MOUNTAIN LAKE DEPOSIT

By Andrew Johnson from Yellowknife, Canada – Kugluktuk, CC BY 2.0, Link

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MOUNTAIN LAKE URANIUM DEPOSIT

  • Five claims totaling 5,511 Hectares, (13,618 Acres) (1.6% of Hornby land package).
  • Worked extensively from 1969-1980 as two separate properties by Acquitane & Imperial Oil. The Mountain Lake deposit was discovered in 1976.
  • Non-compliant historic resource (2005) of 8.2 million lbs. U3O8 at 0.23% U3O8.
  • High grade drilling results up to 5% U3O8 which have not been followed up on.
  • Hosted in a 500 m wide, NE-trending graben bounded by the Imperial (west) and Aquitane (east) faults. Graben is downthrown 60 m relative to the west and 35 m relative to the east.
  • Only 26,000m of drilling completed over 210 shallow drill holes.
  • 100% ownership, acquired by Future Fuels as part of the regional district consolidation.

MOUNTAIN LAKE GEOLOGY

  • Area of basement granites and rhyolites along southern edge of property (12%) Remainder of property is underlain by Helikian aged basin sediments (88%)
  • Three unconformities present:
    • Hornby-Basement
    • Dismal-Basement
    • Dismal-Hornby
  • Unconformities are key for the development of unconformity-hosted uranium deposits as they province the chemical horizon that caused uranium to drop out of solution and deposit mineralization
  • Central portion dominated by key Units 11 and 12 of lower Dismal Lakes Group
  • Mountain Lake Deposit is located near center of property in a graben bounded by Imperial and Aquitane faults
  • Multiple other faults are present across the property
Click image to enlarge
Click image to enlarge

Deposit formation model – The same basic ingredients as nearly all uranium deposits:

  • Oxidizing fluids transport hexavalent U scavenged from basement or basement-derived rocks (Migmatites or sediments) Carbonaceous organic matter in Dismal Unit 12 shales acted reductant; interpreted that reduced fluids from overlying unit 12 entered unit 11 sandstones and created redox conditions.

  • Oxidized fluids meet redox boundary, U3O8 reduced to tetravalent state and precipitates in open space.

Structurally-controlled, higher-grade mineralization:

  • Faults are reported as primarily subvertical or steeply-dipping.
  • Very few inclined holes completed; low probability of intersecting steep structure with vertical holes.
  • 77Y-35 intersected high-grade mineralization, including 5.19% U3O8/0.9 m within 2.27% U3O8/3.9 m. Structure reported to dip NW ~-80, but inclined follow-up hole drilled west.
  • This intercept associated with a bend in Imperial fault; note bend in parallel fault near SW end of deposit.
  • Fault-related mineralization is an underexplored target with potential to add higher grade, lower volume pounds.
  • Fault-related mineralization more appealing than stratabound at greater depths, potential for underground mining.

PROJECT PORTFOLIO

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

KEY PROSPECTS
MINERAL SHOWINGS

MINERAL DEPOSIT

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OUR PROJECTS

HORNBY
BASIN

KEY
PROSPECTS

COVETTE PROPERTY  (QUEBEC)