Jan 9 2014
Athabasca Nuclear Corp. ("Athabasca Nuclear") is pleased to provide an update on the ongoing exploration activity at the Western Athabasca Syndicate's flagship Preston Lake Property (the "Property"), where Athabasca Nuclear is the Operator. The program consists of ground gravity and electromagnetic (EM) surveys, as well as a RadonEx survey (ground and water) for final targeting in advance of Q1-Q2 drilling.
Preston Lake Property - Gravity Survey Coverage:
http://www.athabascanuclear.com/sites/default/files/ASC_Gravity_Survey_Targets.pdf
MWH Geo-Surveys Ltd. has been contracted to complete the gravity survey over seven priority areas identified by the Syndicate's Technical Committee, based on the extensive 2013 summer/fall field work. The survey commenced in late November with approximately 50% of the planned stations having been completed to-date, including infill over several high-priority anomalies that have just been identified. Initial interpretation of the gravity data has successfully delineated gravity low anomalies associated with previously identified high-potential exploration corridors defined by structure, magnetic lows, conductors, favorable geology and geochemistry (elevated radon-in-water and lake sediment sample values).
The gravity survey is anticipated to be completed by the third week of January with the RadonEx survey starting around January 17th. Drilling is expected to commence in March 2014.
Gravity is a powerful and economic tool of exploration for uranium in the Athabasca Basin. Hydrothermal fluids associated with high grade uranium deposits will cause extensive alteration of the host rock, resulting in displacement and removal of minerals/elements, creating porosity and subsequent density contrast. This density contrast will be expressed as a gravity low anomaly and is a prime drill target when qualified by other coincident indicators of uranium mineralization such as geochemistry and radon. The Syndicate will further refine these gravity low targets by RadonEx and EM surveys in advance of drilling.
About the Preston Lake Property:
The 246,643 hectare Preston Lake Property is the largest land package proximal to the Patterson Lake South (PLS) high-grade uranium discovery, owned by Fission Uranium Corp. 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 with the summer program yielding numerous high-quality targets with similar geological features and exploratory indicators also present at the nearby PLS discovery. Management cautions, mineralization present on proximal properties is not necessarily indicative of mineralization on the Syndicate's Property.
Preston Lake Property Map:
http://www.athabascanuclear.com/sites/default/files/WASP_tenure_sept2013.pdf
Qualified Person:
Athabasca Nuclear President and CEO, Charles C. (Chuck) Downie, P.Geo., is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information in this release.
Source: http://www.athabascanuclear.com/