 |
Introduction
The Moore Lake property comprises 12 claims totalling 35,705 ha in the south-eastern portion of the Athabasca basin, 40 km south of Cameco's McArthur River mine and 45 km northeast of the Key Lake mine and mill complex.
Previous Work
Uranium exploration in the Moore Lake area has been carried out periodically over the past 30 years, including joint venture activities operated by Noranda, AGIP, Brinex and Cogema. Numerous geophysical surveys were conducted on the property and over twenty holes drilled. Of these, seven intersected graphitic metapelites and sporadic geochemical enrichment, with one hole returning weak uranium mineralization (0.03% U3O8/0.25 m) from basement lithologies.
JNR and its partner at that time, Kennecott Canada, acquired the property in 1999 and subsequently carried out 48.8 km of Fixed Loop TEM. The diamond drilling program that followed had unusually early success, with the third hole (ML-03) intersecting significant uranium mineralization (0.442% eU3O8 / 9.20 m). Dubbed the Maverick Zone, this was the first new discovery made in the Basin in several years. In all, a total of 4,640 m in 14 holes were completed that year. This drilling confirmed the presence of a significant structural zone and an intense hydrothermal system associated with the Maverick Zone, along with highly enriched trace element geochemistry, most notably boron, nickel and uranium.
In 2001 and 2002 Kennecott carried out numerous geophysical programs, including airborne GEOTEM, ground EM, magnetics and gravity surveys over the Maverick Zone and several regional targets. This work resulted in the completion of an additional 4,018 metres in 13 holes on the Rarotonga, Puka Puka, MLE and Venice grids and included an additional five holes at the Maverick Zone. The regional drill holes identified significant geochemical enrichment and/or graphitic metapelites on all of the grids tested, with two of the holes, ML-18 (MLE) and ML-19 (Venice), intersecting weak basement mineralization. At Maverick, drilling confirmed the presence of significant mineralization in hole ML-25, where 0.62% U3O8 / 9.1 m was obtained including an interval of 12% U3O8 / 0.4 m. This was the first conclusive evidence of high-grade mineralization on the property.
JNR / Denison Option
In the fall of 2002, Kennecott made the decision to withdraw from uranium exploration worldwide, and as such dropped the option on the property. JNR subsequently entered into a joint venture with Denison Mines Corp. (Dension; formerly International Uranium Corporation). Under the terms of the Oct 2003 option agreement, Denison could earn 51% by making expenditures and investments of $2.2 million over four years, and an additional 24% by making further investments and expenditures of $2.2 million. Denison met its final earn-in committments in August 2005 and now holds a 75% interest in the Moore Lake property.
2004-2005 Exploration Results
The JNR/Denison joint venture has undertaken a series of aggressive exploration programs on the Maverick Zone and on numerous historic and newly identified regional prospects. In 2004, 51 holes were drilled totalling 19,393 metres. A further 90 holes totalling 32,628 metres were drilled during two drilling campaignes in 2005. The joint venture has also carried out extensive geophysical programs including 32 km of ground TEM, 67 km of gravity, and 23.3 km of seismic work over the Maverick Zone, as well as 303 km of ground TEM on seven regional targets, 5 of which were drill tested.
The better mineralization to date is located in the vicinity of the original Maverick discovery, centred about ML-03 and ML-25. The mineralization is intimately associated with graphitic pelites, reactivated faulting and extensive clay replacement associated with hydrothermal alteration in the sandstone and basement rocks. This classic unconformity-style mineralization is best exemplified by holes ML-61, ML-54 and ML-55, where respective intervals of 4.03% eU3O8/10 m (incl. 1.4 m @ 20% eU3O8), 3.5% U3O8/5.0 m and 5.14% U3O8/6.2 m were obtained. In ML-29, returning 1.61% eU3O8/7.5 m, an 0.5 m intersection graded 7.91% U3O8, 3.65% Ni, 2.8% As, 1.6% Cu, 0.9% Co, 0.35% REE and 5.3g/t Ag, confirming the polymetallic nature of the mineralization.
In the winter of 2005, the joint venture identified an impressive, 10-kilometre long, 500- metre wide conductive corridor that wraps around the northern boundary of the granitic body that forms the northern contact of the Maverick Zone. The corridor encompasses portions of the Nutana, West-Venice and Venice grids and is interpreted to be an extension of the conductive system associated with the Maverick mineralization. The geochemical and geological signature that was obtained from the few holes on this system was highly prospective, with trace element enrichment, illitic clay geochemistry and significant graphitic intercepts occurring, features consistently associated with mineralized systems.
Although the greatest focus has been placed on the Maverick zone and its associated features, the work carried out to date on the Vollhoffer, Rarotonga, Puka Puka and Avalon areas has also identified significant potential for the occurrence of uranium mineralization. In the case of the Volhoffer, Rarotonga and Puka Puka areas, highly anomalous geochemistry, weak mineralization and fertile geological settings were identified from diamond drilling. The Avalon area, while it has yet to be drill tested, has significant exploration potential given its strong geophysical signature and what is considered to be a favourable northeast trend by explorationists in the Athabasca basin.
The 2005 summer-fall program included in-fill drilling on the Maverick Main zone and step-out drilling along the more than 6.5-kilometre long Maverick structural corridor and along the southern half of the 10-kilometre-long, 500-metre-wide conductive corridor to the west and northwest of the Maverick granite.
The results from the program are highly encouraging, successfully extending the strike length and width of the main high-grade mineralized lens at the Maverick Main zone, and resulting in the discovery of two new zones of unconformity-style uranium mineralization ('527' and '525') within the Maverick structural corridor.
Uranium mineralization in the Maverick Main zone has now been intersected over a minimum strike length of 350 metres. Together with the newly discovered 527 and 525 zones, mineralization occurs over a 1.7-kilometre length of the minimum 6.5-kilometre long Maverick structural corridor. Over 50% of this corridor has yet to be drill tested.
2006-2007 Exploration Programs
In 2006, infill drilling on the Maverick Main zone continued to intersect high-grade uranium mineralization. ML-140 returned 3.20% U3O8 over 6.5 metres including a 3.5-metre intercept of 5.25% U3O8, 2.1% nickel and 0.65% cobalt. ML-139 returned 1.23% U3O8 over 8.5 metres, including a 1.5-metre intercept of 4.20% U3O8. ML-133 intersected two zones of mineralization. A high-grade zone at the unconformity returned 2.72% U3O8, 2.30% nickel and 0.905% cobalt over 5.0 metres, including a 2.0-metre intercept of 4.25% U3O8. ML-133 also intersected mineralization in the basement associated with clay-altered graphitic pelites, returning 0.611% U3O8 over 3.5 metres.
Uranium mineralization was intersected in all three holes that tested the '527' area in 2006, with the best result obtained from ML-136 returning 0.50% eU3O8 over 7.0 metres.
The 2007 winter exploration program included ground geophysics and a property-wide airborne resistivity and magnetic survey. Diamond drilling focused on muskeg and lake covered targets in the West Venice, Venice, Volhoffer, Esker and West Maverick areas. The most significant results were obtained from the fourteen reconnaissance holes drilled on the West Venice and Venice grids. These holes typically intersected a strongly altered (illite and dravite) and at times structurally disrupted sandstone column, enriched in several pathfinder elements including uranium and boron. The basement rocks included sheared and altered graphitic pelites that were strongly enriched in metals such as copper, nickel, lead, cobalt, zinc, with anomalous uranium levels (up to 130 ppm). The West Venice and Venice grids occur along a 10-kilometre long and 500-metre wide structural corridor interpreted to be an extension of the conductive system associated with mineralization in the Maverick Zone.
In October 2007 project operator, Denison, initiated a 6-hole, 2,316-metre diamond drill program on the Main Maverick Zone. Analytical results are pending.
Current Program
The 2008 exploration program which is focusing on the Maverick trend is underway. One drill is currently operating on the project and an estimated 9,000 metres of diamond drilling are planned. A geophysical program, consisting of 60 kilometres of linecutting and a ground resistivity survey, will also be carried out.
Quality Assurance / Quality Control
JNR's Vice-President Exploration, David L. Billard, PGeo, is the Qualified Person for the Company's Athabasca Basin uranium projects. All technical information for the projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program, details of which are presented in the PDF link below.
 Quality Assurance & Quality Control Program
Maps & Photos
|
| |
)
)
)
)
)
)