Don McCarthy property 43-101 summary
The Property is situated along the southeastern edge of the Athabasca Basin,
approximately 35 kilometers east of the McArthur River mine, 50 kilometers
southwest of the past-producing Rabbit Lake uranium mine, and 30 kilometers south
of the Cigar Lake uranium mine.
The Property consists of a contiguous block of two unsurveyed mineral dispositions,
S-110884 (Don McCarthy) and S-110885 (Geikie River), totaling 7,584 ha.
Access to the Don McCarthy Property area is by helicopter from the settlement of Points
North, Saskatchewan, which is located approximately 45 kilometers north-northeast of
the Property and 600 kilometers north of Saskatoon. Float and ski-equipped aircraft can
land on most of the larger area lakes.
The Don McCarthy Property is situated approximately five kilometers northwest of the
contact between Wollaston Group metasediments and the overlying Athabasca
Group sandstones.
Two broad magnetic highs, located in the northeastern and south central portions of
the block, could indicate the base of the Athabasca formation. The two highs are
separated by a magnetic low. The dominant magnetic trend is east-northeast.
Two zones of strong EM response occur on the property. One zone is located in the
northwestern property area and one in the eastern area. Both correlate with
magnetic lows. The eastern conductive zone flanks the broad magnetic high to the
east, and coincides with two intersecting bedrock faults. EM profiles over this zone
suggest that the EM response is deep-sourced.
The Don McCarthy Property is of sufficient merit to justify the following two-phase
exploration program:
Phase 1
Phase 1 work should consist of establishing a four-person fly-camp consisting of a
project geologist, a prospector, and two assistants. The cost of establishing and
maintaining the camp is estimated to be $500 per man day. Due to the lack of
connecting waterways allowing boat access, occasional helicopter support would be
necessary. Camp mobe/demobe and occasional supply would be by helicopter or
fixed wing if the larger lakes are suitable. The budget is based on a helicopter being
used. Phase 1 work would include prospecting, geological mapping, and
geochemical rock sampling. The estimated cost of Phase 1 work is $305,000.
Phase 2:
Phase 2 is contingent upon Phase 1 identifying areas suitable for follow-up. Phase 2
work should consist of up to five drill holes averaging 200 meters in depth, and
totaling 1,000 meters (3,050 feet). Phase 2 drilling is estimated to cost approximately
$1,200,000.
The proposed budgets assume that:
• Phase 2 drilling will be helicopter supported. A base cost of $3,200/day plus 4
hours @ $1,500/hour for $9,200/day; and
• Total per day drill camp costs are estimated $3,500 (7 people x $500 day).
