EAGLE LAKE

Development Status

Raw Prospect.

Summary

The property comprises S-108185 and S-108186 claim blocks and cover
6,294 ha and lies 30 km south of the edge of the Athabasca formation.

URANIUM prospect.

Geology

Exploration in the area from 1969 to 1971 identified a boulder train
1.5 km in length. The boulders consisted of white pegmatite containing
uranium stain as well as uranium/copper mineralization in sheared
graphitic material. Four boulders reported assays of 0.19%, 0.32%,
0.56% and 0.50% U3O8. These boulders are adjacent to a prominent
north-south-trending fault structure. High radon gas values from
both water and soil samples were found near the uraniferous boulder
train.
The area lies within the Wollaston domain and consists of Aphebian
metasedimentary gneisses and schists, including pelitic schists and
gneisses with graphitic horizons.

The Karin Lake area was targeted for staking due to the presence
of numerous historical base-metal occurrences consistently located
near the margin of the Karin Lake granite dome, within structurally
disturbed rocks of the Wollaston Group. Uranium mineralization occurs
both as a low-grade material in granitic pegmatites and associated
granites, as well as higher-grade fracture controlled mineralization
in pegmatites and metasediments. Historical assays from the area
returned values up to 8.0% U3O8.

The Foster Lake area was targeted for acquisition to cover known
uranium and molybdenum showings located 20 km SSW of the Karin Lake
property. The area is underlain by the same series of host rocks
which are interlayered with intrusive material. The best showing
at SMDI 0983 comprises several trenches in a pegmatite stock containing
disseminated and fracture-hosted uranium and molybdenum mineralization,
with historical assays reporting up to 0.226% U3O8, and 0.67% MoS2.