SYH-V diamond drill program is slated to commence in the second week of March and will test several highly prospective targets identified by the extensive 2013-2014 fieldwork.
Feb 27, 2014 - NR
The Western Athabasca syndicate (Noka Resources Inc., Skyharbour Resources Ltd., Athabasca Nuclear Corp. and Lucky Strike Resources Ltd.) has received drill permits for its flagship Preston Lake uranium property. The diamond drill program is slated to commence in the second week of March and will test several highly prospective targets identified by the extensive 2013-2014 fieldwork. The 246,643-hectare Preston Lake property is the largest land package proximal to Fission Uranium Corp.'s Patterson Lake South high-grade uranium discovery, as well as the recent discovery (Arrow prospect) made by NexGen Energy on the Rook 1 project (see NexGen's news release dated Feb. 19, 2014). The syndicate holds title to an extensive and geologically prospective property package in the southwest Athabasca basin region including properties strategically located in all directions around the PLS and NexGen discoveries.
Noka and its syndicate partners are currently carrying out a ground EM survey to further refine conductor trends and drill pad locations. Additional details of the upcoming drill program will be provided when drill hole locations are finalized. To date, the 2013-2014 exploration expenditures on the property total approximately $2.1-million and have delineated numerous geological, geophysical and geochemical targets associated with eight prospective exploration corridors. The syndicate continues to employ a systematic, proven exploration methodology that has led to numerous uranium discoveries in the region and throughout the Athabasca basin. This has been very effective in identifying numerous high-quality targets at Preston with similar geological features and exploratory indicators as those at the nearby PLS and NexGen discoveries, as well as other deposits in the Athabasca basin.
Qualified person
Athabasca Nuclear director Charles C. (Chuck) Downie, PGeo, is the qualified person as defined by National Instrument 43-101, and has approved the technical information in this release. |
