The purpose of the interpretation was to refine defined subsurface conductive targets for follow up with ground surveys and, if warranted, diamond drilling. The targets were first indentified through a VTEM airborne electromagnetic (EM) and magnetic survey completed by ESO Uranium Corp. (now Alpha Exploration) in 2006, as part of ESO’s “Hook Project”. Preliminary interpretation by Geotech in 2008 identified ~ 4.7km of subsurface conductive anomalies, interpreted as a conductive horizon, at or above the unconformity and which may be indicative of hydrothermal enrichment.
The 2015 Condor re-interpretation study identified twelve (12) Target Zones on Glenmark’s Carter Lake Project that are deemed worthy of follow-up exploration. These 12 Target Zones are interpreted to indicate conductive graphic zones close to the depth of unconformity (predicted to vary from 440m to 600m below ground level in this area) and are prioritized into three (3) distinct groups based on geophysical responses and together define three (3) discreet anomalous trends. Higher priority was assigned to these Target Zones based on overall response strength, consistency of strike angle and length, and proximity to magnetic lows. Each of these Target Zones have the potential to be caused by clay alteration, graphitic conductors or fault zones within the basinal sandstone units and/or underlying basement rocks; all of which offer compelling targets for potential uranium mineralization. The general northeast strike of these defined conductors, parallels the Paterson Lake Corridor and is interpreted as related to the mineralization structures currently being assessed on Fission’s Patterson Lake South Deposit and NexGen’s Arrow Prospect.
Regarding the engagement of Condor Consulting and the resultant re-interpretation of the Carter Lake VTEM geophysical surveys, Clive Massey, President and CEO, commented, “We could not be more pleased with the targets defined by previous operators at Carter Lake and the exceptional results of the 2015 interpretation vault this project to the top of our exploration portfolio. We believe the Carter Lake Project has the potential to be a breakthrough project that should be vigorously followed up this season.”
About the Carter Lake Project
The Carter Lake Project lies near the eastern edge of the Clearwater Domain, ~ 21km northeast of the Patterson Lake Project, where Fission Uranium Corp. announced a NI 43-101 resource estimate of over 105 million lbs U3O8 for their Triple R deposit (Fission press release of January 9, 2015).
The Project covers ~ 1,113 hectares on the Carter Lake Corridor, an exploration zone adjacent to, and interpreted as on strike with, the Patterson Lake Corridor, which hosts two of the most significant recent discoveries in the basin: Nexgen’s Arrow Prospect and Fission’s Patterson Lake South Deposit. The Carter Lake Project borders Alpha Exploration’s Hook Lake Project to the east and ground held by Cameco to the south. UEX borders the project to the west and north. Basement depths are estimated at between 400-500m, within the general discovery range of the McArthur River mine.
Read the press release here.
A PDF of the press release is available here.