Chunger you are quite informed on the jnr. uraniums.Do you follow NCA.v which looks to be ready for a breakout? Under 30 million shares out and drilling..
Northern Canadian begins Collins Bay drilling
2007-03-09 12:14 ET - News Release
Mr. Praveen Varshney reports
NORTHERN CANADIAN DRILLS URANIUM TARGETS IN THE ATHABASCA BASIN, CBE PROJECT
Northern Canadian Minerals Inc. has begun drilling at the Collins Bay extension project, in the Athabasca Basin region of Saskatchewan. The Collins Bay extension uranium project, is located immediately easts and north of Cameco's Eagle Point uranium mine, and the Rabbit Lake uranium mine and mill. The Collins Bay extension project is exploring for uranium, in areas that are immediately east of the sedimentary cover rocks within the Athabasca basin. The company is exploring in a region where uranium mineralization occurs in the basement rocks, in areas that have had the overlying Athabasca sandstone removed. These areas have the potential to host uranium mineralization that is near to the surface, similar to Eagle Point mine. The benefits of these targets types are:
the deposits that have been found in this geological setting contain over 200 million pounds of uranium (resources and production), including Rabbit Lake (32 million pounds U3O8), Eagle Point (110 million pounds U3O8) and Cluff Lake (36 million pounds U3O8) (the deposits are hosted in competent basement rocks, and contain simple metallurgy (uranitite, and no significant cobalt, nickel or arsenic components)); and
exploration is not complicated by the overlying sedimentary sequence of the Athabasca basin, making data collection and interpretation more accurate.
The drill program will be completed in the Central block of the Collins Bay extension project, along strike from Cameco's Eagle Point mine, which is located within the Collins Bay fault. Northern Canadian completed additional processing of historic airborne geophysical data, to identify the possible northeast extension of this important fault zone. The company is planning a minimum of eight core holes, to explore uranium targets that are located in areas are similar to known uranium deposits in the region. Additional targets will be tested during a phase II drilling program, planned for the third quarter 2007. Drilling will be completed by Geotech Drilling Services of Prince George, B.C.
The Collins Bay extension project contains over 37,000 hectares of contiguous mining claims that are located within six kilometres northeast along trend from the Eagle Point uranium mine, and within two kilometres east of the historic Rabbit Lake mine. The claim block covers over 25 kilometres of the strike extension of the Collins Bay structure. The Eagle Point mine has reserves of approximately 12.5 million pounds U3O8 and the Rabbit Lake mill is the second-largest uranium mill in the world, with capacity of 12 million pounds of uranium per year.
We seek Safe Harbor.
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