The company said that assays reported from the eastern end of the main zone represent some of the highest grades reported to date on the property, including 6.86% U3O8 over 0.58m.
The area of known mineralization at Lac Cinquante deposit has now been extended to over 1.35km and drilling confirms the deposit remains open along strike and to depth.
The company said that the receipt of these final assays allows commencement of the modeling work needed to deliver the project’s first NI 43-101 mineral resource by the first quarter of 2011.
New Assay include: 10-LC-089 – 6.86% over 0.58m; 10-LC-090 – 2.25% over 1.05m; 10-LC-091 – 1.02% over 2.04m; 10-LC-099 – 3.56% over 0.86m; and 10-LC-101 – 2.77% over 1.62m.
All holes intersected the Lac Cinquante Main Zone between 27m and 265m depth.
The 2010 Program at Angilak operated from April to October and consisted of new camp construction, property-wide prospecting, environmental baseline studies, and a total of 16,600m of resource definition and exploratory drilling in 107 holes.
The prime objective in 2010 was to generate data necessary to deliver the first NI 43-101 mineral resource at Lac Cinquante.
New drilling has confirmed mineralization at the main zone, down to a depth of 275m, and expanded mineralization to 1.35km of strike length.
As part of the 2010 program, two exploratory holes encountered significant uranium mineralization 500m and 1.8km west of Lac Cinquante.
