent erosional (planar) feature. A weathered horizon (regolith) probably exists in the underlying basement rocks. All are important components for unconformity type Uranium mineralization as found at nearby mines (ie MacArthur River, Cigar Lake, etc).
Several geochemical anomalies of elevated Arsenic also occur over much of the property. In addition, previous lake sediment sampling data from the Geological Atlas of Saskatchewan has revealed Uranium values ranging from 0.9 to 2.7ppm U,there are 7 samples of this type. It is unknown whether other lake sediment or soil samples were subsequently taken within the claim boundaries. The surficial geology appears to consist of till with a prominent moraine cutting across the property in a northeast direction, basically bisecting high U values. Further study of the glacial history, however, is needed before geochemical results can be put in a proper context. These preliminary data may however suggest a mineralization association with unconformity uranium/polymetallic sulphides typical of Cigar Lake Mine rather than the MacArthur River massive (non metallic association) uranium.
Other geophysical features include a northeast trending anomaly (total field airborne magnetic survey) that is bisected or at the end of a high magnetic trend. However, there is a coincident (prominent) derivative magnetic anomaly over this same region. These features are likely related to the lithological composition of underlying basement rocks on the DM claim. This suggests basement rocks high in magnetite, but it also shows that rock units are trending to the northeast similar to basement rocks at both McArthur River Uranium Mine and Cigar Lake Mine. Further detailed geophysical and prospecting are needed to explain/or reject the significance of this derivative magnetic feature.
Other elements of structural geology consist of a poorly developed (1-2 km spacing) north trending fracture/fault system over some of the DM property. This is similar to the pattern in basement rocks at the Wheeler Beckett claims. In both cases, basement rocks are probably part of the Proterozic-aged Wollaston Domain consisting of high metamorphic grade amphibolite gneisses and lesser meta-plutonic granitic rocks. There is also a less prominent NW-trending fracture system on the DM claim, also typical of fractures at the eastern edge of the basin as seen on the Wheeler Beckett claims.
Thus, there are several reasons for further exploration on the DM claim, namely location in close proximity to several world class uranium mines. We also know that the basement regolith below the unconformity is mineralized with uranium at numerous locations along this eastern edge of the Athabasca basin. In addition, there are several geochemical anomalies of Arsenic/Uranium on the DM property, and at least one northeast trending airborne anomaly, namely a derivative magnetic anomaly.
Recommended Work Program
In order to advance the property to a higher exploration rank (value) the following things should be done (all of these cost money):
1)Due diligence of all possible relevant data, with visits to data sources (ie data repositories in Saskatchewan). This would culminate in a data compilation and data reliability ratings to find data gaps/errors. Eventually a property visit is needed to achieve the final step for due diligence.
2)A complete airborne geophysical survey (EM, magnetometer and radiometric) should be done on the property. This should also include subsequent ground follow-up and prospecting of any geophysical or radiometric anomalies. EM surveys are particularly important to find graphitic basement rocks in a mineralization scenario analogous to the Cigar Lake deposit. These conductors are perhaps several hundred metres below surface, so subsequent ground surveys are needed to better define and locate any airborne EM anomalies.
3)The surficial geology should be studied and interpreted in detail in order to better interpret geochemical results with respect to ice direction and secondary dispersal in till, moraines or eskers, etc.
Qualified Person: Dr. Peter Born PGeo
