Lakeland Resources Inc. has acquired, by staking, four new uranium properties totalling 17,954 hectares and has expanded five of its existing properties totalling an additional 22,264 hectares, all located within the Athabasca basin region, Saskatchewan.
The properties that were expanded include: Lazy Edward Bay, Riou Lake, Hawkrock Rapids, Small Lake and Fedun Lake. The new claims were acquired in order to cover targets identified from a review of historic work. A highlight of the review is at the expanded Lazy Edward property, where two conductive trends were defined by an airborne VTEM survey by Dejour Enterprises in 2006. One of the trends was followed up on the ground in 2009 with a fixed-loop time-domain (FLTEM) survey and was apparently not drill tested. The Lazy Edward property, now totalling 31,128 hectares in size, contains eight significant exploration trends, many of which are drill ready.
An updated property map of the Athabasca basin can be found on the company's website.
New properties
Carter Lake
With the addition of four additional mineral claims, totalling 1,508 hectares, Lakeland has gained a presence in the southwest part of the Athabasca basin. The Carter Lake property covers a portion of the Carter Lake structural corridor, which is parallel to the Patterson structural corridor (host to the PLS zone of Fission Uranium Corp. and the Arrow zone of NexGen Energy Corp.). Depth to the sub-Athabasca unconformity in the property area is estimated at or about 600 metres.
Cable Bay
The property consists of five claims, totalling 1,077 hectares, located at the southern margin of the Athabasca basin. Historic exploration, most recently by the previous operator, JNR Resources included airborne electromagnetic (EM), high-resolution airborne magnetic and ground EM surveys. The Cable Bay property includes a trend of graphitic metasedimentary rocks in the basement, with Athabasca sandstone cover of only 10 metres or less. The trend was drill tested on a reconnaissance scale by Saskatchewan Mining Development Corp. (SMDC) in 1979.
Highrock
The property consists of three claims, totalling 6,479 hectares, located at the southeastern margin of the Athabasca basin. The property is underlain by both Athabasca sandstone and basement rocks. A GeoTEM survey by International Uranium Corp. and Phelps Dodge Corp. identified a moderate-strength conductor which was not followed up.
Wright River
The property consists of 11 claims, totalling 8,889 hectares, located at the eastern margin of the Athabasca basin. The Wright River property is largely outside of the basin, where lake sediments samples of the regional Geological Survey of Canada (GSC) are elevated (up to 61 parts per million). Additionally, a coincident airborne radiometric anomaly, as defined by a 2009 regional GSC survey, highlights the centre of the property.
National Instrument 43-101 disclosure
The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Neil McCallum, PGeo, a qualified person, of Dahrouge Geological Consulting Ltd. and a director of Lakeland.