The work completed this summer has confirmed REE potential in a large 8km by 10km intrusive body. Overall grades have improved from 2009 and two distinct areas of potential have been identified within this complex.

The North Thelon uranium project is located beside Areva’s 134 million lb Kiggavik project, which is currently under a feasibility study.

The other major player in the area is Cameco, who are also actively exploring for uranium in the immediate area.

Strongly hematized and altered syenite hosts the highest TREO (Total Rare Earth Oxides) grades in the East Nutaaq area, with 99 samples returning grades of TREO higher than 0.1%, 10 of them containing grades of 1.0% to 4.4% TREO.

Samples were collected from West Nutaaq over an area of 2.5km by 4km. A total of 59 samples returned values of greater than 0.1% TREO, with three samples ranging from 1.1% to 7.4% TREO.

These samples averaged 0.42% TREO and 0.034% HREO with a peak of 0.527% HREO, using a 0.1% cutoff.

These samples are much fresher than those collected on the east side, and show considerably less iron and phosphate.