NEWNHAM LAKE PROJECT
Newnham Lake consists of 14 claims totalling 16,940 hectares and straddles the north-eastern margin of the Athabasca Basin. Newnham Lake is underlain by a series of graphitic metapelites where several fault zones have been identified along strike and cross-cutting the basement rocks. Multiple intercepts with grades between 1,000ppm U3O8 and 2,000ppm U3O8 have been intersected in relatively shallow historical drilling within a 25km folded and faulted conductive trend. Details of the historical drilling is currently being compiled by Okapi.
Importantly, the depth to the Athabasca Basin unconformity at Newnham Lake is approximately 100 metres deep mitigating the need to drill deep holes in order to discover either sandstone or basement hosted uranium mineralisation.
Limited historical work has been undertaken to explore for deeper basement style mineralization despite extensive alteration, anomalous geochemistry and favourable rock types, with most historical drill holes continuing less than 25 metres beyond the Athabasca unconformity. Historical exploration in the Newnham Lake Project area was largely undertaken prior to the understanding of the importance of basement-hosted uranium deposits.
Figure 1 – Newnham Lake Project
Previous drilling at Newnham Lake has focused on the areas under the Athabasca Basin sediments where mineralisation has been identified but the same mineralised structures continue past the edge of the basin. These areas have not been tested and make up approximately 50% of the property at Newnham Lake and there is potential for basement hosted deposits akin to Triple R and Arrow in southern part of the basin.
Several high-impact, walk-up drill targets have been identified at the Newnham Lake Project. A single hole (NL18-001) was drilled on the Property in 2018 and it returned 7.2m @ 310ppm including 0.5m @ 1,274ppm U3O8. This drill hole was following up on historic mineralisation and requires additional follow up to potentially locate the source of the uranium mineralisation at depth or along strike.
Follow-up drilling is also required in areas where faulting of the Athabasca sandstone and elevated radiometric peaks occur along the main zone of interest, notably in the Eileen Lake area. In addition, further basement testing to characterize the fault and shear zones is recommended to determine the prospectively of these faults as mineralisation conduits. Deeper basement targets require drilling along the conductive corridor to characterise the structure and geology in the Newnham Lake area at depth below the unconformity and to identify further mineralisation.