Uranium and Gold!(Observations and tid bits from the news releases. My comments are in brackets ( ) and are my personal opinion. For investment purposes it is always wise to get professional feedback!)
“This suggests that elevated gold values may be characteristic for deposits in the South West area.”
(Amok’s large gold/silver/Uranium content was in their drill core. I do not recall gold values for their boulder train. I’m not sure they actually analyzed their boulder train? The good news is that there is actually gold there for sure now!)
“Drill targets have been selected from a broad review of technical data including geophysical surveys and parameters suggested by data from diamond drill hole information in assessment reports presented by Canadian Occidental in the late ‘70s.”
(Looks like they have definite target areas, which is good forward progress)
“Permitting is well advanced for a 15 hole drill program to test these targets, supported by geophysical surveys to confirm geological structures and conductors and trenching to confirm local ice directions. Local ground conditions should allow work to continue through freeze up. FIS adds: Additional potential targets are also under evaluation. (And) : The partial analysis is carried out to determine if the uranium is available for extraction by normal metallurgical processes.”
(They must have very high confidence in finding the ore body(s) to be thinking of metallurgy at this point).
“This constraint of a restricted erosional window reduces size of the search area, which also is expected to lie within the path along which the ice sheet pushed out the boulders found in the moraine.”
(Optimism that they are in the target area or at least have narrowed down the drill target area.)
“Assessment reports from Amok Ltee (Areva) describe the exploration work which lead to the discovery of the Cluff Lake Mines by drilling up-ice, generally NE, from uranium boulder clusters, to locate sources in several discrete deposits.”
(Same scenario for ESO/FIS)
“The drill hole data available include geological logs and down-hole radiometric surveys which in one hole, 250 meters from the target area, showed two short intervals of sharply anomalous radioactivity in the basement rocks intersected. This suggests possible proximity to mineralization.”
(Again good reason to think they are near the ore body(s).)
“The JV Partners, ESO Uranium and Fission Energy, carried out state of the art magnetic and airborne radiometric surveys in 2009 which, with detailed ground follow up in 2011, led to the discovery of a boulder field with an unusually high percentage of high grade uranium boulders.”
(Indicates that what they find in the drill targets have the potential to be ultra high grade. BNN reported a few weeks back that the average Uranium deposit in the world runs 0.03% or 300 PPM). (The 39% boulder (390,000 PPM is 1300X higher concentration).
(South Patterson Lake is looking better all the time and it is obvious that this project is moving head. )
(In the turbulence of today’s markets, extra due diligence is needed for the wise!)
Solver