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Thursday, Feb 22, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Alternative Energy

Basin Uranium and Skyharbour Resources find significant mineralization at Mann Lake

The phase two program was 2,776 metres of diamond drilling over four holes

Basin Uranium and Skyharbour Resources find significant mineralization at Mann Lake
Open pit mine. Photo via Energy Education, University of Calgary

Basin Uranium Corp. (CSE: NCLR) (OTC: BURCF) (FSE: 6NP0) and its partner Skyharbour Resources (TSXV: SYH) (OTCQX: SYHBF) (FSE: SC1P) reported finding significant mineralization from its three-hole Phase 2 drill program at the Mann Lake project in northern Saskatchewan.

The two companies engaged in 6,279 metres of diamond drilling on the Mann Lake property during their 2022 drilling campaign.

The phase two program was 2,776 metres of diamond drilling over four holes. The company restarted drilling at 572 meters after the first hole, MN22-006 became wedged. It served as a follow-up hole to MN22-002, drilled in phase 1. The following two holes, MN22-007 and MN22-008 pinpointed the southeastern portion, which had previously been untested.

The company chose to drill here to test a strong interpreted basement conductor situated on a magnetic low and on the border of a gravity low anomaly.

The drilling discovered elements like boron, cobalt, copper, nickel and lead, which are usually found near uranium deposits. That helps scientists figure out where to look for uranium.

Read more: NevGold to hit the ground running at Limousine Butte in 2023: Caesars Report

Read more: NevGold submits exploration and expansion plans for gold project in Nevada

Pathfinder elements help scientists find where to look for uranium

Hole MN-22-007 returned boron (via Dravite) and uranium mineralization at the uncomformity at 671.8 meters. Subsequently, dravite is a boron rich clay mineral found often alongside uranium mineralization. Scientists use dravite has an indicator of uranium exploration potential.

Notable intercepts include:

  • 1,060 parts per million B from 669.3 to 669.8 metres (0.5 metre), 931 ppm B from 668.8 to 669.3 metres (0.5 metre) and 614 ppm B from 668.8 to 671.8 metres (2.5 metres) in conjunction with 41 ppm triuranium octoxide from 671.8 to 672.3 metres (0.5 metre).

  • The company intersected significant polymetallic mineralization below the unconformity of hole MN22-007, including 884 ppm Cu from 679.2 to 679.7 metres (0.5 metre) and 158 ppm zinc from 676.0 to 683.75 metres (17.75 metres).

  • Drilling also encountered significant boron mineralization in hole MN22-008, intersecting the unconformity at 649.02 metres and returned 386 ppm B from 646.02 – 648.52 metres (2.5 metres).

Basin Uranium also owns the Wray Mesa project in southeastern Utah.

It’s seen significant earlier historical uranium and vanadium exploration. Additionally, it’s located next to the permitted and production ready La Sal project.

The Mann Lake project is located 25 kilometers southwest of the McArthur River Mine and 15 kilometers to the northeast along strike of Cameco’s Millennium uranium deposit, Athabasca basin, northern Saskatchewan.

The company also has an option to buy 75 per cent interest in the Mann Lake uranium project from Skyharbour.

It also holds an option in the CHG gold exploration project 15 kilometers southwest of Clinton in south-central British Columbia.

Skyharbour shares dipped $0.005 and closed at $0.37. Meanwhile, Basin Uranium shares also dipped $0.005 but closed at $0.135.

 

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