Athabasca Nuclear Corporation: Western Athabasca Syndicate Identifies Twenty-Three Gravity Low Anomalies at Preston Lake Prop...
20 Febrero 2014 - 7:19AM
Marketwired
Athabasca Nuclear Corporation: Western Athabasca Syndicate
Identifies Twenty-Three Gravity Low Anomalies at Preston Lake
Property
CALGARY, ALBERTA--(Marketwired - Feb 20, 2014) - Athabasca
Nuclear Corporation (TSX-VENTURE:ASC) ("Athabasca Nuclear" or
"Corporation") is pleased to announce, as Operator, the completion
of gravity surveys which have resulted in the identification of
twenty-three (23) gravity low anomalies on the Western Athabasca
Syndicate's (the "Syndicate") flagship Preston Lake Uranium
Property (the "Property"). The identification process covers a
portion of its' Property and included a RadonEx survey (ground and
water) to further refine targets in advance of a drill program
scheduled to commence in March.
"As the largest tenure holder in the Western Athabasca Basin and
having carried out the most significant regional target delineation
program in the area, we are keen to commence further exploration
through drilling on some of the gravity low anomalies identified
to-date," stated Ryan Kalt, Chief Executive Officer (Interim) of
the Corporation.
Preston Lake
Property Map and Regional Exploration Corridors:
http://www.athabascanuclear.com/wp-content/uploads/2014/02/Patterson_Lake_Regional_Map.pdf
Interpretation of the gravity data by Phil Robertshaw, P.Geo.,
has successfully delineated gravity low anomalies associated with
previously identified high-potential exploration corridors defined
by structure, magnetic lows, conductors, favorable geology and
geochemistry. Gravity is a defining tool for exploration for
uranium in the Athabasca Basin and was a key mechanism for
vectoring in on the recent discovery made by NexGen at the Rook 1
Project. Hydrothermal fluids associated with high grade uranium
deposits will cause extensive alteration of the host rock,
resulting in displacement and removal of minerals/elements,
creating porosity and subsequent density contrast. This density
contrast will be expressed as a gravity low anomaly and is a prime
drill target when qualified by other coincident indicators of
uranium mineralization such as geochemistry and radon.
Preston Lake
Property - Gravity Survey Coverage:
http://www.athabascanuclear.com/wp-content/uploads/2014/02/Preston_Lake_Exploration_Update.jpg
In addition, several of the Syndicate's gravity low targets have
been further refined using a proprietary RadonEx survey which has
been instrumental in assisting with numerous discoveries in the
Athabasca Basin region. The Syndicate is carrying out a ground EM
survey to further refine conductor trends and pinpoint drill pad
locations. Details concerning the upcoming drill program shall be
provided in the near-future.
The 246,643 hectare Preston Property is the largest individual
property proximal to Fission Uranium Corp.'s Patterson Lake South
("PLS") high-grade uranium discovery and the recent discovery made
by NexGen Energy ("NexGen") on the Rook 1 Project (see NexGen's
news release dated Feb. 19, 2014). The Syndicate is the largest
land tenure holder in the southwest Athabasca Basin region
including properties strategically situated to the southwest and to
the northeast of the PLS and NexGen discoveries.
About the Preston Lake Property:
The 246,643 hectare Preston Lake Property is the largest land
package proximal to the Patterson Lake South (PLS) high-grade
uranium discovery, owned by Fission Uranium Corp. The Syndicate
continues to employ a systematic, proven exploration methodology
that has led to numerous uranium discoveries in the region and
throughout the Athabasca Basin. This has been very effective in
identifying numerous high-quality targets with similar geological
features and exploratory indicators also present at the nearby PLS
discovery and in other deposits in the Athabasca Basin.
Management cautions, mineralization present on proximal
properties is not necessarily indicative of mineralization on the
Syndicate's Property.
Qualified Person:
Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo.,
is the Qualified Person as defined by National Instrument 43-101
and has approved the technical information in this release.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX-VENTURE:ASC) is a junior
uranium exploration company focused on the exploration and
advancement of its significant uranium portfolio in Saskatchewan
including the Preston Lake, Patterson Lake East, Botham Lake, Parry
Lake, Martin River, Karras River and Spring uranium projects. For
more information on each of these projects, please visit
www.AthabascaNuclear.com.
Athabasca Nuclear is the Operator of the Western Athabasca
Syndicate, a group exploration effort of a 287,130 hectare (709,513
acre) package of uranium properties which is the largest land
position along the highly prospective margin of the Western
Athabasca Basin controlled by a single group (the "Preston Lake
Project"). Under the terms of the agreement, each of the member
companies have an option to earn 25% of the five uranium properties
comprising the Western Athabasca Syndicate Partnership by making a
series of cash payments, share payments and incurring their
pro-rata amount of the total $6,000,000 in exploration expenditures
over the two-year earn-in term of the agreement. The properties
were acquired for their proximity to the Patterson Lake South
discovery and interpreted favorable geology for the occurrence of
Patterson Lake South-style uranium mineralization. The bulk of the
syndicate land package is bisected by all-weather Highway 955 which
runs north through the Patterson Lake South discovery to the former
Cluff Lake uranium mine.
Signed,
Ryan Kalt, Chief Executive Officer (Interim)
Forward-Looking
Statements
This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Athabasca Nuclear CorporationRyan Kalt, LL.M., M.B.A.Chairman
and Acting
CEO403-470-3265ryan.kalt@athabascanuclear.comwww.AthabascaNuclear.com
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