JOGMEC has elected to accelerate funding by providing an additional $500,000 during the second earn-in period, which ends on March 31, 2010.
Hy–Tech Drilling completed the mobilization of the drilling crew and equipment to the site and drilling commenced on February 05, 2010. A drill programme consisting of seven holes and 1604 metres was completed on the border block property during the summer of 2009.
This programme was designed to test uranium targets at or near the unconformity between the Athabasca sandstone rocks and the underlying basement rocks. Weak hydrothermal alteration was developed in the basement rocks, generally along fractures, the company said.
Two areas of anomalous U were encountered in the basement rocks: a three metre interval of 7.7-15.6ppm U at a depth of 95.8-98.8 metres in DDH KNG09-2 and a 20 metre interval of 6.1-7.7ppm U at a depth of 190.0-210.0 metres in DDH GL09-4.
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 exploration data identified basement rocks capable of hosting uranium mineralization.
The basement rocks are thought to be correlative with those found on the adjacent Areva/Uex Shea Creek project, which hosts uranium mineralization in the Anne, Collette and Kianna deposits.
