The properties consist of five claims covering 1,701 hectares and hosts several uranium deposits previously owned by Hathor Exploration, Denison Mines, and UEX.
2Z and Madison feature flat- to shallow-dipping late Proterozoic Athabasca group sandstone which overlies highly deformed metasedimentary and granitic basement rocks of the trans-Hudson orogeny.
Historical estimates by Noranda Exploration identified the presence of a conductor, alteration, and mineralization during geophysical studies and a diamond drill program conducted in 1979.
Till date, 20 drill holes of 2,000meters have been completed on the property encountering values of over 500 ppm and one of twenty drill holes encountering a maximum value of 800 ppm over a 30cm interval.
The company expects future work programs to be modeled on recent basement hosted discoveries.
The property has not yet been adequately tested for basement-hosted high-grade uranium mineralizations that have been discovered in many of the properties in the eastern basin.
