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Hatchet Lake and Murphy LakeStatus: Drilling-stage
Commodity: Uranium
Ownership: 50% Virginia Energy -- 50% Denison Mines Joint Venture
Operator: Denison Mines Corp.
Location: 30 km north of Points North Landing, Saskatchewan
The Denison JV properties are located in the northern part of the Athabasca basin and cover the strike continuation of faults and conductors which host nearby unconformity-related uranium deposits and prospects such as La Rocque Lake (Cameco) and Wolly (Areva - Denison). Sandstone cover on the properties is relatively thin, ranging from nil to approximately 250 m. Deep penetrating airborne electromagnetic and magnetic surveys have been completed over all the claims and detailed ground surveys have been completed on specific targets.
On the Hatchet Lake property, historic drill holes encountered a number of uranium, cobalt, copper, nickel, arsenic, and gold-enriched sulphide intercepts, including one intersection of 2.5 metres of 7.34% Co, 1.66% Ni and 16.07% As (true width unknown). In recent years the Joint Venture completed scout drilling on several EM conductors, encountering non-radioactive sulphides and alteration near the unconformity. Additional geological compilation, ground EM surveys and re-assaying of old core were completed in 2009 in preparation for a follow-up, ground-based drill program.
On the Murphy Lake property, several conductors have been identified by airborne and ground electromagnetic surveys, and have been tested by wide-spaced drilling. The Joint Venture's Hole MP-08-01 tested one of the conductors and intersected a very promising zone of alteration and anomalous radioactivity (600-1700 counts per second) for 1.9 metres below the faulted unconformity contact, at a depth of about 194 m. Analyses from two 20-centimetre samples of split core from this zone yielded uranium values of 537 and 724 ppm U.
For more information on Denison JV properties, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
| October 30, 2008 |
Santoy Provides Exploration Update on Denison JV Uranium Properties |
Hatchet Lake & Murphy Lake Maps
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Fir IslandStatus: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 20 km east of the village of Stony Rapids, Saskatchewan
The Fir Island property is straddles the northern margin of the Athabasca basin and the regionally important Black Lake fault. The historic Nisto uranium mine occurs in basement rocks to the northwest of the fault, directly adjacent to the property boundary. Canalaska Uranium and previous operators have identified additional promising basement-hosted uranium targets further to the west.
Work by the Company has defined strong radon-in-lake water and soil gas hydrocarbon anomalies, and elevated radioactivity and clay alteration in sandstones on the Fir Island property. The Black Lake fault and sub-parallel conductors are evident from airborne geophysical surveys. Four ground audiomagnetotelluric (AMT) lines were surveyed in 2008. The AMT lines are interpreted to indicate the presence of a significant resistive basement high or uplift, adjacent to the Black Lake fault.
Fir Island Block
For more information on the Fir Island property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
Fond du LacStatus: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 60 km north of Points North Landing, Saskatchewan
The Fond du Lac property covers the shallow northeast margin of the Athabasca Basin. Formerly part of the Joint Venture with Denison Mines, it is now 100% owned by Virginia Energy. The claims do not include traditional graphite-related electromagnetic conductors, however, uranium-enriched basement rocks occur to the northeast of the unconformity in this area. Systematic lake sediment sampling program and sandstone boulder sampling programs were completed on the project in 2008, as well as processing of selected lines of airborne data with Conductivity Depth Imaging (CDI) procedures. The CDI identified a possible basement conductor warranting drilling or further ground geophysical follow-up. A number of lake sediment anomalies and elevated metal values in sandstone boulder analyses outline additional target areas. There has been no previous drill testing of these targets.
For more information on the Fond du Lac property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
| October 30, 2008 |
Santoy Provides Exploration Update on Denison JV Uranium Properties |
KarpinkaStatus: Exploration
Commodity: Uranium
Ownership: 50% Virginia Energy -- 50% Forum Uranium Joint Venture
Operator: Forum Uranium Corp.
Location: 30 km southwest of Key Lake mine
The property is transected by the existing Key Lake mine road and is close to Cameco's Key Lake processing facility. It is underlain by Mudjatik and Wollaston Domains and hosts several airborne electromagnetic conductors with crosscutting N70 structures prospective for shallow basement-hosted uranium deposits similar to Cameco's Millenium deposit. In addition, several radioactive boulder occurrences and outcrops are known from historic work. The JV has approved a small budget for ground surveys in 2009, aimed at defining targets for later drilling.
Karpinka
For more information on the Karpinka property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
Pattyson Lake (Hawkrock Lake)Status: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 60 km NW of Points North Landing, Saskatchewan
The Pattyson claims cover unconformity uranium targets of moderate depth (175-375 m) within the northern part of Athabasca Basin. Elevated values of uranium, nickel, cobalt and pathfinder elements in lake sediment and water samples appear to be associated with the Tabbenor Lake fault system and areas with anomalous conductivity responses from MEGATEM airborne surveys. Additional groundwork is required prior to selection of drill targets.
For more information on the Pattyson property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
Richards LakeStatus: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 15 km SSW of village of Fond du Lac, Saskatchewan
The Richards Lake property covers relatively deep unconformity uranium targets within the northern part of Athabasca Basin (400 -- 800 m). Structural trends have been identified from airborne magnetic and electromagnetic (MEGATEM) surveys. Conductivity Depth Imaging (CDI) processing of selected MEGATEM lines suggests structural trends indicative of post-Athabasca faulting. Soil Gas Hydrocarbon and lake sediment samples suggest some uranium enrichment along these trends. In 2008, two ground Audiomagnetotelluric (AMT) lines were completed, indicating a possible basement unconformity coincidental with previously identified MEGATEM and magnetic features.
Richards Block
For more information on the Richards Lake property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
Riou RiverStatus: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 40 km SW of Village of Stoney Rapids, Saskatchewan
Selected portions of the Riou River property, formerly held by the Denison JV, were dropped and re-staked in 2008 for 100% ownership by the Virginia Energy. The property covers relatively deep unconformity uranium targets within the northern part of Athabasca Basin. Airborne magnetic and aeromagnetic surveys have identified prospective structures on the property. Additional Conductivity Depth Imaging (CDI) geophysical processing and detailed lake sediment and water sampling were completed in 2008 on a portion of the project to confirm historical results. Lake sediment results were also very encouraging in identifying areas with elevated uranium and pathfinder metals. A single Audiomagnetotelluric (AMT) line was surveyed in fall 2008, revealing a possible large-scale offset, which may be coincidental with an airborne EM time constant anomaly.
Riou Block
For more information on the Riou River property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
| October 30, 2008 |
Santoy Provides Exploration Update on Denison JV Uranium Properties |
Webb RiverStatus: Exploration
Commodity: Uranium
Ownership: 100% Virginia Energy
Operator: Virginia Energy
Location: 30 km NE of Key Lake mine
This 100%-owned property includes five claims staked in 2009 in the Webb River, McGregor Lake, Toews Lake and Ryan Lake areas, approximately 30 km east of the Key Lake mine. The properties straddle the trace of the Athabasca basin unconformity and have structural and geochemical indications favourable for shallow uranium deposits. There are several known bedrock and boulder prospects and radioactive muskeg occurrences on the claims. A thorough compilation of historic work will be completed prior to completing fieldwork.
For more information on the Webb River property, see the following news releases:
| May 12, 2009 |
Santoy Reviews Property Status and 2009 Exploration Plans for Saskatchewan and Labrador |
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