The sample sites averaged 19,738 counts per second (range of 5000 to 49,500 cps) using a hand-held RS-125 spectrometer. The radioactivity is thought to be primarily caused by uranium mineralization as indicated by semi-quantitative spectrometer analyses and the presence of yellow secondary uranium minerals. The mineralized zone is the extension of the Lorenz Gully southwest zone on the adjacent Lorenz property, where Virginia Energy is earning up to 100% from Xemplar Energy Corp. The mineralized trend has now been traced for around 900 m strike length on the two properties, and is located 300 to 500 m laterally from outcropping sandstones sitting above the Otish basin unconformity.
BRDC’s field consultant, IOS Services Geoscientifiques Inc. completed a two-week field program consisting of prospecting, 405 soil samples and a 25 line-km ground magnetic survey. The program was hampered by very poor early winter weather conditions that restricted the fieldwork to only one of the three prime exploration targets.
Mineralization is hosted in intensely hematite-altered basement granitoid, and consists of fractures and veins carrying hematite, yellow secondary uranium minerals, pyrite, copper sulphides and an unidentified barium mineral, as indicated by portable XRF analyzer. Additional petrographic studies are planned. Rock samples have been sent to SRC Geoanalytical Laboratory for uranium and gold assays and multi-element ICP analyses; soil samples will be sent to ALS Chemex for analyses.
In 1979, Uranerz Exploration and Mining Ltd. drilled two drill holes from a single set-up within the Strategis portion of the mineralized trend. Hole LG-34 is reported to have intersected 2.0 metres grading 1260.7 ppm U3O8, including 0.5 m grading 3440 ppm U3O8 (Quebec assessment report GM36332). BRDC completed an airborne radiometric-magnetic survey in 2007, which identified several promising anomalies for follow-up, including the area covered by this program.
Under the terms of an option agreement signed on September 15, 2009, Virginia Energy can earn a 100% interest in the 5100-hectare Strategis property from BRDC, subject to a 2% Net Smelter Royalty interest in favour of BRDC and certain underlying vendors, of which 1.5% can be bought back at any time by payment of CAD1.5 million. To earn its interest, Virginia Energy paid $50,000 on signing and must issue CAD180,000 in shares within four months after signing. BRDC is financing the current work program.
