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TMR - Athabasca Uranium
For several years, a powerful, fundamental argument has been building for uranium resource development. Two factors in particular lie behind the uranium argument. In the first case, many nations are either embarking on new nuclear power projects or extending the life of present ones. Among the important nations which have publicized such plans in recent years are China, India, Germany, France and the United States. One of the driving fordces behind such decisions is the fact that nuclear power production is virtually pollution free.
In the second case, an important source of power fuel-grade uranium has been the reduction of weapons-grade uranium obtained from the dismantling of previous nuclear weapons, with much of this source coming from the former Soviet Union nations. However, the rate of recovery from this source is in decline as the supply of nuclear weapons diminishes.
Both of these factors play strongly into a market which is already in a tight supply situtation from present demands alone. As a result, although the price of unraium has declined somewhat during the recent past, it remains far above levels of previous years.
One newly-formed company which has been initiated to take advantage of this situation is Vancouver-based Athabasca Uranium Inc. The company's original property is the Don McCarthy Project and just
recently they have closed on an option for the Webb River Project. Both projects are located in the world-famous Athabasca Basin, home of some of the highest grade uranium deposits known to date.
Don McCarthy covers 7,584 hectares (18,580 acres) and lies 40 Km east of Cameco's MacArthur River Mine and 29 Km SE of the Cigar Lake Mine along the eastern edge of the Athabasca Basin.. A 2007 airborne Tempest MAG/EM survey was flown over the property to test for the presence and extent of graphitic zones that can host uranium mineralization.
During a recent interview with Athabasca Uranium President Gil Schneider we learned the company plans to utilize the services of Kinetex Resources and their high resolution, 3-D seismic technology. This technology has met with previous success, particularly in the field of uranium exploration. It is also important that Kinetex has formed a working relationship with the University of Saskatchewan's Geoscienses department for the interpretation of data.
Athabasca Uranium is working with Kinetex Resources to provide exploration services with the goal of providing a three dimentional strudctural model of the Don McCarthy project and a Phase One winter drilling and core analysis program is planned for early 2011.
LMM
A full, in-depth study will be prapared following a property visit , scheduled to take place at the earliest opportunity.
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