Lakeland Resources (LK-V) is Andrew~ Number 1 pick right now, for the following reasons:
1) It is a micro-cap with only a $2.5 million market cap or less,
2) It’s entire focus in now Uranium within the Athabasca Basin, and as such it is assembling a very strong management group and technical team with a good track record of discovery,
3) The properties they acquired are in the same basement domain as Patterson Lake South, but at the northern end (opposite end) of the basin. When the staking rush was occurring around PLS, they decided to acquire properties in the same/similar environment based on the criteria we use to select ground in the basin:
a. Shallow depth to unconformity, from 0 less than 400-m,
b. Historic work with favorable alteration and geochemistry,
c. Historic work which uranium, albeit low grade, but indicative of the presence of a mineralized system.
4) To this aim, Lakeland has identified 3 shallow targets with minimal exploration since the late 1970’s or early 1980’s that meet the aforementioned criteria,
a. Gibbons Creek (historic holes including a basement intercept with 79-m of strong and continuous alteration, with no follow up!),
b. South Pine (historic holes with significant Uranium, including 0.15% over 0.13 m and no follow up since the early 80’s),
c. Perch Lake, only historic exploration is a 4 km long conductor with coincident uranium radiometric anomaly! Never any ground follow-up. |
