Mann Lake Uranium Project

Project Summary

Project Status

2010 Drill Program

Location Map

Enexco's 2010 ongoing drill program, operated by Cameco consists of 4 to 5 diamond drill holes totaling approximately 3,000 to 3,800m. Drill targets selected are from interpreted results of previous drill and ground exploration programs along the project's C conductor trend including 2009 drilling, gravity coverage and geochemical surveys. The C conductor trend extends north-south for approximately 5,000 m through the central portion of the Mann Lake property and is marked by both geochemical and structural anomalies. The proposed drill program will continue to focus on the C conductor trend by following these anomalies. Two holes will target a recently improved geochemical anomaly and large unconformity offset west of the previously drilled high-grade intersections discovered at Mann Lake in 2006 (7.12% U308 over 0.25 m and 5.53% U3O8 over 0.4 m) and located in the basement within 12 m of the unconformity (see Enexco June 20, 2006 news).

Two other holes will target the northern portion of the C conductor trend where 2009 drilling intersected 163.8 m of 1.74 ppm uranium and 1,006 ppm boron in the lower portion of the sandstone. The combined presence of boron and anomalous uranium are considered to be significant exploration guides for high-grade basement-hosted uranium in the eastern part of the Athabasca Basin.

An additional conductor, the approximately 3,500 m long D conductor is located 3,000 m east of the C conductor at Mann Lake. At least one hole may also be drilled to target the D conductor, which has not been drilled in any of the prior Mann Lake drill programs.

Property Information

  • 20 km from Cameco's McArthur River Mine (332 million lbs eU308)
  • 65 km from the historic Key Lake Mine (166 million lbs eU308)
  • 15 km from Cameco's Millennium deposit (46.8 million lbs eU308)

Ownership

Joint Venture

  • 30%-International Enexco
  • 52.5%-Cameco Corp
  • 17.5%-Areva