Virgin River Property
The Tarku property represents an excellent uranium discovery opportunity in Saskatchewan's prolific Athabasca Basin region. The Tarku property:
- Covers over 45,000 hectares along over 40 km of the Virgin River Shear Zone (part of the crustal-scale Snowbird Tectonic Zone)
- Is located along same structure (Snowbird TZ) within 25 and 45 km of Cameco's Dufferin Lake & Centennial deposits
- Is hosted in a geological setting analogous to that of the Patterson Lake South discovery 100 km northwest
- Has seen very little uranium exploration, with little recognition of its potential for basement-hosted unconformity-related uranium mineralization.
- Yielded anomalous concentrations of pathfinder elements including anomalous uranium in rock and soil samples from small 2013 exploration program.
The Athabasca Basin arguably hosts the world's largest and richest known uranium deposits including McArthur River and Cigar Lake. McArthur River has a total proven and probably reserve of 385.5 million pounds U3O8 (1,062,200 tonnes @ 16.46% U3O8) and production of 230.5 million pounds U3O8 since 2000 (Bronhorst et al, 2012), while Cigar Lake has proven and probable reserves of 537,100 tonnes grading 18.3% U3O8 for a total of 216.7 million pounds U3O8 (Bishop et al, 2012). New discoveries, such as the Fission's Patterson Lake South, have demonstrated there is considerable potential to make new uranium discoveries outboard of the Athabasca Basin if the prospective structural and lithological setting is present.