HORNBY BASIN

The Port of Kugluktuk, Kitikmeot Region. Nunavut’s westernmost community, near the border with the Northwest Territories and 95km from Hornby Basin

THE HORNBY BASIN

An Underexplored Proven Resource

The Hornby sandstone basin represents one of three areas in Canada in which the geological environment is favourable for the occurrence of unconformity-type uranium deposits.

Unconformities happen for two reasons: sediment deposition stopped for a considerable time and/or existing rocks were eroded prior to being covered by younger sediment.

CONTROL OF THE HORNBY UNCONFORMITY

This is the first time the entire Hornby district has been held under a single entity and consolidated into an over 3,400 Km2 (840,158 acre) land package. The project offers 8.25-Million-pound historic resource and over 40 underexplored showings.

HORNBY URANIUM BASIN

Canada is the “Saudi Arabia of Uranium” accounting for roughly 13% of total global output. There are 3 uranium basins in Canada: Athabasca, Thelon, & Hornby

  • Tremendous exploration potential with no new discoveries since the 1980s due to lack of consolidated mineral rights ownership and focus on the Athabasca basin
  • Last extensive exploration programs occurred in the 1970s: BP, Cominco, Hudson’s Bay, and Uranez
  • In 1976 Esso Resources discovered the Mountain Lake Deposit (8.2mlbs at 0.23% U₃O₈)
  • Similar geological settings: Helikian-age (1.5 Ga) sandstone basins
  • Drilling results include 5.19% U3O8 over 0.9m, and 2.27% U₃O₈ over 3.9m
  • Extensive exploration occurring for Copper and Nickel in the area resulting in more infrastructure to enable more efficient exploration and development
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PROJECT OVERVIEW

  • Located in the uriniferous area known as the Hornby Basin, in Canada’s territory of Nunavut
  • Only 95 km SW of Port town of Kugluktuk, 145 km NNE of Port Radium (Canada’s first producing uranium mine), 555 km NNW of Yellowknife
  • Extensive consolidated land package of 3,407km² (840,158 acres)
  • Over 40 underexplored uranium showings outside of the Mountain Lake Deposit
  • Geologically similar to the Athabasca Basin
  • Multiple uranium deposit types including unconformity-associated and stratabound sediment hosted

PROJECT PORTFOLIO

Extensive land package with an historic uranium deposit and over 40 prospects identified

MINERAL DEPOSIT

Mountain Lake Uranium Deposit
  • Non-compliant historic resource (2005) of 8.2 million lbs. U3O8 at 0.23% U3O8
  • High grade (up to 5%) intersections related to structure

KEY PROSPECTS
MINERAL SHOWINGS

3Ts
  • Samples of 10%, 6.4% U₃O₈ in boulders
  • Geophysical conductors – proven graphitic sources contain sandstone margin and underlying unconformity

Echo

  • 6.13% U₃0₈ in rock samples, red hematite alteration and brecciation

Damien

  • Structure controlled mineralization where drilling in 2007 by Hornby Exploration intersected 0.12% U₃O₈ over 9.1 m, including 1.04% over 0.5 m from 67m
  • Every hole intersected pitchblende mineralization

Bear Valley

  • Area of intense radioactivity and soil anomalism, considered underexplored and high grade

New Mountain Lake Area

  • The area surrounding the Mountain Lake Lease is highly prospective and has been historically underexplored
  • Extensive Dismal Lake geology – prospective for a mountain lake target
  • Two significant conductive zones interpreted from 2007 GEOTEM Geophysics
  • Multiple faults – potentially reactivated basement faults

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OUR PROJECTS

MOUNTAIN LAKE DEPOSIT

KEY
PROSPECTS

COVETTE PROPERTY (QUEBEC)