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McKenzie Lake Property

One of two of the Compay's properties that have down hole uranium.

The 9,524ha Property is situated along the southeastern edge of the Athabasca Basin, approximately 43 kilometers east-southeast of the McArthur River mine, 78 kilometers southwest of the past producing Rabbit Lake uranium mine, and 51 kilometers south-southeast of the producing Cigar Lake uranium mine. In 2007, a Tempest Mag/EM (below) survey delineated a 10km north south conductive anomaly coincident with a magnetic low as well as several offsets that have been interpreted as cross faults.

North-trending faults cut the central Project area around Ox Lake, and northwest trending small scale folds and shears occur in the northwest portion of the Project.

From 1968 through 1970, Gulf carried out a variety of work programs on the McKenzie Lake Project and surrounding area. The Ox Lake showing was first investigated to locate anomalies outlined by

an airborne radiometric survey. Work identified radioactive conglomerate beds up to 50cm thick at the base of the Athabasca and anomalously radioactive pegmatite dikes. The Ox Lake showing consists of an occurrence of calc-silicate allanite in a series of small shear zones cross-cutting a second generation pegmatite dike. Allanite mineralization occurs in local concentrations and secondary enrichments (weathering) along joints and fractures within the pegmatite, and has been traced over a strike of 800 ft (243.8 m). In 1970, ten cored holes, which were completed on the allanite zone, intersected northeast-trending Wollaston Group biotite gneiss cut by segregation pegmatites and later dike-like pegmatites. The best drill intersection assay result was from a 1.5 meter interval from 42.7 to 44.2 meters that returned 0.31% U3O8 and 0.22% ThO2.

In 1935, pitchblende was discovered on the north shore of Lake Athabasca. Late in 1968, Gulf Oil made its initial uranium discovery at Rabbit Lake, where a pitchblende ore body was identified at the unconformity between the sandstones, conglomerates, and minor mudstones of the Athabasca Basin and the underlying crystalline metamorphic basement rocks.

The Property deposit model is uranium mineralization, generally pitchblende and coffinite, occurring as fracture and breccia fillings, and disseminations in elongated or tabular zones hosted by sedimentary/metasedimentary rocks located below, above, or across a major continental unconformity.

Lithology of the McKenzie Lake Property consists of supracrustal meta-sediments intruded by mafic-ultramafic and granitic rocks, all of which have a general northwesterly trend.  Ultramafic rocks intrude in the southern portion of the Property, while smaller scale granitic intrusions intrude in the northern portion.  Intrusions, both granitic and mafic-ultramafic, occur primarily within the more granular supracrustal felsic biotite gneisses and schists.  The approximate margin between basement rocks of the Wollaston Domain and overlying Athabasca Group sandstones is located 500 meters northwest of the Property.

North-trending faults cut the central Property area around Ox Lake, and northwest-trending small scale folds and shears occur in the northwest portion of the Property. From 1968 through 1970, Gulf carried out a variety of work programs on the McKenzie Lake Property and surrounding area.  The Ox Lake showing was first investigated to locate anomalies outlined by an airborne radiometric survey.  Work identified radioactive conglomerate beds up to 50 cm thick at the base of the Athabasca and anomalously radioactive pegmatite dikes. The Ox Lake showing consists of an occurrence of calc-silicate allanite in a series of small shear zones cross-cutting a second generation pegmatite dike. Allanite mineralization occurs in local concentrations and secondary enrichments (weathering) along joints and fractures within the pegmatite, and has been traced over a strike of 800 ft (243.8 m).

Location

The McKenzie Lake Property is located approximately 43 kilometers east-southeast of the McArthur River mine, 78 kilometers southwest of the past producing Rabbit Lake uranium mine, and 51 kilometers south-southeast of the producing Cigar Lake uranium mine.

The West Bear Deposit, which forms part of UEX's Hidden Bay Projecy, is located 27 kilometers NE of the McKenzie Lake Project. The Harrigan Deposit is controlled by Cameco.

The Company's principle target is the McKenzie Lake Uranium Property, located in the Athabasca Basin, SK. In 2007, Fugro Airborne Surveys conducted a TEMPESTĀ® electromagnetic and magnetic survey of the McKenzie Lake Property.

1. Results from the magnetic survey show a broad magnetic high in the southern portion of the Property and a narrower magnetic high in the north, as well as several interpreted fault and crossfaults.

2. Results from the EM survey show a strong north-trending conductive zone in the central portion of the Property, associated with weaker east- to east-northeast-trending conductive zones intersecting the stronger zone, which appears to be coincident with the magnetic lows seen in the magnetic survey.

Geophysics

 

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