The Fisher River Project covers an area of 10,157 hectares on the outer edge of the Athabasca Basin, lying between and in the same geology as Cameco’s Harigan Deposit and UEX’s West Bear Deposit*. The primary target, a lobe-shaped subsurface conductive unit residing within a magnetic low, is a classic, shallow unconformity-type target. Basement depth is ~175m.
he primary targets at Fisher River were defined through interpretation of a GEOTEM airborne survey completed in 2006 by International Uranium, now Denison Mines.
In a 2006 report (Job No. 05439), Michael J. Cain, P. Eng. reported:
“Conductor 2 is a large zone following several weak subsurface conductive trends in the northern part of the block. The portion of this zone running along the west edge of the block and extending to the south is limited to an early time profile response with a weak total energy envelope response. The eastern portion of the zone displays a slightly stronger profile and total energy envelope response and contains several stronger conductors described below as conductors 3 and4. This zone correlates to a weak magnetic low following the same trends suggesting there is likely structural control associated with this zone.
Conductor zone 3 is a strong subsurface conductor that displays a 20-channel profile response on most lines with some weak B-field enhancement, and a strong total energy envelope and decay constant response. The zone lies within a weak magnetic low in the vicinity of some basement lineaments defined by the magnetic field data suggesting there is structural control to this conductor.
Conductor axis 4 is the strongest conductor in the survey block displaying a strong response on the total energy envelope and decay constant grids, along with strong profile response. This axis is shown on the interpretation map to lie within zone 2 as it is joined by a weak conductive trend, and lies within a magnetic low following similar trends. It was therefore assumed that the conductive signal from zones 2 and 3, and axis 4 are generated by a related body.”
Recommended work for Fisher River is:
(A) Compilation of geophysics and inversion of GEOTEM data(B) Additional airborne geophysics (V-TEM &/or Z-TEM) (C) IP resistivity survey to delineate targets(D) Diamond drilling * West Bear Deposit
As mentioned previously, the West Bear Deposit is ~15km northeast of the Fisher River project. West Bear is a classic unconformity-hosted uranium deposit developed under shallow Athabasca sandstone cover above a conductive graphitic gneiss unit. The deposit occurs along a conductive, graphite-bearing gneiss unit where it intersects the overlying Athabasca sandstone along the southern margins of the Dwyer Dome. A NI 43-101-compliant Preliminary Feasibility Study (Golder Associates 2010) of the West Bear Deposit gives a resource estimate to a Probable Mineral Reserve estimate of 1,492,261 pounds of U 3 O8 grading 0.94% at a cut-off of 0.18% U3 O8 , which represents 96% of the mineral resource. The high conversion rate reflects the near-surface nature of the West Bear mineralization which is amenable to shallow, open-pit mining. The study also reports metallurgical testing resulting in an estimated overall uranium recovery of 95%.
Athabasca Uranium Inc. is included in The Energy Report
""I'm interested in companies with assets in the Athabasca Basin. . .I told my readers about the big, safe assets first and looking back, we did a pretty good job, timing wise. Now that we have established the trend, we will start to pick off the best of the exploration plays because I think that that's a good place to make some money over the next year or two. I will definitely look at Athabasca Uranium Inc." View entire article
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Pathway Asset Management Mining Pick Of The Month: Athabasca Uranium Inc. (UAX:TSX.V ) - By Barbara Thomae- Senior Mining Analyst. click here for the article
Streetwise Reports interview with GoldStock Trades editor Jeb Handwerger, "Nuclear Power Is on an Upswing." click here for the article
.....There are other prospects in the Athabasca Basin just beginning to announce new alterations and discoveries. One small explorer that we are closely following is Athabasca Uranium (UAX:TSXV or ATURF:OTC) which stands out as a promising plum. click here to read the article