NOW READ OUR ARTICLES IN 40 DIFFERENT LANGUAGES.
WEEKLY ONLINE NEWS STORY
You are receiving this weekly newsletter at no additional cost as part of your subscription to Petroleum News. If you do not want to receive this newsletter, email Shane Lasley at [email protected] to be removed from the list.

October 30, 2014 --- Vol. 08, No. 44October 2014

Nunavut

URANIUM – Forum Uranium Corp. Oct. 28 reported results of exploration on the North Thelon project, Nunavut. Mapping, prospecting and sampling were completed this summer in selected areas of economic interest on its strategic landholdings on trend from AREVA’s 133-million-pound Kiggavik uranium mine development project. In an Oct. 2, 2014 statement, AREVA Resources Canada Ltd. said it submitted a final environmental impact statement for its Kiggavik project to the Nunavut Impact Review Board. Located 80 kilometers (50 miles) west of Baker Lake, the Kiggavik project is a proposed mining and milling operation owned by AREVA (64.8 percent), JCU (Canada) Exploration Co. Ltd. (33.5 percent) and DAEWOO Corporation (1.7 percent). Forum focused on four areas of the North Thelon project this summer: BL-32 which is completely surrounded by Cameco Corp. claims and lies on strike with the prolific Andrew Lake fault that hosts two deposits and three showings; Judge which lies on the eastern extension of the Andrew Lake fault; Long Lake which hosts several historic showings; and Pyro South, an area along the AREVA boundary that also hosts historic uranium showings. A total of 25 basement and sandstone rock samples were collected and shipped to the Saskatchewan Research Council for geochemical analysis. A new showing at Long Lake returned outcrop and boulder geochemistry with values from 34-128 parts-per-million uranium, with associated elements of boron (up to 626 ppm), lead (219 ppm) and nickel (278 ppm) in ‘dirty’ metaquartzites, the same rock type that hosts the Kiggavik deposit. Values of up to 98 ppm uranium were returned from arkosic boulders in the BL-32 area. Forum Uranium continues to view this project as an important and strategic part of its portfolio due to its immediate proximity to AREVA’s Kiggavik uranium project and Cameco’s Turqavik and Aberdeen projects. AREVA has completed engineering, environmental and public engagement studies for the development of an 8 million-pounds-per-year (approx.) uranium mine that would require three to four years of construction, followed by about 14 years of operation. Cameco has intersected uranium with grades of up to 3.52 percent U3O8 over 10 meters along the Andrew Lake fault, which extends onto Forum ground both to the east and west.


Did you find this article interesting? Email it to an associate.
Print this story

Mining News North - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.MiningNewsNorth.com
S U B S C R I B E