The company said that the new intersections confirm significant high grade mineralization in areas classified in the Initial Resource Model as weak or non mineralized. These new intersections emphasize the strength of the mineralizing system at Roughrider and confirm the potential to increase the resource model for the deposit. These results confirm the preliminary scintillometer data released as drilling progressed in Area 2.
High grade mineralization in Hole 209 is characterized by higher than normal core loss. This is the third and final set of assays from the 27,000mt, 77 hole 2010 winter drill program on the Roughrider uranium deposit at its Midwest Northeast property in the Athabasca Basin in northern Saskatchewan.
A total of 13 drill holes were completed in Area 2 for approximately 4,368mt. The holes span grid lines 5 E to 25 E in the west-central part of the deposit. There were only six drill holes completed for 1,566mt in Area 4, the fewest holes in any of the four areas. There are no material intersections to report from Area 4, with more drilling yet required to complete its full evaluation.
Area 2 includes parts of both the high grade core shell of mineralization (>5% uranium oxide) and the lower grade outer shell of mineralization (<5% uranium oxide), as defined by the Initial NI43-101 compliant resource model (Initial Resource Model) completed by Scott Wilson Roscoe Postle Associates (SWRPA) in December, 2009.
Drill hole 10-201 was designed to test for down-dip continuation of high grade mineralization intersected in 09-088, this drill hole did intersect thin intervals of weak mineralization, the best of which returned 1mt of 0.08 % U3O8.
Drill hole 10-208 was designed to test for possible extensions of mineralization 20mt-30mt laterally from the extents of the modeled mineralization on line 100E. This drill hole did not intersect any anomalous activity. It did intersect variably altered package of rocks comprising the lower sandstone and the upper basement.
Drill holes 10-199 and 10-218 were designed to test for lateral extensions of the mineralization on Line 110E. Both drill holes only intersected thin intervals that returned values of 1.5mt of 0.08 % U3O8and 0.6mt of 0.2 % U3O8, respectively.
Drill hole 10-202 were designed to test the mineralization identified in 09-096 and 09-104. This drill hole successfully intersected 1mt of 1.64 % U3O8. In addition to this zone of radioactivity, it additionally intersected another shallower zone of radioactivity at and just below the unconformity that returned 4.5mt of 0.19 % U3O8.
