Phase 2 follows on the 2,375mt Phase 1 spring drill program, and will focus on establishing a NI 43-101 compliant uranium resource. Lac Cinquante is situated within the 225,000 acre Angilak Property in Nunavut Territory, Canada.
Phase 2 of the program will consist of drilling, prospecting, sampling and field baseline studies, with the fourth quarter of 2010 dedicated to technical and resource modeling analysis and the goal of establishing a NI 43-101 compliant mineral resource by early 2011.
The Phase 1 spring drill program consisted of 2,375mt in 13 holes. This included a step-out hole that intersected uranium mineralization (0.21% over 1.96mt) 500mt along trend and west of the historic uranium deposit.
In addition, the company continues to receive assay results from core found in re-logged historic drill holes. Assays from historic re-logged core are being used as a guide for the current drill program, and to help identify new areas for follow-up.
