Uranium Drilling NewsPress Release Source: FIELDEX EXPLORATION INC.
Fieldex starts drilling on Lac Sairs uranium property in Quebec
Wednesday May 16, 9:45 am ET
ROUYN-NORANDA, QC, May 16 /CNW Telbec/ - Fieldex Exploration Inc. (FLX: TSXV and F7E: Frankfurt) has commenced a drilling program on the company's Lac Sairs uranium property located 100 kilometers northeast of North Bay (Ontario) within northwestern Quebec near the Quebec-Ontario border. The property comprises 17 claim blocks with a total area of approximately 1,000 hectares or 10 square-kilometer.
The company intends to drill 9-holes, totaling 2,100 m as a first phase to increase the potential of historical uranium zone located in south-central Lac Sairs property. This uranium zone, which has yielded up to 10 pounds per ton of U3O8, was drill delineated in 1978-79 by partners Valdez Resources Industries and Nuspar Resources.
About the Lac Sairs uranium property
The property occurs within the Kipawa basin in Proterozoic Grenville
Province. The basin comprised of metamorphosed and folded sedimentary
sequences that have been intruded by composite intrusive bodies. The most
important intrusive rocks on the property an alkaline intrusive complex, which
is also folded along with the sedimentary host rock. The uranium
mineralization occurs both along this intrusive-sedimentary contact and within
the sedimentary rocks away from the contact.
The Lac Sairs project was initiated based on one of several possible
geological concepts, the most attractive one being the Kipawa basin
potentially hosting the unconformity-type deposits similar to those in the
prolific Athabasca basin in western Canada. The unconformity-related deposit
types, for example, Cigar Lake, McArthur River, Eagle Point and McClean Lake,
constitute approximately 33% of the world's uranium resources and include some
of the largest and richest deposits. These deposits form from geological
changes occurring close to major unconformities. Below the unconformity, the
sedimentary rocks hosting the mineralization are usually faulted and/or
brecciated.