Background Nuinsco’s Diabase Peninsula uranium project is located 150 kilometres northwest of La Ronge, Saskatchewan on the Athabasca Basin, the region that hosts the world’s largest and richest uranium mines.
Exploration work on the 21,900 hectare Diabase project, situated approximately five kilometres north of the southern boundary of the Athabasca Basin, includes 28 widely spaced drill holes totaling 11,205 metres. Nuinsco is the operator, currently owns an approximate 82% interest in the property and is partnered with Trend Mining Company.
Nuinsco has been named as a leader in the race to find the next uranium “Super Deposit” in the Athabasca Basin at Diabase based on the strength of exploration results to date. Development
In 2008 a $2.5 million winter work program, which included 6,534 metres of drilling, was conducted over 23 kilometres of strike along the prospective Cable Bay Shear Zone that underlies the entire property for 35km from north to south. Strongly anomalous uranium mineralization, peaking at 0.07% uranium (0.083% U3O8) in hole ND-08-01 at the unconformity, was returned. A gravity survey identified several domains of lower-density rock that are consistent with the presence of hydrothermally altered, desilicified sandstone often found in proximity to uranium mineralization in the Athabasca Basin. In addition to results noted above, drilling in 2008 identified the following: • Strongly anomalous arsenic, nickel, cobalt and base metals, commonly occurring in association with uranium mineralization in the Athabasca Basin; • Abundant clay alteration (sericite and kaolin) associated with elevated uranium values and indicative of the passage of potentially mineralizing fluids; and, • A distinct boron anomaly within the overlying sandstone, a feature characteristic of many uranium ore bodies in the Athabasca Basin.
2010/2011 Activity
Drilling took place at Diabase between November and December 2010.
The program comprised a series of drill holes of 400m – 500m in depth near the core of the property where numerous factors point to the possibility of a nearby uranium deposit. An expansion of the 2010 diamond drilling program is scheduled for February/ March 2011.