photograph : Alpha E xploration inc . s p r i n g 2 0 1 4
35
Chuck Downie, president and
CEO
of Athabasca Nuclear Corp., which is
the project's operator, says the syndicate
is a way for companies to advance their
uranium properties without diluting
their stocks.
"The syndicate is committed to
spending $6 million on the project over
the next two years," Downie says. "We've
already spent $1.5 million on airborne
surveys, prospecting and soil sampling.
We have just started a winter program
of ground-based gravity and radon sam-
pling to define drill targets."
In late November 2013, the syn-
dicate announced results of the 2013
radon sampling program in search of
drill targets at its Preston Lake uranium
property. The 246,643-hectare Preston
Lake property is the largest land pack-
age close to the
PLS high-grade uranium
discovery. The syndicate says many of
the radon anomalies fall within prospec-
tive exploration corridors delineated by
summer 2013 airborne geophysics and
ground evaluation.
"We hope to start drilling on the
property in March 2014," Downie says.
In late November 2013, Zadar
Ventures Ltd. announced it had pur-
chased a 100 per cent interest in the
Stony Road uranium project. The
project (10,545 hectares) is located on
the eastern arm of the Cable Bay Shear
Zone. The company says the zone has
been identified as an Athabasca Basin
regional structure on its nearby Pasfield
Lake uranium project that is highly
prospective for uranium mineraliza-
tion. Historic exploration of the project
includes regional geochemical sampling,
airborne and ground electromagnetic/
gravity surveys, and diamond drilling.
■
Metal detector: VTEM survey flying
over the Middle Lake project.
p26-35_Saskatchewan.indd 35 14-02-14 3:07 PM