Athabasca uranium update: Fission (V.FCU), Skyharbour (V.SYH), Makena (V.MKN), Lakeland (V.LV) makin

Stockhouse Editorial
0 Comments| January 16, 2014


Exploration activity abounds at the Athabasca basin in Saskatchewan, with multiple small-cap junior miners releasing news in the past few days that points to growing interest in what is said to be the highest grade uranium play in the world today.
 
On Monday, Fission Uranium (TSX:V.FCU, Stock Forum), hot off the heels of grabbing the PDAC Canadian prospector of the year award, announced it has undertaken a half-million-dollar Radon in lake survey at its Patterson Lake South (PLS) property.
 
The company says: "Our lake bottom, winter radon survey and analysis techniques were critical elements in targeting the first strike holes at six of the seven zones and numerous successful step-outs. PLS is a hugely prospective property with a multitude of conductors and just as our understanding of the geology has evolved in the past two exploration programs, so too has our use of Radon survey technology. With approximately 20% of the upcoming drilling focusing on exploring new areas of interest, we expect this radon survey to play an important role in targeting and prioritizing new holes."
 
Fission was in action again Wednesday, when it announced high grades at its R390E and R780E zones.
 
"Both R390E and R780E, have seen strong, sustained progress as high grade zones and remain open in all directions. Growth remains strong, with all six holes returning substantial mineralization, including some, like holes 104 and 082, returning sizeable high-grade intervals,"  said President and COO Ross McElroy.
 
Lakeland Resources (TSX:V.LK, Stock Forum) pointed to an article Tuesday in which Rockstone Research's Mining Analyst Stephan Bogner pointed to its “Highest Radon Values Ever Detected in the Athabasca Basin.”
 
Little Makena Resources (TSX:V.MKN, Stock Forum), the smallest market cap in the ‘Basca, made some news on Wednesday when it announced the Versatile Time Domain ElectroMagnetic (VTEM) max program has commenced over its three uranium parcels near Fission’s property, marking the commencement of its exploration program on its recently acquired land.
 
Negar Adam, president of the Company said, "This is the first step in regards to developing the exciting Patterson Uranium claim blocks. This process has been instrumental in the early stages of other uranium discoveries and we look forward to using the results to further implement our aggressive work program. Makena is currently the smallest market capitalized company bordering the significant uranium discovery made by Fission at the PLS property, thus potentially providing Makena tremendous leverage to any additional positive news within this area."
 
Skyharbour Resources (TSX:V.SYTH, Stock Forum) made news Thursday when it acquired a 60% interest in the Mann Lake uranium project in the Athabasca in return for $15k cash and one million shares from Triex Minerals, a subsidiary of Canterra Minerals (TSX:V.CTM, Stock Forum), to complement its existing Athabasca property.
 
Jordan Trimble, President and CEO of Skyharbour, stated: "This acquisition enhances Skyharbour's portfolio of Athabasca uranium projects and complements the Company's flagship Western Athabasca Syndicate Project. The Mann Lake Uranium Project boasts highly prospective geology and geochemistry, and a robust discovery potential as identified by the historic work consisting of over $3 million in exploration expenditures, with additional work recommended on a number of untested targets. Of particular note is the property's strategic location southwest of the McArthur River Mine and adjacent to Cameco's (TSX:V.CCO, Stock Forum) Mann Lake Joint Venture where an aggressive 13,000 metre, 18-hole drill program is about to commence. Skyharbour's management believes this is an accretive deal for the Company's shareholders as we bolster our exposure to uranium on the east side of the Basin and add another catalyst to supplement our ongoing Syndicate work program in the Patterson Lake region on the west side of the Basin."
 
FULL DISCLOSURE: Fission, Skyharbour, Makena and Lakeland are, or have recently been, Stockhouse Publishing clients.


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