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Gold/Mining/Energy : Pioneer Metals (T.PSM)
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To: violet peterson who wrote (229)9/27/1999 12:48:00 AM
From: average joe  Read Replies (1) of 502
 
Excerpt from an Offering Memorandum

-Exploration highlights at Riou Lake, Saskatchewan Canada

-..... and a junior partner have completed work programs in an area of northern Saskatchewan called the EAMZ or the Eastern Athabasca Mylonite Zone within an area called the Tantato Domain. This area is immediately south of Riou Lake. SMDC found a boulder in the area grading 11.3% U.

7.17.97 - work to date
-252 km of line cutting
-183 km of UTEM-3 surveying covering 14 blocks.
-major cross cutting fault structures indicated
-large loop EM survey is planned

12.2.97 - boulder sampling
-anomalous illitic horizon found 5 km long and 1 km wide offsetting east-west escarpment.

1.14.98 - UTEM survey started on faulted area near to east-west escarpment.

3.24.98 - completion and interpretation of UTEM survey.
-150 line km of UTEM to follow up 1997 UTEM survey.
-several low magnetic amplitude anomalies in basement inferred to
be graphitic metapelite conductors.
-one of the conductors is found coincident with gossaninferous
spring. (see page 27)
-conductor similar to those at Key Lake, MacArther River and Cigar Lake.

6.15.98 - focus shifts to escarpment near illite anomaly on advice
of consultant.
-stringers of up to 1% pitchblende encountered 3 miles SE of escarpment.
-strong faulting drill proven exhibiting importance of east west faulting to mineralization.
-uranium expert Daniel Faure suggests WNW - ESE faults of highest priority.
-Faure suggests that escarpment area could rival the Wollaston belt for uranium mineralization in Saskatchewan.

9.24.98 - summer 1998 results -
-escarpment area exhibits, structure, hydrothermal activity and graphitic conductors.
-geochemical anomaly from escarpment springs.
-radioactive boulders from NE of escarpment.
-400 times background levels of uranium in sandstone north of escarpment.
-boulder reported near escarpment at 13.28% U308

12.1.98 - geophysical and drill program announced -
-drill program announced for area near escarpment 4000 m total drilling.
-EM37 geophysical survey commenced in mid-January continues.

2.2.99
-drilling commences near most promising area of escarpment
-90 km of large loop time-domain electromagnetic (TDEM) surveys.

6.2.99 - winter drilling results
-basement lithology in magnetic low offsetting escarpment is pelitic.
-graphitic conductors are present within the pelitic basin.
-escarpment area has undergone considerable post Athabascan tectonism.
-hydrothermal alteration has affected the mineralization.
-conditions favorable for preservation of uranium (see page 32)
-breccia zone associated with escarpment indicates reverse fault structure.
-highly tectonized zone associated with escarpment.
-strong uranium anomaly indicated geochemical analysis of drill core.
-confirmation that escarpment area did not suffer oxidizing conditions

9.16.99 - summer exploration results
-radioactive gossaniferous springs east side of escarpment from open series of fractures.
-geochem study of boulders indicates hydrothermal alteration.
-fault transects gossaniferous springs.
-uranium mineralization in basement rocks.
-January Y2K drill program announced.

over and out - aj
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