ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) discovered prospective uranium exposure over the Cable Bay Shear Zone (CBSZ) during its aerial electromagnetic survey campaign at its Plateau property in the Athabasca Basin.
On Tuesday, the company announced results from its mobile magnetotelluric (MMT) survey over 2,068 line kms over Plateau. It discovered that the CBSZ shows similar geological characteristics to the Wollaston-Mudjactic Transition Zone, a corridor located 65 km to the west of the project.
This corridor hosts the Cigar Lake and McArthur River mines, which respectively hold the titles of the highest-grade and largest high-grade uranium mines in the world.
The CBSZ structural corridor contains known uranium occurrences and consists of the prospective Mudjatik Domain, which includes geological formations known to host uranium mineralization.
Analysis of the survey revealed approximately 62 km of cumulative conductors across the project area, including two highly promising targets that coincide with conductors and prospective structural disruptions. These targets are on the same trend and have the potential to originate from previously discovered radioactive boulders.
The company’s maiden 2023 exploration program includes conducting a total of seventeen EM surveys across ATHA’s 3.4-million-acre exploration portfolio in the Athabasca Basin. It’s organized into four distinct exploration districts: North Rim District, East Rim District, West Rim District and Cable Bay District.
These districts encompass all major producing, past-producing and developing uranium mining camps within the Athabasca Basin.
“The completion of the Cable Bay Plateau MMT survey by Expert has defined the lineation of the Cable Bay Shear Zone through the median and northern portion of the property,” said Doug Adams, VP of exploration.
“Coincident with this regional structure are occurrences of enhanced conductivity, which will be the basis for a targeted evaluation of the trend, including the 2D and 3D inversions scheduled for the end of 2023, followed by the integration of the 3D geochemistry and geology.”
Adams also said that all of the geophysical, geochemistry and geological data sets will be finished in Q1, 2024 and be available as part of the Cable Bay Exploration District’s regional evaluation.
We have news: ATHA Energy Announces Results from Large-Scale Electromagnetic Survey Program on Plateau Project → $SASK.CN $SASKF $SASK Results have been received and processed from four of seventeen project areas, resulting in 122 km of conductive lineaments … #uranium… pic.twitter.com/GVuhqWuyWh
— ATHA Energy Corp $SASK.CN $SASKF (@athaenergycorp) October 31, 2023
ATHA has the largest reported land package in the Athabasca Basin
ATHA initiated the largest-ever multi-platform EM survey in the history of the Athabasca Basin in August.
This survey was designed to de-risk and test ATHA’s dominant land package, which stands as the largest reported land package in the history of the Athabasca Basin. Additionally, ATHA’s 10 per cent carried interests in claims held by NexGen Energy Ltd. (TSX: NXE) and IsoEnergy Ltd. (TSXV: ISO) further complement the exploration efforts.
To date, it has received and processed results from four of the seventeen project areas. These results have yielded 122 km of conductive lineaments and the identification of fifteen prospective targets across the North Rim, East Rim and Cable Bay exploration districts.
ATHA has also completed additional EM surveys on the remaining thirteen projects and is currently processing them. The company anticipates that these results will further define the prospectivity of its largest exploration portfolio in the Athabasca Basin throughout the remainder of 2023.
The remaining portion of the first phase of ATHA’s exploration-at-scale strategy will include the full integration of the 2023 geophysics and regional geochemistry, scheduled for completion in the first quarter of 2024.
ATHA Energy Corp. has made significant progress in its exploration efforts in the Athabasca Basin. The integration of geophysics and geochemistry in early 2024 will provide a comprehensive understanding of the region.
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