The company said that the main focus will be to build on the J-Zone unconformity high grade uranium discovery made earlier this year. The J-Zone currently comprises an area 90mt X 50mt wide as defined by 21 closely spaced drill holes, most of which were vertically drilled, and is open in all directions.
For the current program CAD2.07m budget was approved by the joint venture in June. The company added that 13 drill holes totaling an estimated 4,000mt, including several vertical drill holes will be collared from a barge on the lake. Step-out drilling will continue along the mineralized trend towards the Highland Zone (WAT10-092), 130mt to the west.
In addition, two holes are planned to further test the J-Zone East (WAT10-094A), located 70mt east of the J-Zone. A marine acoustic seismic survey over the East-West Corridor between Discovery Bay and Talisker will be completed.
Mapping and prospecting unexplored parts of the Waterbury Lake Property that exhibit high mineral potential will continue. The program is expected to be completed by early September.
The Waterbury Consortium has budgeted CAD30m for exploration at Waterbury Lake over the next three years.
