ESO - FISSION DISCOVER URANIUM BOULDER TRAIN WITH "OFF-SCALE" RADIOACTIVITY AT ...
/CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO") and its 50% Joint Venture partner Fission Energy Ltd (TSX-V: FIS) announce that recent field work on their Patterson Lake South Property, located along the south-west margin of Saskatchewan's Athabasca Basin, has resulted in the discovery of a significant 4 km long uranium boulder train.Of the fifty-four uranium boulders and hotspots in soils identified to date, twenty-nine or 54% gave "off-scale" (> 9,999 counts per second [cps]) radioactive readings, as measured by hand held Exploranium GR-110G total count gamma-ray scintillometers. Samples from these sites will be sent for assay this week.
The ongoing field program, which includes a radon survey, soil sampling, and boulder prospecting, will prioritize locating and tracing the source and extent of the boulders. Investigation of uranium boulder trains has led to the discovery of several major uranium deposits in the Athabasca Basin, including some of those of the nearby former producing Cluff Lake Mine (>60 million lbs produced).
Observations noted by the Joint Venture team in the field include:
Radioactive boulders were located on the first day of the current field program, a program that was directed by results of an airborne radiometric survey carried out by Special Projects Inc in , 2010). The highly mineralized boulders are soft, friable and easily broken down to cover small fragments and are associated, predominantly, with basement metasedimentary boulders and suggest a significant bed rock source in an area of pre-Athabasca basement rocks, having the potential to host high grade mineralization. While there is no certainty that any in situ uranium deposits will be discovered on the property, boulder mineralization appears to be analogous to the Cluff Lake and Millennium deposits. Typically the mineralized boulders are soft, friable and easily broken down to small fragments that are associated, predominantly, with basement metasedimentary boulders. This, and the large number of boulders identified, indicate a potentially nearby bed rock source in an area of pre-Athabasca basement rocks. The source has the potential to be high grade mineralization, analogous to the deposits mined at Cluff Lake, and located at the Roughrider and the Millennium deposits. The boulder train is located only 1.Patterson Creek Mine - News
The Patterson Lake South Property is accessible by road with primary access from all weather Highway 955, which runs north to the former Cluff Lake mine, and passes through the nearby UEX-Areva Shea Creek discoveries (approximately 100000000 lbs
Officials said to expect a good number of people, said Tom Patterson, pastor of the First Baptist Church of Artemus. Some residents said they think a coal impoundment that was part of a surface coal mine on a hill above Kayjay failed, dumping a wall of
“The interesting thing about the Fourmile Creek watershed is historically it was a major mining area,” Murphy says. “So there are quite a number of mine tailings piles and waste rock in the watershed that, without the trees around and grass and shrubs
Price of Freedom Museum, Old Patterson School building, China Grove — Sundays 3-5 and by appointment. American war memorial dedicated to men and women of the armed services. Intersection of Weaver, Patterson Roads. www.priceoffreedom.us, 704-857-7474.
The Patterson Lake South Property is accessible by road with primary access from all weather Highway 955, which runs north to the former Cluff Lake mine, (>60000000 lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries,
Fission finds “off-scale” boulder train at Patterson Lake; Versant ...
Canada-based Fission Energy Corp ( CVE:FIS )(OTCQX:FSSIF) said Monday that it has discovered a 4 kilometre long radioactive boulder train at its joint venture Patterson Lake South uranium property, located on the southwest margin of Saskatchewan’s Athabasca Basin.
Of the 54 radioactive boulders and hotspots identified in soils to date, 29, or 54%, produced “off the scale” radioactive readings, as measured by hand-held gamma-ray meters. Assays are still pending from the new discovery, which was made through recent field work.
Fission said the highly mineralized boulders and hotspots included crumbled grains of pitchblende/uraninite, with associated yellow oxide minerals and full sized boulders, over 45 cm in their largest exposed dimension, containing mineralization.
The Patterson Lake South property is 50% owned by partner ESO Uranium Corp, with the remaining stake held by Fission. The ongoing program at the property, which includes surveys, soil sampling and boulder prospecting, will focus on locating and tracing the source and extent of the boulders.
Similar work has led to some of the most significant uranium deposits in the Athabasca Basin, including the nearby Cluff Lake Mine, where more than 60 million pounds of uranium were produced.
The new find by Fission and ESO prompted analysts at Versant Partners to re-iterate Fission’s buy rating, as the discovery provides “additional “blue sky” upside outside of [Fission's] flagship Waterbury Lake asset”, said Versant in a research note.
“The team is excited by the discovery of this significant boulder train so early in our field program,” said Fission president and COO, Ross McElroy.
“The number and size of anomalous samples, in addition to the pattern of dispersion, lead us to believe we may be close to the source, well within our claim block.”
The newly discovered boulder train is located just 1.5 kilometres west of the all-weather provinical highway 955, which runs north to the former-producing Cluff Mine.
Patterson Lake South covers more than 30,000 acres in 8 mineral claims on the southwest margin of the Athabasca Basin in the Broach Lake – Patterson Lake area. The project is also located near the 88.1 million pound Shea Creek discovery, which is jointly owned by UEX Corp (TSE:UEX) and Areva.
Indeed, this is positive news for Fission. “[Patterson Lake South's] close proximity to a former producing mine and the Shea Creek discovery highlights the ease of access and developed infrastructure in the area,” concluded Versant.
Patterson Creek Mine - Bookshelf
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Federal enforcement agency responsible for the health and safety of the nation's miners.
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