JOGMEC can earn a 50% undivided interest in the project by funding Cdn $6m in exploration over four years).
The planned geophysical program will consist of approximately 23km of pole-dipole direct current (DC) resistivity surveys to search for alteration chimneys along the H-Grid Time Domain Electromagnetic (TDEM) conductive trend.
The combination of TDEM and DC resistivity surveys are effective in detecting conductors and hydrothermal alteration anomalies, respectively.
These features are typically found associated with fault zones and unconformity-type uranium deposits in the Athabasca Basin.
In addition, previous drilling results along the H-Grid conductor also identified favourable alteration indicators together with anomalous uranium values.
The Border Block project is located in the southwest area of the Athabasca Basin, near the Alberta border and comprises the Maybelle River, Gartner Lake, King and Castle South Extension properties.
The project (76,354 hectares/188,675 acres) covers an area where historic exploration data identified favourable basement rocks capable of hosting uranium mineralization.
