A TECHNICAL REVIEW OF THE ARICHENG NORTH AND ARICHENG SOUTH URANIUM DEPOSITS, IN WESTERN GUYANA FOR U3O8 CORP. AND PROMETHEUS RESOURCES (GUYANA) INC.
prepared by
R. Brian Alexander, P.Geo. Senior Associate Geologist
and
Kurt Breede, P.Eng. Director, Marketing and Technical Services
January 14, 2009 Toronto, Canada
TABLE OF CONTENTS Page
1. SUMMARY ...... 1
2. INTRODUCTION AND TERMS OF REFERENCE...... 7 2.1 INTRODUCTION ...... 7 2.2 TERMS OF REFERENCE ...... 10 2.3 SOURCES OF INFORMATION ...... 10 2.4 UNITS AND CURRENCY ...... 11 2.5 DISCLAIMER ...... 12
3. RELIANCE OF OTHER EXPERTS ...... 13
4. PROPERTY DESCRIPTION AND LOCATION...... 14 4.1 LOCATION ...... 14 4.2 PROPERTY DESCRIPTION ...... 14
5. ACCESS, CLIMATE, LOCAL RESOURCES AND INFRASTRUCTURE AND PHYSIOGRAPHY ...... 18 5.1 ACCESS ...... 18 5.2 CLIMATE...... 19 5.3 LOCAL RESOURCES AND INFRASTRUCTURE ...... 19
6. HISTORY ...... 21 6.1 GENERAL AND GOVERNMENT PROGRAMS ...... 21 6.2 REGIONAL PRIVATE COMPANY PROGRAMS ...... 21
7. GEOLOGICAL SETTING ...... 25 7.1 REGIONAL GEOLOGY...... 25 7.2 PROPERTY GEOLOGY...... 28
8. DEPOSIT TYPES ...... 30 8.1 UNCONFORMITY DEPOSITS...... 30
9. MINERALIZATION ...... 32
10. EXPLORATION RESULTS...... 33 10.1 REGIONAL EXPLORATION SURVEYS...... 33 10.2 PROPERTY-SCALE EXPLORATION ...... 41
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TABLE OF CONTENTS (continued) Page
11. EXPLORATION METHOD AND APPROACH ...... 52
12. SAMPLE PREPARATION, ANALYSIS AND SECURITY ...... 55 12.1 U3O8 CORP./PROMETHEUS RESOURCES (GUYANA) INC. DIAMOND DRILL PROGRAM, SAMPLE PREPARATION...... 55 12.2 WGM PREPARATION LAB REVIEW AND QAQC PROGRAM REVIEW ...... 55
13. DATA VERIFICATION ...... 59 13.1 WGM CHECK SAMPLING PROGRAM...... 59 13.2 WGM CHECK SURVEYING PROGRAM...... 59
14. ADJACENT PROPERTIES ...... 60
15. MINERAL PROCESSING AND METALLURGICAL TESTING...... 61
16. MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES ...... 62 16.1 GENERAL...... 62 16.2 GENERAL MINERAL RESOURCE ESTIMATION PROCEDURES ...... 63 16.3 DATABASE ...... 63 16.4 GEOLOGICAL MODELLING PROCEDURES ...... 65 16.5 DATABASE PREPARATION, STATISTICAL ANALYSIS AND ASSAY COMPOSITING ...... 66 16.6 MINERAL RESOURCE BLOCK MODELLING ...... 68 16.7 MINERAL RESOURCE CLASSIFICATION AND TABULATION...... 71
17. OTHER RELEVANT DATA AND INFORMATION ...... 73
18. INTERPRETATION AND CONCLUSIONS ...... 74
19. RECOMMENDATIONS...... 75
CERTIFICATES...... 77
REFERENCES...... 81
APPENDIX 1: ANALYTICAL CERTIFICATES...... 84
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TABLE OF CONTENTS (continued) Page
LIST OF TABLES
1. 2008 priority reconnaissance targets...... 37 2. Aricheng North and Aricheng South Mineral Resources ...... 63 3. Basic statistics of raw U3O8 Corp. assays...... 66 4. Aricheng project block model grid parameters...... 68 5. Aricheng North and Aricheng South Mineral Resources showing sensitivity to cut-off grade...... 70 6. Aricheng North and Aricheng South Mineral Resource estimate...... 74
LIST OF FIGURES
1. Location of Reconnaissance Permit Areas A and B in Guyana, South America...... 8 2. Reconnaissance Permit Area A and B with location of the Kurupung Batholith...... 9 3. Portion of geology map with Permit A and B superimposed. Permit A covers primarily granite-greenstone, and Permit B covers the Roraima Basin...... 26 4. Roraima Basin, with outliers. The Athabasca Basin is superimposed on this image at the same scale to illustrate size comparisons ...... 27 5. Regional map of Kurupung Batholith showing contoured cps and reconnaissance areas ...... 29 6. Airborne radiometric survey map showing coverage of the Kurupung Batholith and outlining 28 priority targets...... 35 7. DEM Map of Reconnaissance Permit A and B showing individual flight blocks flown during the airborne radiometric survey...... 36 8. Summary of regional structure and stratigraphy of Permits A and B, based on satellite radar imagery...... 38 9. Airborne magnetic data from Kurupung Batholith with interpreted structures...... 40 10. Simplified structural interpretation with mineralized structures shown...... 41 11. VLF frequency 1 Fraser Filter quadrature data – Aricheng South ...... 46 12. Detailed map VLF structural interpretation of Aricheng South with contoured cps and mineralized surface projection ...... 46 13. Detailed map (as above) with frequency 1 Fraser Filter quadrature data ...... 47 14. Aricheng South Drill hole Location Map ...... 49 15. Aricheng South Longitudinal Section with contoured grade x thickness data ...... 50 16. Aricheng North Drill hole Location Map ...... 52 17. Aricheng North Longitudinal Section with contoured grade x thickness data ...... 53 18. LOG Normal Probability Plot of Aricheng North Assays ...... 67 19. LOG Normal Probability Plot of Aricheng South Assays ...... 67 20. Mineral Resource Blocks on Section ARN15 showing % U3O8 grades...... 72 21. Mineral Resource Blocks on Section ARSW10 showing % U3O8 grades...... 72
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1. SUMMARY
On March 24, 2008, U3O8 Corp. ("U3O8 Corp.") retained Watts, Griffis and McOuat Limited ("WGM") to carry out an independent technical review of the Aricheng North and Aricheng South uranium deposits located in western Guyana in support of a National Instrument 43-101 Technical Report and Mineral Resource Estimate.
The project is wholly owned through Prometheus Resources (Guyana) Inc. ("Prometheus"), a wholly owned subsidiary of U3O8 Corp. The Prometheus exploration property encompasses two reconnaissance permits, Permit A and Permit B, totalling approximately 3.17 million acres (1.33 million hectares) in the Roraima Basin area in the western part of Guyana, South America. Permit A encompasses a granite-greenstone terrain proximal to the Pakaraima Plateau. Permit B covers the Pakaraima Plateau and portions of the Roraima Sedimentary Basin. The area is accessible by numerous navigable rivers, fixed wing aircraft or helicopter and gravel roads.
The reconnaissance permits were issued under Section 96 of the Mining Act (1989) of Guyana. This section empowers the Minister of Mines to grant a Permission to perform a geological and geophysical survey, in order to test new geologic concepts, over large areas, on a reconnaissance level. The reconnaissance permits of U3O8 Corp. are specifically for uranium and other radioactive elements.
The permit area is proximal to and covers portions of the Roraima Basin, a Proterozoic, intracratonic basin, which is approximately time equivalent to the Kombolgie Basin of Australia, and the Athabasca and Thelon basins of Canada. The Roraima Basin is composed of siliciclastic fluvial and alluvial redbed sediments, analogous to the above basins.
Unconformity-type uranium deposits characteristic of these Proterozoic basins, are associated with the unconformity between the essentially flat-lying, epicontinental, basin sediments and underlying basement rocks. The uranium deposits are related to basinal fluid flow and discharge, and occur at structurally favourable locations either within the basin sediments, at the interface between the basement and overlying sediments, or wholly within the underlying basement. Areas within 300 or 400 metres above and below the unconformity are considered prospective. Areas peripheral to the basin, stripped of their sedimentary cover, are also prospective for sub-unconformity type deposits. The geology and mineralogy of the known prospect areas is comparable to the Uranium City and Beaverlodge districts in Saskatchewan,
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which are peripheral to the Athabasca Basin. Here the sedimentary cover is eroded, and the uranium mineralization is localized within sub-unconformity fault and fracture zones.
Historically, the Permit A area was previously explored by Compagnie Générale des Matières Nucléaires ("Cogema") of France from 1979-1984. Their work resulted in the discovery of numerous uranium prospects and showings, within an area that exceeds 70 kilometres length. At least 253 holes exceeding 32,000 metres were completed at 14 of the prospect areas. Only cursory exploration for uranium is known to have been conducted at the Permit B area. Uranium prospects within Permit A are in close proximity to the Pakaraima Escarpment, which marks the edge of the Roraima Basin. The basin itself has only seen cursory exploration for uranium. Uranium showings near Aricheng within Permit A were originally located in 1980 through simple ground and airborne scintillometer surveys along the periphery of the basin.
U3O8 Corp. recognized two distinct types of uranium targets in Guyana: one target type is associated with albitites in the basement granite-greenstone units, and the other is related to the unconformity at the base of the Roraima Basin. These types of targets required a distinct exploration approach.
Exploration for Albitite-Hosted Uranium Mineralization
Prior to the Initial Public Offering in December 2006, exploration by U3O8 Corp. had consisted primarily of confirmatory work at some of the more advanced, historical prospects. This work has included rock chip sampling, sampling of discarded drill core, thin section and polished section work and electron microprobe examination of mineralized samples. Two airborne radiometric and magnetic geophysical surveys were undertaken by fixed-wing aircraft over the majority of Permit A, with a more detailed survey over the Kurupung Batholith, in 2006. The airborne survey revealed prominent radiometric anomalies over the Kurupung felsic intrusive and in other sectors of the basement sequence.
In 2007, exploration work included ground radiometric surveys designed to confirm airborne radiometric anomalies in the Kurupung Batholith and to provide more detail on their form and exact location. Geological mapping and soil geochemical surveys were undertaken over identified target areas and diamond drilling commenced in mid-2007. The initial diamond drill holes were designed to twin and test mineralized intervals reported by Cogema in their regular reports to the Guyana Geology and Mines Commission (GGMC). After initial confirmation of the presence of mineralization in the twin holes, drilling progressively
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stepped out to follow the mineralized structure along strike and down-dip. In 2007, 7,305 metres ("m") of drilling was undertaken in 51 bore holes on the Aricheng North, Aricheng South and Aricheng West structures.
Drilling continued on the Aricheng North, Aricheng South and Aricheng west structures in 2008, with initial, reconnaissance drilling of the Accori North A, Accori North B, Accori North C and Accori South structures. A total of 30,775 m was drilled in 170 bore holes in 2008. Having proved to be efficient at defining the extent of albitite structures in the Kurupung Batholith, Very Low Frequency Electromagnetic (VLF-EM) surveys were undertaken to identify albitite zones in other parts of the Kurupung Batholith. Ground radiometric surveys were undertaken at the same time to identify radioactive parts of the structures identified by VLF. The objective of this field work was to identify additional target areas for reconnaissance exploration drilling.
Re-interpretation of magnetic data identified S-shaped, sigmoidal shear zones in the Kurupung Batholith. Accori North C and Aricheng South are located on the same 10 km long magnetic lineament and highlights the remainder of the structures, and similar structures, to host mineralization.
Three more petrographic studies were done on samples from Aricheng North and Aricheng South. A VLF survey was done on Aricheng South. Based on this VLF data, structural interpretation and ground scintillometer data; there was an excellent potential for further mineralization along strike from the main zone.
The original petrological study from the Aricheng North prospect leads to the following observations: "The unaltered granitic samples are most accurately described as a porphyritic quartz monzonite and a granodiorite. In keeping with the regional metamorphism the area has undergone, the samples are very weakly chloritized, and feldspars weakly sausseritized. Mineralized samples show progressive reddening of the rock, which is due to a fine dusting by specular hematite in veins and in the rock matrix. Many of the samples were essentially metasomatic "albitites" and composed of albite and hematite. The most extreme examples of mineralization consist of disrupted breccias that are cemented by smoky quartz, chlorite, carbonate, hematite, or occasionally by zircon. One sample was highly sheared with chlorite-rich mylonitic zones showing fluxion banding and cataclasis. The petrological descriptions
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suggest that uranium has been introduced through a hydrothermal event along zones of structural weakness." Electron microprobe studies on some of the same samples from Aricheng North showed that they contained uranium-bearing phosphate and a Ti-rich discrete euhedral mineral tentatively identified as brannerite. The replacive nature of K-spar by albite was confirmed by microprobe. Hematite was identified as a ubiquitous mineral.
A second petrographic study was completed in December 2007 and consisted of a suite of six samples from Aricheng North. Uranium was found to occur principally as brannerite (the U-Ti oxide) and as un-named U-Si minerals. The third study was done in April 2008 and consisted of 24 samples from three drill holes: two drill holes from Aricheng South and one from Aricheng North. These showed varied degrees of cataclastic brecciation, interstitial microgranulation and networks of microfracturing. These features appear to control the distribution of carbonate and chlorite, as abundant accessory minerals in all the albite samples. Minor fine grained disseminated hematite and associated Ti-rich (sometimes uraniferous) phases occur closely with the carbonate (calcite) and chlorite. U3O8 Corp. has proposed that petrography and geochemistry indicate that the granite-hosted occurrences lie within zones of brecciation and intense hematite, chlorite and albite alteration, along structures such as faults and shear zones.
Exploration for Unconformity-Related Mineralization
A heliborne radiometric survey was flown in November 2007 over specific target areas for unconformity-related mineralization. This airborne survey focused on the escarpment of the Roraima Basin with the objective of identifying radioactivity emanating from the unconformity. Several weakly radiometric targets were identified, but field investigation led to the conclusion that the unconformity was so extensively covered by scree that even a strongly radiometric anomaly at the unconformity would be covered to the extent that it is unlikely to give rise to an anomaly.
A regional structural and stratigraphic study was undertaken of the part of the Roraima Basin and adjacent basement covered by Permits A and B. The objective of this study was to identify areas in which regional faults and shear zones cut through potentially graphite- bearing strata in the basement beneath the Roraima Basin. By analogy with unconformity- related deposits in the Athabasca Basin, mineralization is closely associated with graphite- bearing fault zones. Areas in which structural zones cut potentially graphite-generating strata adjacent to the basin, or in locations projected beneath the basin, were identified as targets. A
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structural-stratigraphic workshop in May 2008 identified eight targets based on the presence of regional scale structures, stratigraphy and the presence of graphite or diabase dykes.
The top-ranking targets were selected for coverage by a radiometric and magnetic fixed-wing, airborne geophysical study that was undertaken in late 2008.
A site visit was carried out by Mr. Robert Brian Alexander, WGM’s Senior Associate Geologist on September 5-10, 2008. Mr. Alexander completed a check sampling of drill core from Aricheng North and Aricheng South, and resurveyed several drill collars from each area. Discussions were also held with the Prometheus geologists in Georgetown and on site. Database files, maps, sections and reports were examined, and collected for reference and use in compiling the information necessary for a 43-101 report and resource estimate. Some recommendations were made about QAQC procedures and these were subsequently implemented by U3O8 Corp.
U3O8 Corp. has added several drill holes to both the Aricheng South and Aricheng North in the period from September to December 2008. The assay database was also updated with additional re-assaying as a result of QAQC review of all previous analyses.
U3O8 Corp. has drilled seven structures to date. The objective has been to develop targets that could be sequentially advanced to resource estimation. WGM’s Mineral Resource estimate is based on 92 drill holes on Aricheng North (15,451 metres) and 93 drill holes on Aricheng South (17,355 metres). Infill drilling has been completed to approximate 25 metre centers on Aricheng South and 50 metre centers on Aricheng North.
WGM conducted a Mineral Resource estimate for both the Aricheng North and Aricheng
South deposits. Indicated Mineral Resources total 2.68 million tonnes grading 0.10 % U3O8 with a contained 5.81 million lbs U3O8. The estimates were prepared from a block model using a 0.05% U3O8 cut-off grade. Assay grades in Aricheng North were also capped at 1.3%
U3O8. Results of the estimate are summarized below:
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Aricheng North and Aricheng South Mineral Resource Estimate (using 0.05 % U3O8 cut-off, and 1.3% high grade cap) Classification of Mineral Resources Tonnes % U3O8 U3O8 lbs Aricheng South Indicated 1,895,004 0.09 3,718,203 Inferred 421,685 0.09 820,136 Aricheng North Indicated 781,519 0.12 2,096,298 Inferred 223,484 0.11 517,691
Total Aricheng North and Aricheng South Indicated 2,676,523 0.10 5,814,500 Inferred 645,169 0.09 1,337,827
WGM’s recommendations to U3O8 Corp. are:
• Continue with the diamond drilling of both the Aricheng North and Aricheng South deposits;
• Undertake a trenching program to sample for mineralization in the saprolite at both the Aricheng North and Aricheng South deposits;
• Maintain the current QAQC program;
• Conduct mineral processing and metallurgical testing on both the Aricheng North and Aricheng South deposits;
• Conduct basic geotechnical studies on existing and any drill core to determine rock competencies in both Aricheng North and Aricheng South deposits;
• Undertake a preliminary mine plan; and
• Conduct a topographic survey.
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2. INTRODUCTION AND TERMS OF REFERENCE
2.1 INTRODUCTION
The project is wholly owned through Prometheus Resources (Guyana) Inc. ("Prometheus"), a wholly owned subsidiary of U3O8 Corp. ("U3O8 Corp."). The Prometheus exploration property encompasses two reconnaissance permits, Permit A and Permit B, totalling approximately 3.17 million acres (1.33 million hectares) in the northwest part of Guyana, South America (Figure 1). Permit A encompasses a granite-greenstone terrain proximal to the Pakaraima Plateau. Permit B covers the Pakaraima Plateau and portions of the Roraima Sedimentary Basin. The area is accessible by numerous navigable rivers, gravel roads and fixed wing aircraft or helicopter.
Uranium mineralization was discovered in the Kurupung Batholith, in the Early Proterozoic basment of the Roraima Basin in Guyana by Compagnie Générale des Matières Nucléaires ("Cogema") (now Areva) in the early 1980s. Cogema drilled ~250 core holes on various targets before dropping its exploration rights to the property during the nadir of the uranium price in the early 1980s. Two exclusive reconnaissance Permits (Areas A and B) were acquired by U3O8 Corp. and the company was publicly listed in December 2006. U3O8 Corp. currently has a two-pronged exploration approach that includes:
• Following up and expanding on the basement-hosted uranium discoveries made by Cogema in the Kurupung Batholith; and • Exploring for unconformity–type uranium near the base of the Roraima Basin which has strong geological similarities to the Athabasca basin in terms of basin fill, basement lithology, structure and age.
Near-term resource potential lies in the Cogema discoveries. U3O8 Corp. has, to date, drilled seven structures, which were identified by Cogema in the early 1980s. The objective of the exploration of the mineralized structures in the Kurupung Batholith has been to develop targets that could be sequentially advanced to resource estimation (Figure 2).
The current status is that infill drilling has been completed on approximately 25 metre centres on the Aricheng South structures. As of November 24, 2008, the drilling totalled 17,355 metres in 93 drill holes. The drilling includes drill holes numbered ARS-001 to 015
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Figure 1. Location of Reconnaissance Permit Areas A and B in Guyana, South America
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Kurupung Batholith
Figure 2. Reconnaissance Permit Area A and B with location of the Kurupung Batholith
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and ARS-017 to 093. Technical problems led to bore hole ARS-016 being abandoned prior to reaching the targeted depth, and therefore there are no results for this bore hole. Another four drill holes have been since completed and assay data is still pending. These drill holes total another 800 metres, and are numbered ARS-094 to 097.
The drilling at Aricheng North was completed at roughly 50 metre centres, although some infill drilling was done to better define and constrain the mineralized shoots identified at 25 metre spacing. The drilling totalled 15,451 m in 92 drill holes, numbered ARN-001 to 092.
Thereafter, additional drilling will be done along strike and down-dip of successful scout drilling already completed on the Aricheng West, Accori North-C and Accori South structures so that these results can be delivered for later resource estimation.
2.2 TERMS OF REFERENCE
On March 24, 2008, U3O8 Corp. retained Watts, Griffis and McOuat Limited ("WGM") to carry out an independent technical review of the Aricheng North and Aricheng South uranium deposits located in western Guyana in support of a National Instrument 43-101 ("NI 43-101") Technical Report and Mineral Resource estimate.
2.3 SOURCES OF INFORMATION
The majority of information contained in this report was obtained from reports, documents and papers as listed under the section entitled References. The geological, mineralization and exploration descriptions are primarily from memos and reports prepared by U3O8, its contracted consultants, archived reports and maps authored by Cogema and available at the Guyana Geology and Mines Commission ("GGMC"), or from public scientific literature. The historic exploration conducted by Cogema from 1979 to 1984 predates NI 43-101, and the numerous reports and maps archived at the GGMC are mostly devoid of assays except for a few rock chip samples. Assays for the core holes completed by Cogema are not available. As persons holding post-secondary degrees in geology or related fields prepared the reports, the reports and relevant data are considered to be of good quality, despite any omitted data.
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In executing this assignment, WGM also relied on material on file in WGM's office and information gathered during the WGM site visit. A site visit was carried out during September 5-10, 2008 by Mr. Robert Brian Alexander.
During the site visit, WGM was able to complete a check sampling of drill core from Aricheng North and Aricheng South, and resurveyed several drill collars from each area. Drill core was quarter split, and 23 samples were taken from each of the two deposit areas. A total of 50 samples, including 2 blanks and 2 standards for QAQC purposes, were submitted for analysis. The samples were sealed in plastic bags and transported by WGM to ACME’s sample preparation facility in Georgetown. After crushing and pulverising, 20 g of each sample was shipped to ACME laboratory in Vancouver, Canada to be analysed for uranium by ICP-MS after hot, four-acid digestion.
2.4 UNITS AND CURRENCY
Guyana uses the Imperial system for daily life, a legacy of the days of British colonial rule (Guyana gained independence in 1966). Some government materials are available in the metric (cgs) system. Throughout this report, common measurements are in metric units. Linear measurements are kilometres ("km"), metres ("m"), centimetre ("cm") and millimetre ("mm"). Assay results for analytical results for precious metals gold ("Au") and silver ("Ag") are reported in parts per billion ("ppb Au") and grams per metric tonne gold ("g Au/t"). Silver ("Ag") is reported as parts per million ("ppm Ag") and/or grams per metric tonne silver ("g Ag/t"). All currency amounts are shown in United States dollars (“US$”). In September 2008, the exchange rate was approximately 200 Guyanese dollars to one US$.
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2.5 DISCLAIMER
WGM has not verified title to the Property, but has relied on information provided by Prometheus, a wholly owned subsidiary of U3O8 Corp.
This report or portions of this report are not to be reproduced or used for any purpose other than to support the above noted purposes without WGM's prior written permission in each specific instance. WGM does not assume any responsibility or liability for losses occasioned by any party as a result of the circulation, publication or reproduction or use of this report contrary to the provisions of this paragraph.
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3. RELIANCE ON OTHER EXPERTS
WGM prepared this study using the reports and documents as noted in the text and "References" at the end of this report.
WGM did complete a site visit in September, 2008 as a prerequisite prior to a NI 43-101 Technical Report and Mineral Resource estimate. We have relied on information provided by Prometheus, a wholly owned subsidiary of U3O8 Corp. This information was provided by Mr. Richard Cleath (Vice President) and Mr. Jesse D. Wellman (Geologist and GIS Analyst).
Historical data in this report was supplied from a NI 43-101 Report by Clinton Davis (2006) of Dahrouge Geological Consulting Ltd., which was commissioned by U3O8 Corp.
Information concerning the exploration and mining licensing system in Guyana has come from Government officials in Georgetown as well as WGM own research and country files.
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4. PROPERTY DESCRIPTION AND LOCATION
4.1 LOCATION
The project is wholly owned through Prometheus, a wholly owned subsidiary of U3O8 Corp. The Prometheus exploration property encompasses two reconnaissance permits, Permit A and Permit B, totalling approximately 3.17 million acres (1.33 million hectares) in the western part of Guyana, South America. Permit A encompasses a granite-greenstone terrain proximal to the Pakaraima Plateau and part of the Roraima Basin. Permit B covers the Pakaraima Plateau and portions of the Roraima Sedimentary Basin as well as some basement units. The area is accessible by numerous navigable rivers, gravel roads and fixed wing aircraft or helicopter.
4.2 PROPERTY DESCRIPTION
4.2.1 THE MINING REGULATIONS OF GUYANA
In Guyana, subsurface rights for minerals are vested in the state. The Guyana Geology and Mines Commission (GGMC) is charged with managing the nation’s mineral resources and the statutory body responsible for granting licenses to operators wishing to carry out mining exploration in Guyana. Licenses are granted subject to the approval of the Minister of Mines. Licenses and permissions regarding mineral prospecting, mining and development as well as geological and geophysical surveys are granted under the Mining Act 1989. All investment projects which emphasize the extraction of mineral resources are generally reviewed and approved by the GGMC. In 1996, the Government of Guyana enacted the Environmental Protection Act, pursuant to which an environmental permit must be obtained from the Environmental Protection Agency of Guyana in order to place a mineral property in Guyana into production. Further information can be found on the GGMC web site at http://www.ggmc.gov.gy/lm.html#apppro4rs.
The Mining Act, 1989 allows for four scales of operation: 1. A Small Scale Claim has dimensions of 1,500 ft x 800 ft whilst a river claim consists of one mile of a navigable river. 2. Medium Scale Prospecting and Mining Permits. These each cover between 150 and 1,200 acres.
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3. Prospecting Licences for areas between 500 and 12,800 acres. 4. Permission for Geological and Geophysical Surveys for reconnaissance surveys over large acreages with the objective of applying for Prospecting Licences over favourable ground selected on the basis of results obtained from the reconnaissance aerial and field surveys.
Small and medium scale property titles are restricted to Guyanese citizens, however, foreigners have been entering into joint-venture arrangements whereby the two parties jointly develop the property. This is strictly by private contract. In 2003, there were 2,513 Medium Scale Prospecting Permits and 18 Prospecting Licences in existence.
Foreign companies may apply for Permission for Geological and Geophysical Surveys and for Prospecting Licences.
Section 96 of the Mining Act empowers the minister to grant a concession called "Permission for Geophysical and Geological Survey". Basically application for a Permission is based on new or special concepts that need to be tested on a Reconnaissance level. The objectives can be based on geological hypotheses, the need to obtain regionalized information, etc.
There is no fixed format for these Permissions, however, an application will have to contain fundamental elements such as an elaboration of the geological objectives and program, the area(s) of interest, proposed fees and scheduling. Technical and financial capability of the applicant will also be considered.
The GGMC grants two forms of licenses in respect of large scale mining – a Prospecting License for exploration purposes only, and a Mining License.
After satisfactory submission of the required documents, application for a Prospecting License is processed and, if recommended by the Board of Directors of the GGMC, will be sent to the official gazette for publication. If there are no objections to the grant then ministerial approval is sought. When this approval is obtained, the Prospecting License becomes available on payment of the first year's rental and submission of a Performance Bond that represents 10% of the approved budget based on a reasonable work program. Rental rates are: US$0.50 acre for first year; US$0.60 for second year and US$1.00 for third year. However since 1998 there has been a 50% rebate on rental rates, which in effect have halved rentals.
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The term of the Prospecting License is for three (3) years, with two (2) additional rights of renewal of one (1) year each. The Mining Act 1989 stipulates that three (3) months prior to each anniversary date of license, a Work Program and Budget for the following year must be presented for approval for the work to be undertaken during the following year.
The Obligations of the licensee include quarterly technical reports on its activities and an audited financial statement to be submitted by June 30 of the following year for the previous year's expenditure. Should the licensee relinquish part or all of the Prospecting License area then he is required to submit an evaluation report on the work undertaken therein. Prospecting License properties are subject to ad hoc monitoring visits by technical staff of the GGMC. It is the applicant's onus to select the area of interest. This will be based, principally, on availability and good geological prospectivity.
At any time during the Prospecting License, and for any part or all of the Prospecting License area, the licensee may apply for a Mining License. This application will consist of a Positive Feasibility Study, Mine Plan, an Environmental Impact Statement and an Environmental Management Plan. Rental for a Mining License is currently fixed at US$5.00 per acre per year and the license is usually granted for twenty years or the life of the deposit, whichever is shorter; renewals are possible.
4.2.2 NATURE OF PROMETHEUS RESOURCES GUYANA INC.’S INTEREST
The property consists of two contiguous "permissions". Permit "A" consists of 1.432 million acres (approximately 579,500 hectares) and was granted on November 28, 2005. This parallels the edge of the Pakaraima Plateau and covers a granite-greenstone terrain. Permit "B" consists of 1.844 million acres (746,300 hectares), and was granted on June 1, 2006. This permit lies predominantly within the Pakaraima Plateau and covers part of the Roraima sedimentary basin.
Permit A is a polygon with vertices A,B,C,D,E enclosing approximately 579,500 hectares (Datum PSAD56):
A: Latitude 6° 42’ 26" N Longitude 60° 45’ 58" W B: Latitude 6° 47’ 05" N Longitude 60° 39’ 43" W C: Latitude 5° 09’ 47" N Longitude 58° 55’ 53" W D: Latitude 5° 06’ 11" N Longitude 59° 01’ 40" W E: Latitude 5° 47’ 00" N Longitude 60° 00’ 00" W
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Permit B is a polygon with vertices A,B,C,D,E,F,G,H enclosing approximately 750,900 hectares (Datum PSAD56):
A: Latitude 6° 42’ 25" N Longitude 60° 46’ 00" W B: Latitude 5° 46’ 56" N Longitude 60° 00’ 00" W C: Latitude 5° 06’ 11" N Longitude 59° 01’ 40" W D: Latitude 4° 18’ 06" N Longitude 59° 35’ 33" W E: Latitude 4° 27’ 38" N Longitude 59° 47’ 34" W F: Latitude 5° 11’ 18" N Longitude 59° 21’ 19" W G: Latitude 5° 38’ 27" N Longitude 60° 08’ 18" W H: Latitude 6° 19’ 49" N Longitude 60° 40’ 24" W
On the date of September 9, 2008, U3O8 Corp. announced that the Guyana Government had granted U3O8 Corp's wholly owned subsidiary, Prometheus, a one-year extension on the company’s Reconnaissance Permits for uranium exploration in Guyana. The Reconnaissance Permits (technically termed "Permission for Geological and Geophysical Surveys") provide U3O8 Corp. with exclusive exploration rights for uranium on its Reconnaissance Permit Areas A and B that total approximately 1.3 million hectares within the Roraima Basin and adjacent basement in Guyana. The Reconnaissance Permit for Area A is now valid until November 23, 2009, and for Area B until May 31, 2010.
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5. ACCESS, CLIMATE, LOCAL RESOURCES AND INFRASTRUCTURE AND PHYSIOGRAPHY
5.1 ACCESS
Guyana has an international airport at Timehri, about a 45-minute drive from the capital, Georgetown. Most flights travel to Trinidad or Barbados in the Caribbean and thereafter connect with major hubs. Specifically in the area where the bulk of historical uranium exploration has been carried out access is good, and consists of road, river and air. U3O8 Corp. has been using the Aricheng airstrip as an operations base and has built a permanent camp there. The airstrip is central to the known uranium occurrences and was constructed by Cogema in 1983. The strip is hard-packed and capped with lateritic gravel and is 2,000 feet long. The flight from Ogle Airstrip outside Georgetown takes approximately 1 hour 15 minutes; Cessna, Britten-Norman Islander and Caravan aircraft are available for charter. Aricheng airstrip is in constant use and is the major fuel depot and way station for further plane access into the interior (e.g. Kamarang). Fuel that is barged in from Georgetown is hauled by tractor road from the Mazaruni River at Martins Landing. These tractor roads are easily driven by all-terrain vehicles and provide access to both former Cogema and current Prometheus drill sites.
In 1977, a road was constructed through the Aricheng area to the village of Kurupung. A camp was constructed below Kumerau Falls on the Kurupung River and the area was intensively investigated for a proposed hydroelectric project. Numerous holes were drilled to investigate the bedrock beneath the proposed tailrace and penstock above the falls. The access road still exists as far as the Aricheng airstrip. A floating pontoon barge at Olive Creek on the Mazaruni River can take trucks across to the west bank. The journey from Georgetown to Aricheng takes 10 to 15 hours by Bedford truck, depending on weather. The Prime Minister’s office has informed U3O8 Corp. that there are plans to rehabilitate the Hydro Road and extend it from Kurupung on to the top of the Pakaraima Plateau.
Guyana is dissected by numerous navigable rivers, which provide the easiest access to the interior from the coast. A jet boat service from Parika, near Georgetown, on the Essequibo River runs several times a week and takes approximately 10 hours. Away from the Aricheng area, access relies principally on the extensive river network. There are numerous small encampments along the rivers draining the Pakaraima Escarpment. These are primarily land- dredge operations for alluvial gold and diamonds. There is a constant informal traffic of
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artisanal miners up the major rivers, and pontoon barging of excavators and other heavy equipment is a common sight.
5.2 CLIMATE
The Property lies in an area of tropical rainforest. Temperatures vary from 21°C to 32°C throughout the year. Rainfall averages 3,300 mm per annum in two well defined rainy seasons, December through January, and May through July.
5.3 LOCAL RESOURCES AND INFRASTRUCTURE
Population within the permit areas is very sparse and is generally made up of transient gold and diamond miners. Permanent settlements such as Kurupung consist of no more than a hundred people or so. The surface rights of Permits A and B are vested in the state, except over settlements or small mines in exploitation. Permit B contains or partially encloses the Amerindian communities or villages of Kamarang/Keng, Jawalla, Taruka and Monkey Mountain. A "captain" who is elected by the inhabitants heads each community. Surface rights have recently been granted to these communities within the boundaries of reserve areas. Many local employees and contractors come from the settlements of Kamarang and St. Cuthbert’s Mission. Guyana has a small pool of technical expertise, though the government has several training programs underway to enhance the numbers of skilled workers.
There is no power grid to the project areas. Guyana relies entirely on diesel-fired generators for its power needs even though studies have identified numerous potential hydroelectric resources in the Pakaraima Mountains. Such projects however are capital-intensive and the generation sites are remote from the city of Georgetown, meaning that expensive transmission tower lines would need to be erected. Hydroelectric projects could be viable if a local market such as a large-scale mining operation were nearby. From time to time there have been discussions about reactivating the Kumerau electricity project, which was seriously investigated in 1977 through numerous engineering studies and bedrock drill testing. A major hydroelectric power project at Amaila Falls, approximately 10 km north of Kaieteur Falls is currently inactive, waiting further funding. There are few permanent bodies of water in the interior of Guyana, however there is an overabundance of flowing water, suitable for any potential mining project.
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5.4 PHYSIOGRAPHY
The project area varies greatly in elevation. The areas within Permit A, which are east of the Pakaraima escarpment have been peneplained and are typically low-lying, approximately 80-100 m above sea level ("asl"). The scarp face along the northeastern edge of the Pakaraima Plateau is very dramatic, and is a chain of vertical cliffs of up to 500 m in height. Numerous waterfalls cascade over the scarp face, such as Kumerau Falls, Amaila Falls and Kaieteur Falls. Topography then climbs further through a series of benched mesas to the interior of the Pakaraima Plateau. The southern side of the Roraima Basin presents a more gradual change in elevation from its surroundings and the high scarp face is absent. The central parts of the Roraima Basin are considered too thick for conventional exploration techniques and have not been included in the reconnaissance permits.
The majority of the permit areas are covered by tropical rainforest. The forest has a dense canopy at 55 to 60 m and sparse undergrowth. In the southern part of Permit B, near the international border with Brazil, open savannah grasslands dominate the area.
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6. HISTORY
6.1 GENERAL AND GOVERNMENT PROGRAMS
The permits enclose a very large area that has been geologically mapped at various scales by the GGMC and their predecessor, the British Guiana Geological Survey. However, there have been few studies of the Roraima Group rocks other than that of Keats (1973) and Minter et al. (2002).
6.2 REGIONAL PRIVATE COMPANY PROGRAMS
Cominco Ltd. (which worked in Guyana as the McDame/Sandbach Packer consortium) in 1967-1975 found highly uraniferous boulders of lateritized conglomerate in the Muruwa River, but follow-up results were negative (Donnerstag, 1976; Gibbs and Barron, 1993).
Denison Mines Limited in 1968 had exclusive licence permission for most of the Roraima and its base (24,000 km2) and carried out an examination in 1968-70 of the basal Roraima conglomerate for Elliot Lake-type paleoplacer uranium potential. Eleven anomalies were identified (many small). Four anomalies were diamond drilled. Most anomalies were attributed to the mass effects of cliff exposures and to thorium concentrations in sediments.
Cogema entered Guyana in February 1979, after successful petitioning for a non-exclusive permission to carry out reconnaissance surveys for uranium over the whole country except for a 130 km-wide swath paralleling the Atlantic shoreline. Cogema is currently a division of Areva, a diversified energy production and transmission company and the world’s second largest miner of uranium. Cogema was created in 1976 from the Production Division of the French Atomic Energy Agency. Cogema initially chose the villages of Mahdia and Kurupung to base their stream sediment sampling crews because these had daily air service from Georgetown at the time. While the sampling teams were busy sampling creeks by portable zodiac inflatable boat for stream sediments their set-out helicopter, which was equipped with a removable scintillometer carried out "profile" flying over large swaths of the interior. These profiles were widely spaced irregular flight lines across country, designed to pick up any anomalous regions, rather than pinpoint and outline anomalies on the ground as would a grid survey.
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The choice of Kurupung was rather serendipitous because the nearby Anarabisi and Aricheng areas were crisscrossed many times by the survey craft. These yielded 4 times and 3.5 times background radiation respectively. The sampling crews were then rapidly deployed to Aricheng, where three stream sediment samples yielded 50 ppm uranium (the highest in the entire country survey). Follow-up work with SRAT SPP ground scintillometers gave a maximum of 7,000 counts per second ("cps") and rapidly located uranium-bearing outcrops in late 1980. The initial stream sediment surveying involved 2,800 samples, and 3,400 profile line kilometres were flown. Cogema found uranium in outcrop (uraninite and chalcolite) in eight locations spread out over 70 km, from Merume in the south to Anarabisi in the north. Merume was an early discovery where a narrow two metre long vein of chalcolite (torbernite) was found by prospecting with a scintillometer during stream sediment sampling. On the ground this was a 12,500 cps anomaly, which is considered very strong. Assay of a sample from this vein yielded 3,040 ppm uranium. The vein was hosted by basement Haimaraka shale, but within a hundred metres of what was mapped by Cogema as an outlier of Roraima formation. Flooding hampered follow-up of this area, and when an airborne survey was flown over it after discovery no anomaly could be located because the area was under a metre of water. Because it lay a considerable distance from the other showings it was not further followed up with drilling (Davis, 2006).
On 25 March 1981, Cogema applied for an Exclusive Permission within the reconnaissance area to cover an area of approximately 5,000 hectares over the Kurupung-Aricheng-Anarabisi area in preparation for detailed exploration. Work was halted in April to wait for gazetting of the permit, which came in September 1981. Trenching and gridding was started in October. Cogema set up a fluorimetry analytical laboratory in Georgetown and analysed samples internally. The countrywide reconnaissance ended at the expiration of the initial 3-year term and was replaced with a definitive joint venture agreement with the government on 22 February 1982.
Plans were lodged to build a permanent airstrip at Aricheng. Road upgrading began in June 1982 in preparation for moving in drills and heavy equipment. A new airborne geophysical survey was initiated in September. The first core drill arrived in October, and this was soon supplemented with reverse circulation drill machines. A truck mounted downhole radiometric survey array was also brought in. Heavy equipment work began on the airstrip, but it was not finished and permitted for use by the National Civil Aviation Board until March 1983.
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Numerous drill campaigns were carried out from October 1982 until October 1984. These were conducted concurrently with trenching, geological mapping, ground truthing of airborne anomalies, radiometric surveying, and limited magnetometer and VLF-EM surveying. The drills (from Quebec) were mobilized out in November 1984 and the project was shut down in December.
In all, 253 diamond and reverse circulation drill holes were drilled over 14 prospects, with more than 32,000 m drilled. The deepest hole drilled was ARNO 0001, at Aricheng North, which was 351 m downhole and 304 m true depth. It appears that the reverse circulation drilling was not very successful, with most holes abandoned due to caving or experiencing a high degree of deviation. The majority of areas drilled were subcropping radiometric anomalies not exposed at surface. Because drill assay records are not available, it is unknown how many later drill holes encountered mineralization.
Cogema found uranium mineralization in the Kurupung-Anarabisi granite batholith, in diorites at Eping, and in the Haimaraka basement shales at Merume Creek and Baboon Island. In the Kurupung area, the majority of the showings encircle the mesa at Dome-Aroka Mountain. A diabase sill of unknown thickness, which presumably has lateritized and protected underlying sediments from erosion, caps this mesa. Dome-Aroka Mountain rises to approximately 625 m asl, while the area encircling the mesa where granitic basement is exposed is only 100 m asl. Due to the proximity of the Pakaraima Escarpment, only a few kilometres to the west, it is reasonable to infer that Dome-Aroka Mountain also represents an outlier of Roraima sediments.
In total, 229 drill records of 253 holes have survived from the Cogema drill programs. All appear to have been targeted on radiometric anomalies that are exposed in subcrop or outcrop. It is apparent through the spatial distribution of drill holes and anomalies that they all appear to sit within a few kilometres (maximum of 16 km) from the edge of the Roraima Basin. It is particularly instructive to plot up the Cogema drill holes in terms of where they were collared relative to the basal Roraima unconformity. The Cogema historic drill holes were collared variously at between 70 and 122 m elevation, in the granitic basement. Keats (1973) has identified the basal unconformity of the Roraima Basin as occurring very close to Macreba Falls on the Kurupung River, which lies at approximately 112 m elevation according to published government topographic maps. Allowing for minor vertical faulting, the showings lie extremely close to the position of the unconformity or some 40 m below it. This is considered to be highly significant.
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Dahrouge Geological Consulting Ltd. found it difficult to evaluate the past work of Cogema due to a lack of empirical data. According to a ledger that was compiled by the GGMC, which lists all the materials received from Cogema, rock chip sample maps, trench maps, and drill hole assays were not surrendered to the Guyanese government. The various drill hole sections and drill hole logs record total counts per second, which is not immediately useful because potassium, thorium and uranium are all known to naturally produce radioactivity; nor is the type of scintillometer used for measuring always noted. The various monthly reports do not contain nor discuss U assay results.
In the last Cogema report filed with the government: "The Precambrian of Northern Guyana; Tentative Stratigraphic Interpretation" dated November, 1984 are the following three statements:
"In the event of resumption of exploration in Guyana, the "unconformity type deposit" model seems to be the most appropriate to lead to the discovery of large ore tonnage. This theme has only been partially studied in the granitic terrains.
"It must be noted that this study does not include the Roraima formation. The latter could be of utmost importance in the search for unconformed type deposits.
"The Roraima Formation seems to have been deposited in the same environments as known around the ore deposits of Canada and Australia."
Though the archived materials include numerous cross sections and long sections through the North Aricheng, Anarabisi and Rock Point areas there is nothing in the files suggesting a resource estimate was carried out (Davis, 2006).
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7. GEOLOGICAL SETTING
7.1 REGIONAL GEOLOGY
Guyana lies in the northern part of the Guiana Shield which includes Guyana, Suriname and French Guiana, and parts of Brazil and Venezuela (Figure 3).
The Roraima Basin evolved on part of the late Archean-age Amazon Craton, which is referred to as the Trans-Amazon Craton or the Guiana Shield, in the north and northeast of South America. It is a granite-greenstone belt terrain that evolved between about 2,250 and 2,000 Ma. The structural trend or "grain" of the terrain is approximately parallel to Guyana’s Atlantic coastline i.e. east-southeast.
The Roraima Supergroup ("RSG"), consisting of mainly continental sedimentary rocks with interbedded volcanic rocks, unconformably overlies the Trans-Amazon Craton or the Guiana Shield. The height of the base of the Roraima is variable from about 100 m asl at the base of the escarpment up to 2,800 feet (853 m) at the head of the Konawaruk River. Dikes and sills of the Gabbro and norite sills and dikes intrude the above mentioned rocks and form bold headlands in the surrounding mountains (Wojeik, 2008).
The Roraima Group sedimentary sequence in Guyana is part of a much larger sedimentary basin that extends into Venezuela, Brazil and Suriname. Roraima rocks within this basin build the Pakaraima mountains and plateau and cover an area of at least 73,000 km2 (Reis and Yanez, 2001). Isolated outliers of these rocks indicate that the Roraima Basin once covered a larger area of approximately 1,350,000 km2 (Figure 4). Zircons from volcanic tuff horizons within these sediments suggest that they were deposited in the early Proterozoic. Age dating indicates an age of 1,901 Ma (Minter et al, 2002) while dating by Santos et al. (2003) suggests a slightly younger age of 1,873 Ma.
Geological interpretation has indicated that uplift in the north and northeast of the Trans- Amazon basement led to the evolution of the Trans- Amazon orogenic belt and a complementary foreland basin (the Roraima Basin) to its southwest. Into this basin was deposited eroded sediment from the Trans- Amazon Mountains built of Archean granites and greenstone belt rocks. The Roraima Group, wherever it is preserved, builds tabular plateaus
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and cuestas that rise abruptly above the basement (Santos et al, 2003). The Roraima Mountains are the highest mountains of the Amazon Craton (up to 3,016 m at Mount Roraima, at the border triple junction of Guyana, Brazil and Venezuela). The sedimentary sequence that constitutes the basin range in thickness from 200 m (eroded) to 3,000 m in the Pakaraima plateau area of Venezuela.
Figure 3. Portion of geology map with Permit A and B superimposed. Permit A covers primarily granite-greenstone, and Permit B covers the Roraima Basin
Santos et al. (2003) have noted that local sedimentological studies by numerous workers across the greater Roraima Basin have identified environments of deposition ranging from alluvial fans to fluvial braided deposits. The sediments are predominantly quartz-pebble conglomerates, sandstones, siltstones and minor intercalated volcanic tuffs. In addition, lacustrine, aeolian, tidal and shallow marine deposits have been described. Overall, sandy continental deposits predominate. Thick diabase/gabbroic sills (up to 400 m thick) have intruded the Roraima sequence. Santos et al. (2003) have reported a U-Pb age for two mafic sills to be 1,782 ±3 Ma.
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Roraima Basin
Athabasca Basin
Figure 4. Roraima Basin, with outliers. The Athabasca Basin is superimposed on this image at the same scale to illustrate size comparisons
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The Roraima Basin has been favourably compared to the uranium-bearing Athabasca and Thelon Basins, and the Kombolgie Basin in Canada and Australia, respectively (Miller, 2000). The various known uranium occurrences and radiometric anomalies in Guyana are found along the periphery of the Roraima Basin.
The Precambrian rocks, late Archean-age, include folded metasedimentary rocks and metavolcanic rocks as well as coarse- and fine-grained sedimentary rocks with intercalations of volcanic rocks. Intrusive (granitoid) bodies occur within the folded strata (Wojeik, 2008). Mylonitized zones within high grade metamorphic rocks in the region have been related to an Upper Proterozoic tectono-thermal event (Wojeik, 2008).
Porphyries have been recorded in the valleys of the Mahdia and Minnehaha Rivers and from Jordan’s Landing on the Konawaruk River. There are pink or green, fine grained rocks with large phenocrysts of plagioclase and hornblende. The matrix consists of granular quartz and orthoclase with small amounts of magnetite and sericite (Wojeik, 2008).
Unconsolidated sands rest unconformably on all of the above described rocks at thicknesses up to 100 m. They are commonly white or brown with bands and lenses of mudstone up to 7 m thick. Gravel and pebble horizons also occur in these sections (Wojeik, 2008).
7.2 PROPERTY GEOLOGY
Away from the edge of the Pakaraima Escarpment there are few well documented outliers of Roraima Group sediments (see Figure 4), however there is a large and very prominent example at Makari Mountain (Snowden, 2004), small outlier outcrops at Merume Creek (Cogema Reports), Werushima (report from a local claim owner), and reports of down- dropped blocks of Roraima along major structures at Red Hill near the Peters Mine and at Million Mount approximately 5 km away (Guyana GoldFields Inc., 2004). The Tafelberg in Suriname is a famous Roraima outlier (Santos et al, 2002). It is reasonable to speculate that the entire Permit 'A' area was at one time covered by Roraima Group sediments, and that these have been removed by scarp retreat and erosion.
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The Kurupung Batholith, located in Permit A (see Figure 2), was previously identified to contain uranium mineralization of potentially economic importance. Initial exploration was proposed to confirm the extent and grade of uranium mineralization at the Aricheng Prospect (Figure 5).
Figure 5. Regional map of Kurupung Batholith showing contoured cps and reconnaissance areas
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8. DEPOSIT TYPES
World uranium resources are contained in some 14 different deposit types, with the major types in decreasing order of world resources as follows:
• Mesoproterozoic unconformity associated (>33% in Australia and Canada), the one giant Olympic Dam Mesoproterozoic breccia complex deposit in Australia (>31%), sandstone hosted (18%, mostly in the USA, Kazakhstan and Niger), surficial deposits (4% mainly in Australia), large tonnage but low grade resources in early Paleoproterozoic conglomeratic deposits, and small percentages in volcanic, metasomatic, metamorphic, granite-hosted and vein-type deposits (World Uranium Mining, 2004). The geologic reserves of all unconformity-type uranium deposits in the world are estimated at 470,000 tonnes (International Atomic Energy Association, 2003).
Due to the very high grade and large reserve potential, unconformity-type uranium deposits have become the most sought after targets during the last 20 years and will continue to be the model of choice in the near future.
8.1 UNCONFORMITY DEPOSITS
Unconformity-type uranium deposits exhibit a close spatial relationship to unconformable contacts, in particular between older crystalline basement rocks and younger, undeformed clastic sedimentary sequences composed predominantly of multi-cyclic quartz arenites. All examples of significant unconformity-type mineralization identified to date are associated with Mesoproterozoic clastic basins primarily in Saskatchewan (e.g. Athabasca Basin), and Australia (e.g. Kombolgie Basin) although similar mineralization styles have been reported in the Northwest Territories (e.g. Thelon Basin).
The first-order exploration strategy for unconformity-related uranium deposits requires the identification of a relatively undeformed, clastic intracratonic continental sedimentary basin, overlying a deformed granite-greenstone basement complex. Mineralization is typically focused at the intersection of the basement-sandstone contact and high-angle faults, many which appear to be reactivated older basement structures (Thomas et al, 2000).
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Conventional models for unconformity associated uranium deposits invoke late diagenetic to hydrothermal processes. Most models in use today are a combination of empirical spatially associated attributes invoking diagenetic hydrothermal processes and ore formation being spatially and temporally focused by the reactivation of pre-basin structures (e.g. Hoeve and Sibbald, 1978; Hoeve et al, 1980; Kotzer and Kyser, 1995; Fayek and Kyser, 1997; Tourigny et al, 2005).
These models propose that oxidizing U-transporting basin fluids, heated by a geothermal gradient, eventually attained 200°C (about 5-6 km) at the unconformity and reacted with reducing basement lithologies prompting uranium precipitation due to mixing of reduced and oxidized fluids (Hoeve and Sibbald, 1978). Precipitation was primarily focused by structural and physiochemical traps (Thomas et al, 2000). These traps operated in fixed locations for very long periods of time (Hoeve and Quirt, 1987), perhaps hundreds of millions of years. Zones of fluid mixing are characterized by alteration halos that contain illite, kaolinite, dravite, chlorite, euhedral quartz, and locally, Ni-Co-As-Cu sulphides (Kotzer and Kyser, 1995). In the above models, fluids became mixed where reducing basement fluids circulated upward into the overlying oxidized formational-fluid environment (egress type). Ingress of basin formational fluids downward into the basement developed inverted alteration zonation, mainly in host basement rocks, and has virtually no expression in the overlying siliciclastic strata (Quirt, 2003).
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9. MINERALIZATION
The mineralized zones known to date are predominantly in the Aricheng, Anarabisi, Eping, and Merume areas. Cogema investigated the following areas in various detail: Aricheng North (47 holes), Aricheng West (10 holes), Aricheng South (38 holes), Central Aricheng (4 holes), Aricheng Junction (8 holes), Rock Point (65 holes), Rock Point Extension (10 holes), Anarabisi South (31 holes), Anarabisi West (2 holes), Illiwa (9 holes), Aroka (7 holes), Accori (12 holes), Eping (4 holes), Baboon Island (2 holes), Meamu, Potopa, White Rock, Kareen, Apo, Pteropai, and Merume.
Cogema believed the mineralization to be genetically related to granites and described most of the zones as "episyenite" (Gibbs and Barron, 1993). Episyenite is a term little used outside of France, and describes an alkaline metasomatized granite that has had quartz removed and the resulting void space mineralized (Poty et al, 1986; Cuney, 2006).
U3O8 Corp. has more recently proposed that petrography and geochemistry indicate that the granite-hosted occurrences lie within zones of brecciation, quartz veining, and intense hematite, chlorite and albite alteration, along structures such as faults and shear zones. Away from these zones the host granite is not notably altered. The granites do not have an exotic mineralogy or unusual chemistry. A lack of late-stage igneous phases such as aplite or pegmatite suggests that the Kurupung occurrences are not magmatic segregations. Mass balance considerations and a lack of large scale alteration suggest that the uranium and other elements are not derived from the host granite, nor is there an identified reservoir of U, P, Ti, or Zr in the basement lithologies, though detrital apatite, monazite, ilmenite, rutile and zircon are abundant in the Roraima basin sediments. The Kurupung zones show evidence of oxidizing fluids. Deep basement fluids are generally reducing and incapable of transporting uranium (Alexandre et al, 2006).
Any plausible explanation for the genesis of these deposits must account for the geographically widespread occurrences (spread over 70 km) in shales as well as granites. There are numerous other examples of uranium mineralization associated with albite and hematite in and on the margin of Proterozoic sedimentary basins. Most of these are insufficiently studied to propose a satisfying genetic origin (Davis, 2006).
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10. EXPLORATION RESULTS
10.1 REGIONAL EXPLORATION SURVEYS
An airborne geophysical survey, a combined radiometric and magnetometer survey, was completed by Terraquest Ltd. of Markham, Ontario on 26 May 2006. There were 380 line km flown in 14 NNE-SSW lines that were spaced at about 500 m. The PA31 aircraft was flown at an altitude of 80 m or 300 ft asl. A 1,000 cubic inch spectrometer and a Cesium magnetometer were used in the survey. Geophysicist Dr. Allan Spector of Toronto, Ontario reviewed the data and presented his findings and recommendations to U3O8 Corp. management in "Assessment of Preliminary Airborne Geophysical Data, Kurupung Area, Guyana".
The survey was flown over the Aricheng North, Aricheng and Rock Point areas. Data was compiled in the form of 1:50,000 scale composite profiles and maps showing, separately, Total Count, Ternary, Potassium, Thorium and Uranium components of the radiometric data, plus the magnetic intensity data. Very prominent radiometric anomalies were observed in this data. The most conspicuous geological feature was the high radioactivity over an exposed granitic intrusive in the south part of the survey. The total count radiation was conspicuously elevated over the seven kilometres width of this body; 1,000 to 3,000 cps above background. Several prominent uranium channel anomalies were observed, including: a 110 cps amplitude anomaly over the Aricheng North Grid; a 75 cps amplitude anomaly over the Rock Point Grid; and 40 cps anomalies north of the Mazaruni River.
From the aeromagnetic data, a major structural discordance was observed near the south flank of the granite intrusive involving zones of very high iron content and some zones of elevated uranium radioactivity. Dr. Spector further stated that the reconnaissance survey demonstrated the existence of features of high exploration interest in the U308 Corp. property and the capability of the airborne method of detecting these features. As a result of this finding, it was recommended that emphasis be placed on attaining the highest quality of geophysical data recovery through the use of a slower survey aircraft, e.g. the Cessna 206, to increase data statistic and resolution, and maintenance of 100 m line spacing with the ability of 50 m infilling over features of interest.
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The second and more detailed combined radiometric and magnetometer airborne survey was completed by Terraquest Ltd. of Markham, Ontario early in the fourth quarter of 2006. The area of coverage was the Kurupung Intrusive located in Permit A. Fifteen thousand line kilometres of data was collected over 40 days, using a 2,000 cubic inch NAL crystal array and cesium vapour magnetometers. The north-south lines were spaced 200 m apart over the historical occurrences and 400 m apart over the broader reconnaissance area. The flight path was designed at 70 m above the ground.
The results of the analysis and geological interpretation of the spectrometer and aeromagnetic data were presented in map form at 1:50,000 scale and at composite 1:100,000 scale. The maps principally show the location of zones of anomalous uranium channel radioactivity. Anomalous radioactivity is defined as follows:
• Uranium channel radiation at least 10 cps above background; and, • Uranium channel radiation greater or equal to either thorium or potassium channel radiation.
The interpretation maps show the location of 44 sites where ground investigation and/or shallow drilling is recommended. More than half of the sites are located within the Kurupung Intrusive. 28 of these sites were considered high priority (Figure 6).
The magnetic data reveals the presence of major structural discordances in Permit A. These discordances coincide with fault rocks in the areas where the magnetic features have been drilled. Most conspicuous is a series of northeast-southwest faults included in fault zones FZ1 and FZ2 which cause substantial dislocation of the central and south-eastern parts of the Kurupung Intrusive. Ground investigation of the southwest extensions of these faults (Permit B), where they are covered by the Roraima, would have a high priority.
The Perenong Belt crosses the southeast part of the Kurupung Intrusive. It is a zone of severe deformation involved in FZ1. Most importantly, it involves a number of zones of conspicuous uranium radioactivity.
A detailed regional lineament study was completed during the third quarter of 2007. The study covered both Permit A and B, and used a commercially available 90 m pixel digital elevation model (Figure 7, DEM map of Permit A and B showing individual flight blocks). The purpose was to determine if any deep seated structures were present in both the basement and Roraima Formation rocks. Major structural intersections in close proximity to the unconformity were thought to provide higher priority exploration targets. The study was also
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done to prioritize areas for a proposed helicopter supported radiometrics survey. Five areas of interest were reported. Four are located at or near the unconformity (Eping-Kurupung, Purupununi and Madhia areas), one in the southeast portion of Permit B (Monkey Mountain) and the Rumong Rumong area.
Figure 6. Airborne radiometric survey map showing coverage of the Kurupung Batholith and outlining 28 priority targets
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Figure 7. DEM Map of Reconnaissance Permit A and B showing individual flight blocks flown during the airborne radiometric survey
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The helicopter supported airborne radiometric survey was undertaken in November, 2007. The survey was focused on the unconformity between the Roraima Formation and the basement rocks. The 6,500 line-km were flown over 59 individual flight blocks that were predominantly located in Permit B (see Figure 7). A 100 m flight line spacing was used within the individual blocks. Table 1 lists ten priority reconnaissance targets.
TABLE 1. 2008 PRIORITY RECONNAISSANCE TARGETS Anomaly Block Geologic Setting Three 2.4 Roraima Unconformity / Kurupung Intrusive Sisters Kurung 2.5 Roraima Unconformity / Kurupung Intrusive Illiwa 2.12 Kurupung Intrusive Meamu 2.11 Kurupung Intrusive Pakaseru 4.7 Roraima Unconformity Karanang 4.6 Roraima Unconformity Merume 3.7 Roraima Unconformity / Ignimbrite Rumong 3.8, 3.9 Granitic Gneiss Minnehaha 6.7 Varied Perenong 2.18 Kurupung Intrusive
A structural/stratigraphic workshop was held in Toronto, Canada between May 6 and May 9, 2008. The intent of the workshop was to integrate the structural and stratigraphic interpretation of radarsat data draped on a digital elevation model of topography prepared by consulting structural geologist Dr. Michael Baker with the re-interpretation of the airborne radiometric and magnetic data as well as local knowledge gained from the ongoing exploration program. The data compilation and interpretation was used to select high priority targets along the unconformity and within the Roraima Formation. Targets were selected based on the presence of regional scale structures, stratigraphy (both host and basement), and the presence of graphite or diabase dikes or sills. The regional structure and stratigraphy map generated from this study is presented in Figure 8. A total of eight targets were selected based on the above criteria.
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Figure 8. Summary of regional structure and stratigraphy of Permits A and B, based on satellite radar imagery
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Reinterpretation of magnetic data from the airborne geophysical survey flown in 2006 show that the Kurupung Batholith is cut by magnetic anomalies that are arranged in open "S"- shaped curves, termed sigmoids (Figure 9). These sigmoidal zones extend from the magnetic anomaly that defines the shear zone on the southwestern margin of the Kurupung Batholith to the complex array of shear zone–related anomalies on its northeast margin. These sigmoid- bounded blocks formed as a result of rotation of relatively rigid blocks within a right-lateral shear couple. Mineralization in the Accori North C and Aricheng South areas occur on one of the sigmoidal magnetic anomalies in the Kurupung Batholith (Figure 10). This observation is significant in that there is a possibility that uranium mineralization may occur elsewhere along the 10 kilometre length of the sigmoidal structure on which the Accori North C and Aricheng South areas occur. Any such mineralization is likely to be arranged in mineralized shoots interspersed with low grade areas. Other sigmoidal structures may be mineralized in the same way as the Accori North C–Aricheng South sigmoid. Consequently, radiometric anomalies that lie on sigmoidal structures will be prioritized for further exploration. Observations on the location of mineralization within one sigmoid can be used to predict the location of mineralization within other sigmoids in the same structural system. An understanding of mineralization in the Accori North C–Aricheng South sigmoid should assist in identifying other mineralized sectors of adjacent sigmoidal structures.
10.2 PROPERTY-SCALE EXPLORATION
Dr. Keith Barron initiated a desktop study of the potential of western Guyana for unconformity-type uranium deposits at the GGMC in July 2005. Dr. Barron carried out a four-day field visit to Aricheng in August 2005, with Dr. Andy Kemp of the GGMC as observer. Three field assistants and cook accompanied the party. Walking traverses were conducted using a Scintrex Model BBS-1SL scintillometer, held at waist height. A background of 30-50 total cps was established at the Aricheng airstrip. Numerous zones of radioactivity in the 150-250 cps range were located. The greatest values came from veinlets and breccias in granite in the bed of the road running between Aricheng airstrip and Wildcow Landing on the Kurupung River, and from a boulder ridge at Rock Point. However, the very significant zones of radioactivity located by Cogema could not be found in the limited time available due to the complete obliteration of trails and roads by 20 years of jungle growth. Remains of the Cogema campsites at Rock Point and Aricheng Airstrip were found, as well as a plastic core box, a discarded drill rod, and five old drill holes with plastic casings. A maximum value of 452 ppm uranium was returned from a grab sample taken from a boulder containing veinlets of specular hematite, metamict smoky quartz, and chlorite.
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Figure 9. Airborne magnetic data from Kurupung Batholith with interpreted structures
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Figure 10. Simplified structural interpretation with mineralized structures shown
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The above results were considered of sufficient interest to warrant the filing of a reconnaissance application for Permit A and subsequent incorporation of U3O8 Corp. Application was made for Permit B in January 2006. The company funded an expanded one- month confirmatory program during March 2006. This program, carried out by Derreck Sadjoeri and Keith Barron with four field assistants resulted in the collection of 68 rock chip grab samples in areas of elevated scintillometer response. Two GR-110 Exploranium Gamma-ray scintillometers and a GR-130G Exploranium NaI Minispec Gammaray spectrometer were used in the work.
A core dump was discovered at Aricheng Landing on the Mazaruni River where Cogema had its main camp in the 1980s. The core was not racked, boxed or labelled and the core pieces consequently could not be matched to holes. A total of seven pieces of cores were selected for analysis (Davis, 2006).
Samples collected from prospect pits and outcrops at Aricheng North and Rock Point contained minor surface encrustations of torbernite (Davis, 2006). Torbernite is a common secondary weathering product of uranium mineralization. A small number of surface samples have yellow surface encrustations of what is believed to be autunite (Davis, 2006).
A total of 77 samples were analyzed, consisting of 68 field samples collected by Derreck Sadjoeri, two grab samples from the Aricheng North showing collected by Dr. Barron, and seven drill core samples selected by Dr. Barron from the core dump at Aricheng Landing. These samples were submitted to Activation Laboratories Ltd. ("Actlabs") for uranium assay and analysis for other metals. The samples were moderately to strongly anomalous in uranium content, with a maximum value of 7,700 ppm U and a minimum of 5.67 ppm U (Davis, 2006). The minimum compares with the average uranium content for "typical" granite at 3.7 ppm (Mason, 1966). Only one sample contained appreciable gold (284 ppb). There were eight additional weak gold anomalous samples (8- 28 ppb Au). One sample (C5) contains appreciable silver (20.5 ppm Ag). There are 17 samples assaying between 1.0 and 4.7 ppm Ag. There are a number of anomalous to highly anomalous base metal values (maximums of 1,330 ppm Cu, 153 ppm Ni, 2,650 ppm Pb, 138 ppm Zn, 72 ppm Co, 200 ppm V). A maximum value of 7,647 ppm barium, suggests the presence of barite. Samples are typically not highly anomalous in thorium (2.86- 59.08 ppm Th) and uranium and thorium are not well correlated. Mineralized samples typically have low levels of potassium (K2O). Approximately half the samples were tested with a scintillometer in Georgetown before shipping. Uranium contents correlate very well with scintillometer count rates. Mineralized samples are highly enriched in phosphate (P2O5,
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up to 7.31%), which is confirmed by the presence of torbernite and possibly autunite in many samples. Uranium content is also positively correlated with titanium (TiO2, maximum 1.79%), which is confirmed mineralogically by the presence of uranium-bearing titanate (brannerite?) in microprobe determinations. Unaltered granites (C3 and C4) have subequal
amounts of K2O and Na2O. Altered and mineralized samples are significantly albitized at the expense of K-feldspar, which is reflected in high sodium contents (9.2% Na2O and corresponding 0.16% K2O in sample 06069). Arsenic is low (up to 42 ppm), but anomalous in uranium mineralized samples, suggesting a minor contribution from uranium arsenates. Sample C5 contains crosscutting veinlets of zircon and corresponding high levels of Zr (49 650 ppm) and Hf (491 ppm).
To summarize: Aricheng North 38 samples, 5.67–7 700 ppm U Aricheng South 2 samples, 645.25–832.3 ppm U Rock Point 26 samples, 16.98–3 940 ppm U Aricheng West 2 samples, 116.48–331.52 ppm U
A petrological study of a selected fifteen samples was done by Dr. Barron. Thirteen samples were of drill core and two of field samples from the Aricheng North prospect. Dr. Barron made the following observations:
"The unaltered granitic samples (C3 and C4) represent typical examples of "Kurupung granite". These are most accurately described as a porphyritic quartz monzonite and a granodiorite respectively. They contain subequal contents of Kspar (microcline and untwinned), and plagioclase, with interstitial quartz, hornblende amphibole, trace sphene, trace magnetite, and trace zircon. In keeping with the regional metamorphism the area has undergone, the samples are very weakly chloritized, and feldspars weakly sausseritized Sample C4 contains a late veinlet of epidote. The magnetite shows rare exsolution/replacement of hematite. Sample C11 is from a late crosscutting diabase (dolerite) dyke.
"Mineralized samples show progressive reddening of the rock, which is due to a fine dusting by specular hematite in veins and in the rock matrix. The Cogema drill logs and the portions of drill core that could be pieced back together indicate that visually the large phenocrysts are the first to be altered, from cream to pink or rose colour, and that closer to veins and breccias zones the rock is progressively and pervasively reddened. Mineralogically, an interlocking mosaic of anhedral albite progressively replaces microcline and quartz. Knots of hematite replace mafic minerals. Many samples have later crosscutting veinlets of chlorite with or without hematite. Sample C13 is a mylonite that is very hematized. Samples C1, C2 and C6 are essentially metasomatic "albitites" and composed of albite and hematite. The most extreme examples of mineralization consist of disrupted breccias that are cemented by smoky quartz, chlorite, carbonate, hematite, or occasionally by zircon (C5 & C9). Sample AN1 is highly sheared with chlorite-rich mylonitic zones showing fluxion banding and cataclasis. These wrap around other lozenge-shaped rock fragments.
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"There is no evidence of injection of late igneous phases such as aplite, syenite, or pegmatite. The petrological descriptions suggest that uranium has been introduced through a hydrothermal event along zones of structural weakness."
Electron microprobe study of selected samples was also completed by Dr. Barron. He examined six polished thin sections using energy dispersive spectra in backscatter mode on a JEOL 733 electron microprobe at the facilities of Barnett Geological Consulting, London, Ontario. Only a limited amount of machine time was available to examine the sections and a more comprehensive study was recommended to be done in future. Mineralized samples contained uranium-bearing phosphate and a Ti-rich discrete euhedral mineral tentatively identified as brannerite. The replacive nature of K-spar by albite was confirmed by microprobe. Hematite was identified as a ubiquitous mineral.
In the second quarter of 2007, the surface grid lines having been cut totalled 440.7 line km in the Aricheng area. The east-west lines were cut at 100 m spacing, with 50 m spaced infill lines at Aricheng North and Aricheng South. Ground radiometric and magnetometer surveys were done on this surface grid and the results interpreted by Dr. Allen Spector.
A second suite of samples was submitted for petrographic study, and a report by J.F. Harris was completed in December, 2007. A suite of six core samples, from Aricheng North holes ARN-002, 003 & 004, were submitted, with a request for petrographic descriptions with special reference to uranium mineralization. Uranium was found to occur principally as brannerite (the U-Ti oxide) and as unnamed U-Si minerals (LeCouteur, 2007). They typically occur in close association with the more or less abundant hematite.
A third suite of samples was submitted for petrographic study, and a report by J.F. Harris was completed in April, 2008. The sample suite consisted of 24 drill core samples from three drill holes, two holes from Aricheng South (ARS-001 & ARS-002) and one hole from Aricheng North (ARN-013). All samples from this suite show similar lithology, consisting of albitite within dominant quartz monzonite (or monzonite in the case of ARN-013). These commonly show varied degrees of cataclastic modification, in the form of brecciation, interstitial microgranulation, and networks of microfracturing. These features appear to represent a controlling factor on the distribution of the carbonate and chlorite which – in varied relative proportions – are more or less abundant accessory constituents in all the albitite samples.
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Minor proportions of fine-grained disseminated hematite and associated Ti-rich (sometimes uraniferous) phases occur closely associated with the carbonate and/or chlorite. The composition of the carbonate in five examples of the albitite lithotype was checked by XRD, and in all cases the only carbonate species proved to be calcite. The nature of the uranium mineralization in the present suite was investigated by SEM/EDX microanalysis of selected samples. This work was done on the three polished thin sections (one from each drill hole) corresponding to the off-cut blocks of albitite yielding the highest scintillometer count readings (i.e. samples 4, 8 and 20). Results were presented in a report by P.C. LeCouteur of Micron Geological Ltd. No radioactive minerals could be found in Sample 4. Sample 8 was found to contain U in the form of Fe-U silicates, as brannerite, and as low levels in zircon. Sample 8 was found to contain relatively abundant brannerite. These results closely match those obtained by similar work on samples from ARN-003 (Harris, December 2007).
A VLF survey was completed at Aricheng South during the second quarter of 2008. A total of 27.5 line km were surveyed on a 50 m spaced north-south oriented grid. The data received for the three frequencies were cleaned and filtered using the programs IXVLF and KHFFILT to produce both plan maps of gridded data, and to produce pseudo sections. The frequencies used to acquire data were the following: Frequency 1–23.4 kHz – Lualualei, Hawaii; Frequency 2-24.0 kHz – Cutler, Maine; Frequency 3–15.1 kHz – Le Blanc, France. Frequencies 1 and 2 produced the most useful results. In particular, the Fraser filtered quadrature component of both frequencies identified conductive zones that correlated closely with the known location of the principal fault structure intersected by drilling at Aricheng South. Pseudosections were also produced using the Karous-Hjelt method using the quadrature component of frequencies 1 and 2. In both methods of data analysis, frequency 1 produced results that best fit the Aricheng South mineralization. Figure 11 shows the gridded frequency 1 Fraser filtered quadrature data. The sign conventions are not implicit in VLF measurements so the color scheme adopted is red for conductive areas and blue for resistive areas. It is assumed that the mineralization at Aricheng South, hosted by a fractured/brecciated zone, is conductive. The structural interpretation shown in Figure 12 was performed by utilizing data from all three frequencies and both the in-phase and quadrature channels of the VLF data.
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Figure 11. VLF frequency 1 Fraser Filter quadrature data – Aricheng South
Figure 12. Detailed map VLF structural interpretation of Aricheng South with contoured cps and mineralized surface projection
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Depending on the orientation of the VLF station to the grid line direction, the individual frequencies will highlight structures of a certain orientation. There are two main conductive zones in the gridded area; an east-west trending zone associated with the Aricheng South mineralization and a northeast trending zone in the northwestern corner of the survey. The northeast trending zone corresponds to a strong magnetic anomaly. Mineralization at Aricheng South occurs on the northern margin of east-west trending conductive zone. Based on the VLF data, the structural interpretation, and the ground scintillometer data, there is excellent potential along strike of the main Aricheng South mineralization both to the west and east (Figure 13). Cogema encountered broad zones of albitization and moderate uranium mineralization in drill holes located approximately 100 m to the northwest of the main mineralized zone at Aricheng South in the area where there is a set of northwest trending structures and +300 cps ground scintillometer values. The northern edge of the east-west structurally bound conductive zone is also very prospective. The lack of high scintillometer values in this area may be due to the plunge of mineralization in this area or alluvial cover. To the east of the main mineralized zone, the northern, structurally controlled edge of the conductive zone is also highly prospective.
Figure 13. Detailed map (as above) with frequency 1 Fraser Filter quadrature data
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U3O8 Corp. has, to date, drilled seven structures, which were identified by Cogema (now Areva) in the early 1980s. The objective of U3O8 Corp’s exploration of the mineralized structures in the Kurupung Batholith has been to develop targets that could be sequentially advanced to resource estimation. Aricheng North and Aricheng South are the most advanced in the exploration process. Resource estimates were based on 92 drill holes in Aricheng North (15,451 m) and 93 drill holes in Aricheng South (17,355 m). The current status is that infill drilling has been completed on approximately 25 m centres on the Aricheng South structures. Aricheng North drilling was done at roughly 50 m centres, although some infill drilling will be done to better define and constrain the mineralized shoots identified at 50 m spacing.
The Aricheng South drill hole location map is shown in Figure 14. All drill collars and hole traces are shown projected to surface. The contoured data (cps) from the ground radiometrics is also presented.
The longitudinal cross section for Aricheng South is presented in Figure 15. A provisional long section of the principal structure at Aricheng South shows the distribution of grade- thickness values (the product of the width of the mineralized interval and its U3O8 grade in %) on a vertical projection of the structure. The coloured circles demarcate the pierce points on the structure. (A pierce point is the approximate location at which each bore hole intersects the structure). The contoured values on the longitudinal section indicate that there is good potential to expand the resource in the down dip direction as well as along strike.
Geological mapping at 1:2,000 scale has been completed in the Aricheng South target area. The results indicate a broad east-west trending zone intersected by several north-east trending structures associated with radiometric anomalies. Anomaly C was interpreted as a narrow shear trending 060 degrees.
The Aricheng North drill hole location map is shown in Figure 16. A provisional long section (Figure 17) of the principal structure at Aricheng North shows the distribution of grade- thickness values on a vertical projection of the structure. The coloured circles demarcate the pierce points on the structure. The contoured values on the longitudinal section indicate that there is good potential to expand the resource in the down dip direction in the southern extension, the southern area and the northern area. There appears to be additional potential in the strike extension of the resource to the southwest and to the northeast.
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Figure 14. Aricheng South Drill hole Location Map
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Figure 15. Aricheng South Longitudinal Section with contoured grade x thickness data
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Diamond drilling has delineated three mineralized shoots that are distributed at fairly regular intervals along the northeast striking structure at Aricheng North. The southern shoot has a strike length of 130 m with an estimated true width of 4.2 m. The northern shoot has a strike length of 105 m and an estimated average width of 5.3 m. These areas are open along strike and at depth.
Drill sections were initially interpreted by U3O8 Corp. geologists and presented at 1:1,000 scale. A mineralized shell grading greater than 0.03% U3O8 was produced. The grade shell allowed for a maximum of one metre of internal dilution. The correlation of the albite and hematite alteration envelopes with mineralization was used as a guide during the interpretation. The host rock is generally albititized and hematized, porphyritic monzonite or quartz monzonite. A footwall mylonite zone has been defined and late diabase dikes are in evidence.
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Figure 16. Aricheng North Drill hole Location Map
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Figure 17. Aricheng North Longitudinal Section with contoured grade x thickness data
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11. EXPLORATION METHOD AND APPROACH
Preliminary exploration by U3O8 Corp. has consisted primarily of confirmatory work at some of the more advanced, historical prospects in the Kurupung Batholith. This work has included rock chip sampling, sampling of discarded drill core, thin section and polished section work, electron microprobe examination of mineralized samples, an extensive radiometric and magnetic airborne survey over most of the basement rocks in Permit areas A and B. Targets areas have been covered by ground scintillometer surveys and these areas have been mapped for geology, alteration and structure.
It was concluded that the project had exceptional potential to host economic, unconformity and sub-unconformity uranium deposits; and was of sufficient merit to warrant at least two phases of exploration. Initial exploration was proposed to confirm the extent and grade of uranium mineralization at the Aricheng Prospect, in the Kurupung Batholith. Exploration was to include gridding, trenching, ground radiometric and magnetometer surveys, and an initial 2,000 m of core drilling. The second phase program was to involve broadened geophysical coverage, along with a regional geological, geochemical and geophysical evaluation within other parts of the Prometheus Project.
U3O8 Corp. has, to date, drilled seven structures, which were identified by Cogema (now Areva) in the early 1980s. The objective of the exploration of the mineralized structures in the Kurupung Batholith has been to develop targets that could be sequentially advanced to resource estimation.
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12. SAMPLE PREPARATION, ANALYSIS AND SECURITY
12.1 U3O8 CORP./PROMETHEUS RESOURCES (GUYANA) INC. DIAMOND DRILL PROGRAM, SAMPLE PREPARATION
Drill Site Drill core is NQ diameter and is delivered in plastic core boxes to the sample preparation area.
On Site Sample Preparation The drill core is first measured in one metre intervals, and checked against run markers supplied by the drill crew. Recovery is consistently very good. Core boxes are then labelled for start and end of the box with each box numbered sequentially. Core is then logged by metre for a scintillometer reading. An average of four readings per metre is recorded. A geologist then logs the core for composition, alteration and degree of fracturing. Each box of core is then photographed.
Samples to be cut are then marked off in 50 cm intervals, and assigned a sample number. Samples are cut with a diamond saw and sealed in plastic bags for shipment. A standard sample is inserted in the sequence at approximately one in every 25 samples and a blank sample at approximately every 25 samples. The count to the next standard is started after each blank. All samples are weighed prior to packing for shipment.
12.2 WGM PREPARATION LAB REVIEW AND QAQC PROGRAM REVIEW
ACME Analytical Laboratories Ltd. provided the following description of the sample preparation protocol during an on-site tour of the facility by WGM.
Drill core and rock samples are received, sorted by number, listed in excel table format and weighed electronically. Samples are then placed in stainless steel pans on a trolley to be dried in the oven. Oven register records the drying time. Specific types of samples have variable drying times and temperatures. Drill core is dried for three to four hours.
Samples are then crushed to a minimum of 85% -10 mesh. The process involves a primary jaw crusher that reduces the particle size to ¾ inch. Two secondary crushers further reduce
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the size to less than two millimetres. Compressed air is used to clean each machine after every sample. Quartz is crushed after every tenth sample to clean the crushers and reduce the possibility of contamination. 3% of the batch of samples is tested to ensure that they meet the specification of 85% being finer than two millimetres (10 mesh). The samples were not homogenized prior to be sent to the riffle splitter.
The 10 mesh material is returned to the sample bag and is riffle split four times. The final sample weighs 250 grams ±10 grams. The splitter is designated as ISO certified. The spacing of the slots in the splitter was measured and found to be 11 mm.
The sample is then sent to the LM2 pulverizer, where each sample is processed for two minutes of run time. The sample is then dumped onto bar-coded brown kraft paper and 20 g scoop of the pulp is extracted with a spatula. There was not any further homogenization of the sample at this point.
Samples are then placed on the shipping rack and sample numbers verified. A second verification takes place in the shipping area. Kraft bags are packaged in plastic and vented for the shipping process. The packages are gC inspected and sealed by customs in plastic pails. The pails are then shipped to the ACME analytical lab in Vancouver. The shipping time is estimated at 5 days, with a maximum of two days expected for processing. The turn-around time for assay in Vancouver is variable, although two weeks is standard.
Pulp rejects are stored long term at the preparation lab warehouse in Georgetown. Thirty-six samples are stored in each box. The boxes are labelled with date, client name, and job number. An inventory sheet is placed inside each box. The storage information is documented in ACME's register. Boxes are placed on pallets and on racks in the warehouse.
U3O8 Corp’s QAQC program involves the insertion of certified standards purchased from the Canadian Centre for Mineral and Energy Technology (CANMET), the use of blanks and pulp duplicates. Quarter core duplicates were initially used in the QAQC program but this was discontinued after assays of duplicate quarter core were found to differ due to heterogeneity of the mineralization to the extent that they were not helpful in assessing the quality of the assay data.
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Standards Certified standards were not used with core samples from the initial 21 bore holes drilled at Aricheng South (ARS-001 to ARS-021) and the first 27 holes drilled at Aricheng North (ARN-001 to ARN-027). Although core samples from these initial holes were submitted with field blanks, ¼-core duplicates and pulp duplicates, there was no way of verifying the accuracy of the reported analyses and the need for reanalysis with standards was recognized. One option was to reanalyze all of the samples with standards inserted at an appropriate frequency at considerable cost. A more cost-effective compromise was to select a suite of samples with a wide range of reported values for repeat analysis in a batch with certified standards inserted at an appropriately high frequency by U3O8 Corp. personnel. 254 samples from a total of 2,769 (9.2%) samples from these initial bore holes were selected for duplicate analysis with 48 inserted standards i.e. an average frequency of one standard per 5.3 samples. The objective of this exercise was to validate the assays from these early bore holes by providing duplicate assay data for a range of samples whose values were validated by the acceptable analysis of inserted standards.
Standards were routinely inserted at an average of 1 in 25 samples in holes drilled after this initial phase of drilling.
A total of 563 standard assays were undertaken with core samples from Aricheng North and Aricheng South. 21.6% of assays for Standard BL-4a were within ±3 standard deviations of the accepted value for the standard. The average reported value of BL-4a (1,208 ppm) shows a slightly low bias (3.2% lower than the expected grade of 1,248 ppm). ACME Analytical Laboratories (Vancouver) Ltd. has stated that its 1EX analytical method is for exploration use and is only accurate to plus or minus 15% for uranium. Therefore internal procedure was to accept values for the standards within 15% of the recommended value, as opposed to plus or minus three standard deviations. Assay results for standards outside of the recommended acceptability grade (±15%) totalled 17 cases for all standards used at both Aricheng North and Aricheng South. Standard failures resulted in reassay of a sample string from the sample after the last acceptable standard or blank, through the failed standard, to the sample prior to the next acceptable standard or blank.
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Sample Blanks The objective of inserting coarse blank material in the sample sequences delivered to the ACME laboratory in Guyana for preparation is to check for possible contamination and inadvertent sample switching in the preparation phase. Material for a coarse field blank was prepared from a pebbly quartzite with a radiometric signature of 50 counts per second from the Roraima Formation.
A total of 357 blanks were inserted in sample sequences from drilling at Aricheng South and 201 from Aricheng North. Analyses from the blanks confirm its low uranium grade (Average 1.8 ppm U) and, on the basis of the results received to date, acceptable assay limits for the blank were arbitrarily set at 20 ppm. There were four blank failures and these resulted in reassay of a sample string from the sample after the last acceptable standard or blank, through the failed blank, to the sample prior to the next acceptable standard or blank.
In the case of blank failures, only the values of the samples associated with the accepted reanalyzed blank are carried to the “accepted assay” column of the database. The value of the original assay associated with the failed standard is not averaged with the value obtained with the repeat analysis in which the value obtained for the standard passed.
Pulp Duplicates A total of 529 pairs of duplicates were analyzed in relation to samples from Aricheng North and Aricheng South. These duplicates were prepared by splitting a single pulverized sample and hence share a single sample number. Pulp duplicates were considered QAQC failures if their assays differed by >15%. Pulp duplicate failures resulted in reassay of a sample string from the sample after the last acceptable standard or blank, through the failed blank, to the sample prior to the next acceptable standard or blank.
Over-Limit Assays Over-limit samples (≥4,000 ppm) were routinely assayed using ACME’s method 7TD which is an ICP-ES technique after 4-acid digestion. However, given the occurrence of significant quantities of zircon in some samples from the Kurupung Batholith, and the interference of Zr with the U peak in ICP analysis, over-limit samples were re-assayed using ACME’S 7TX method, which is includes ICP-MS analysis to circumvent the interference of Zr with the U peak.
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13. DATA VERIFICATION
13.1 WGM CHECK SAMPLING PROGRAM
The technical report requires check programs be conducted to satisfy due diligence protocols. Therefore the sample preparation lab located in Georgetown and on site geologists were asked to provide a description of QAQC procedures. WGM completed a check sampling of drill core from Aricheng North and Aricheng South, and resurveyed several drill collars from each area.
A suite of 23 samples from drill core with a QAQC standard and blank have been submitted for check analysis for each of the two deposit areas. Drill core was cut by saw into quarter core on site and sealed in plastic bags. These samples were transported by WGM to the sample preparation lab in Georgetown.
These samples are listed in the accompanying tables provided as Appendix 1 to this report. The original sample number assigned by Prometheus and the new sample number assigned by WGM are included, since protocol required that these samples locations were not made available to U3O8 Corp. until after the re-assayed results were received.
13.2 WGM CHECK SURVEYING PROGRAM
A check surveying program was conducted using a hand held Garmin GPS unit. A total of 10 collars were re-surveyed at Aricheng South and 12 collars at Aricheng North. These results are listed in the accompanying tables provided as an appendix to this report. GPS co-ordinates compare very well, and most are within 1-2 m in easting and northing. The elevations are obviously not accurate using the handheld GPS, and the values were not recorded.
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14. ADJACENT PROPERTIES
Many alluvial gold and diamond mining properties lie with and adjacent to, Permits A and B. None of these have known resources or reserves and none contain significant uranium mineralization.
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15. MINERAL PROCESSING AND METALLURGICAL TESTING
No mineral processing or metallurgical testing has been conducted by U3O8 Corp. on any of the samples from the projects areas.
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16. MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES
16.1 GENERAL
WGM has prepared Mineral Resource estimates for the Aricheng North and Aricheng South deposits based on diamond drilling programs carried out between 2007 to 2008, the results of which are summarized below, and described in greater detail in this section. The estimates
were prepared from a block model using a 0.05% U3O8 cut-off grade. Assay grades in
Aricheng North were also capped at 1.3% U3O8 to account for a handful of high grade anomalies (above the 99th percentile of the composite population). There were no anomalous high grade assays above this cap in Aricheng South.
The Mineral Resource estimates were prepared in strict compliance with the provisions of NI 43-101 guidelines and CIM standards and guidelines for the estimation of Mineral Resources and Mineral Reserves.
For the purposes of this report, the relevant definitions for the CIM Standards are as follows:
A "Mineral Resource" is a concentration or occurrence of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge.
An "Inferred Mineral Resource" is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.
An "Indicated Mineral Resource" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.
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A "Measured Mineral Resource" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.
TABLE 2. ARICHENG NORTH AND ARICHENG SOUTH MINERAL RESOURCES (using 0.05 % U3O8 cut-off, and 1.3% high grade cap)
Classification of Mineral Resources Tonnes % U3O8 U3O8 lbs Aricheng South Indicated 1,895,004 0.09 3,718,203 Inferred 421,685 0.09 820,136 Aricheng North Indicated 781,519 0.12 2,096,298 Inferred 223,484 0.11 517,691
Total Aricheng North and Aricheng South Indicated 2,676,523 0.10 5,814,500 Inferred 645,169 0.09 1,337,827
16.2 GENERAL MINERAL RESOURCE ESTIMATION PROCEDURES
The Mineral Resource estimate procedures consisted of:
• Database compilation and verification; • Statistical analysis; and • Generation of separate block models for Mineral Resource estimates of the Aricheng North and Aricheng South deposits, using a geostatistical approach applying the Inverse Distance Squared ("ID2") method.
16.3 DATABASE
16.3.1 GENERAL
The data used to generate the Mineral Resource estimates originated from Microsoft Excel files containing drill hole collar, survey, assay, lithological, and mineralization information. The Aricheng North drill hole database consisted of 92 collar locations in the UTM co- ordinate system, geological descriptions and codes, and 5,980 assay intervals (%U3O8). The Aricheng South drill hole database consisted of 93 collar locations in the same co-ordinate system, geological descriptions and codes, and 9,792 assay intervals (%U3O8). The geological
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interpretations and outlines of the mineralized zones in each deposit were supplied as AutoCAD files. The data were provided to WGM in digital form by U3O8 Corp.
In Aricheng North, thirty-two north-east looking cross-sections (with 26 m spacing) were generated by WGM to coincide with the sections interpreted by U3O8 Corp. In Aricheng South, seventeen south-east looking cross-sections (with 25 m spacing) were generated. Seventeen level plans (with a 20 m vertical spacing) were also generated for verification purposes.
16.3.2 DATA VALIDATION
Upon receipt of the data, WGM performed the following validation steps checking for:
9 location and elevation discrepancies by comparing collar coordinates with the available cross-sections; 9 minimum and maximum values for each quality value field and confirming/modifying those outside of expected ranges; 9 inconsistency in lithological unit terminology and/or gaps in the lithological code; and, 9 gaps, overlaps and out of sequence intervals for both assays and lithology tables.
The database was in good order, and no errors were identified that would have a significant impact on the Mineral Resource estimate.
16.3.3 DATABASE MANAGEMENT
The drill hole data were stored in a Gemcom GEMS© software multi-tabled workspace specifically designed to manage collar and interval data. Other data, such as surface contours or cross-sectional geological interpretations, were stored in multi-tabled polyline workspaces. The project database also stored section and level plan definitions, 3-D surfaces and solids, as well as the block models, such that all data pertaining to the project are stored within the same project database. A copy of the GEMS project data is stored on WGM’s servers in Toronto.
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16.4 GEOLOGICAL MODELLING PROCEDURES
In general, the modelling procedures were as follows:
• Digitizing mineralized outlined based on U3O8 Corp’s grade shell interpretations; • 3-D surface (TIN) and solid/wireframe creation; • Database manipulation and assay compositing; • Statistical analyses; • Block grade estimation; and, • Classification and reporting of Mineral Resources.
16.4.1 GEOLOGICAL INTERPRETATION AND DIGITIZING
Section Definition For both Aricheng North and Aricheng South, the vertical sections were defined by WGM to coincide with the U3O8 Corp. vertical sections. In Aricheng South, vertical sections strike approximately 29° (looking south-east), and 140° (looking north-east) in Aricheng North.
Figures 16 and 17 shows the drill hole plan (collars only) as extracted from Gemcom, and the section locations.
Geological Interpretation In both Aricheng North and Aricheng South, the bulk of the mineralization occurs below the saprolite horizon, disseminated within the granite (refer to Section 9 – Mineralization, for a more detailed description). Due to the complexity and sporadic nature of the mineralization, it was determined that a numerical modelling approach would be a more appropriate means to defining the mineral resource, than to define it within the hard boundaries of a 3D geological solid wireframe. In its place, both a hanging wall and footwall surface wireframe were defined based on the upper and lower limits of the mineralization, respectively, in order to constrain the numerical model. The cross-sectional interpretations of the hang wall and footwall were digitized into a GEMS© polyline workspace, from which a 3D solid wireframe was generated. The location of these two surfaces on vertical cross sections in Aricheng North and Aricheng South are illustrated in Section 16.7.
Topographic and Saprolite Surface A topographic surface or triangulated irregular network ("TIN") was created for both Aricheng North and Aricheng South using drill hole collar elevations surveyed for the Aricheng diamond drills. In addition, a second surface representing the bottom of the saprolite
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layer was generated based on log data in the drill hole database. The Mineral Resource estimate was constrained below this surface.
16.5 DATABASE PREPARATION, STATISTICAL ANALYSIS AND ASSAY COMPOSITING
16.5.1 PREPARATION OF ASSAY COMPOSITES AND GRADE CAPPING
In order to carry out geostatistical analysis of the assay database for the Mineral Resource block modelling, equal length sample lengths were extracted from the drill hole database. Since all assays were sampled at 0.5 equal lengths, these intervals were composited at the same interval length and used for the analysis. Basic statistics were run on the 5,950 assay composites in Aricheng North, which indicated outlier samples beyond the 99th percentile of the sample population had U3O8 grades greater than 1.3%. In Aricheng South, statistics were run on all 9,792 assay samples, in which there were no anomalous outlier samples above this grade. Table 3 shows basic statistics of the original (uncapped) samples in the area of both deposits.
TABLE 3. BASIC STATISTICS OF RAW U3O8 CORP. ASSAYS Minimum Maximum Mean C.O.V.* Deposit # Samples % U3O8 % U3O8 % U3O8 Aricheng North 5,950 0 6.16 0.04 3.37 Aricheng South 9,792 0 1.29 0.04 1.59 * Coefficient of Variation
Figures 18 and 19 illustrate log normal probability plots of uncapped assay samples in each of the two deposits.
16.5.3 VARIOGRAPHY
In order to measure the continuity of the mineralization, WGM attempted to calculate variograms for both Aricheng North and Aricheng South in the three principal orientations of the deposit: along strike, down dip and vertically, using U3O8 assay composites. Although satisfactory results were not achieved due to low sample population, the resulting variograms did help in the selection of reasonable search ellipse ranges for the various Mineral Resource categories. The drill hole spacing was another important consideration in this regard.
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LOG Normal Probability Plot ARN Raw Assays (0.5m intervals)
100.00
99.74
91.28
50.00
Probability 8.72
0.26
0.010 0.100 1.000 10.000 Real Value Software By Gemcom
Figure 18. LOG Normal Probability Plot of Aricheng North Assays
LOG Normal Probability Plot ARS Raw Assay (0.5m intervals)
100.00
99.74
91.28
50.00
Probability 8.72
0.26
0.010 0.100 1.000 10.000 Real Value Software By Gemcom
Figure 19. LOG Normal Probability Plot of Aricheng South Assays
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16.6 MINERAL RESOURCE BLOCK MODELLING
16.6.1 GENERAL
The Mineral Resources were estimated using the Inverse Distance Squared ("ID2") estimation technique. The "inverse distance" technique belongs to a distance-weighted interpolation class of methods, similar to Kriging, where the grade of a block is interpolated from several composites within a defined distance range of that block. This estimation procedure uses the inverse of the distance between a composite and the block as the weighting factor.
All assay results returned from the lab were expressed in uranium(ppm). For the purposes of this Mineral Resource estimate, WGM converted these values into % U3O8 using the following formula: -3 % U3O8 =U(ppm) * 1.179 * 10
16.6.2 BLOCK MODEL GRID PARAMETERS
Both Mineral Resources have been estimated in a grid of regular blocks. The block model grids cover the entire Aricheng Project area and is shown in Table 4. The Aricheng North block model is rotated 52° counter-clockwise around the origin to allow it to conform to the project baseline and sectional orientation.
TABLE 4. ARICHENG PROJECT BLOCK MODEL GRID PARAMETERS Model Origin Grid Model Dimension Block Dimension Aricheng North X 804,470 E Rows 200 Row width 2.5 m Y 691,680 N Columns 200 Column width 5 m Z 150 Levels 70 Level height 5 m Orientation 52° counter-clockwise
Aricheng South X 806,300 E Rows 180 Row width 2.5 m Y 688,400 N Columns 120 Column width 5 m Z 120 Levels 65 Level height 5 m Orientation No rotation
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16.6.3 GRADE INTERPOLATION
WGM used results from variography and examinations of overall drill hole spacing (averaging between 25 to 26 m from section to section) to determine appropriate search ellipse ranges for the various Mineral Resource categories.
The search parameters and criteria for categorization are as follows:
Aricheng North Indicated Mineral Resources Inferred Mineral Resources Search Ellipsoid Dimension 25 m East-West 50 m East-West 35 m North-South 70 m North-South 2 m Vertical 2 m Vertical Search Ellipsoid Rotation ZYZ: – 90°, -75°, 0° ZYZ: – 90°, -75°, 0° ZYZ: – 90°, -20°, 0° ZYZ: – 90°, -20°, 0° Min # samples used to estimate a block grade 5 5 Max # samples used to estimate a block grade 12 12 Max # samples from a single hole 4 4
Aricheng South Indicated Mineral Resources Inferred Mineral Resources Search Ellipsoid Dimension 25 m East-West 50 m East-West 35 m North-South 70 m North-South 2 m Vertical 2 m Vertical Search Ellipsoid Rotation ZYZ: – 101°, -35°, 0° ZYZ: – 101°, -35°, 0° ZYZ: – 101°, -64°, 0° ZYZ: – 101°, -64°, 0° Min # samples used to estimate a block grade 5 5 Max # samples used to estimate a block grade 12 12 Max # samples from a single hole 4 4
16.6.4 CUTOFF GRADE AND SPECIFIC GRAVITY
The overall cut-off grade of 0.05% U3O8 was chosen based on a preliminary review of the parameters that would likely determine the economic viability of surface mining operation at Aricheng North and Aricheng South. Table 5 illustrates the sensitivity of each Mineral Resource estimate to cutoff grades.
U3O8 Corp. performed specific gravity ("SG") tests on 19 mineralized samples in the Aricheng North database, and on 20 mineralized samples in the Aricheng South database. SG was determined by weighing 7 to 8 cm lengths of dry core (weight in air), and dividing the results over the combined weight of the same core submerged in a water-filled beaker (weight in water). The results returned average SG values of 2.78 and 2.70 for Aricheng North and Aricheng South, respectively. WGM used these same SG values to derive mass from the block volumes for the two zones.
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TABLE 5. ARICHENG NORTH AND ARICHENG SOUTH MINERAL RESOURCES SHOWING SENSITIVITY TO CUT-OFF GRADE Aricheng South (capped at 1.3 %U3O8) Indicated Resource Inferred Resource Cut-off grade Tonnes Grade U3O8%U3O8 lbs Tonnes Grade U3O8%U3O8 lbs U3O8% 0.03 3,297,397 0.07 4,925,355 732,722 0.07 1,085,198 0.04 2,496,215 0.08 4,310,399 540,725 0.08 937,230 0.05 1,895,004 0.09 3,718,203 421,685 0.09 820,136 0.06 1,428,162 0.10 3,155,765 336,111 0.10 716,786 0.07 1,089,924 0.11 2,672,743 253,644 0.11 599,032 0.08 836,865 0.12 2,255,112 198,925 0.12 509,061 0.09 653,459 0.13 1,912,089 153,048 0.13 422,963 0.1 502,638 0.14 1,596,432 117,053 0.13 347,714
Aricheng North (capped at 1.3 %U3O8) Indicated Resource Inferred Resource Cut-off grade Tonnes Grade U3O8%U3O8 lbs Tonnes Grade U3O8%U3O8 lbs U3O8% 0.03 1,234,517 0.09 2,484,557 486,521 0.07 741,856 0.04 970,351 0.11 2,282,078 328,776 0.09 621,452 0.05 781,519 0.12 2,096,298 223,484 0.11 517,691 0.06 642,311 0.14 1,928,048 172,122 0.12 456,127 0.07 532,952 0.15 1,772,062 136,773 0.13 405,591 0.08 446,711 0.17 1,630,035 111,246 0.15 363,431 0.09 382,457 0.18 1,510,004 92,644 0.16 328,786 0.10 330,951 0.19 1,402,481 76,312 0.18 294,889
Total Aricheng North and Aricheng South Indicated Resource Inferred Resource Cut-off grade Tonnes Grade U3O8%U3O8 lbs Tonnes Grade U3O8%U3O8 lbs U3O8% 0.03 4,531,914 0.07 7,409,912 1,219,243 0.07 1,827,054 0.04 3,466,566 0.09 6,592,477 869,501 0.08 1,558,683 0.05 2,676,523 0.10 5,814,500 645,169 0.09 1,337,827 0.06 2,070,472 0.11 5,083,813 508,233 0.10 1,172,913 0.07 1,622,876 0.12 4,444,805 390,417 0.12 1,004,623 0.08 1,283,577 0.14 3,885,147 310,171 0.13 872,493 0.09 1,035,916 0.15 3,422,093 245,692 0.14 751,749 0.10 833,589 0.16 2,998,913 193,365 0.15 642,603
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16.7 MINERAL RESOURCE CLASSIFICATION AND TABULATION
WGM classified the Aricheng North and Aricheng South Mineral Resource estimates as Indicated and Inferred Resources. Table 5 summarizes the Aricheng North and Aricheng South Mineral Resources below the saprolite horizon.
Two interpolation passes were used to establish grade and resource categories. The largest search ellipse (70 m parallel to strike, 50 m down dip, and two metres in height) was used to categorize Inferred Resources, and a smaller search ellipse (35 m parallel to strike, 25 m down dip, and two metres in height) was used for Indicated Resources. In both cases, samples used for the grade interpolation must have been derived from a minimum of two drill holes to establish geological continuity. The number of samples used from a single drill hole was also limited to four.
To mitigate the influence of drill hole assays from distant adjacent sections, blocks whose closest sample was greater than 22 metres were ignored. A further filter was applied to ignore single blocks with no other neighbouring blocks within a single block radius.
To verify the block interpolation parameters, assay intervals in both Aricheng North and
Aricheng South were composited at a 0.03% U3O8 cut-off (2 m minimum length) and results visually compared with block grades on both vertical cross sections and plan views. This comparison confirmed the continuity of grade both along strike, and down dip as illustrated in Figures 20 and 21.
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Figure 20. Mineral Resource Blocks on Section ARN15 showing % U3O8 grades
Figure 21. Mineral Resource Blocks on Section ARSW10 showing % U3O8 grades
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17. OTHER RELEVANT DATA AND INFORMATION
There is no other relevant data or information to report at this time.
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18. INTERPRETATION AND CONCLUSIONS
Based on our review of the available information, WGM concludes the following:
• Both Aricheng North and Aricheng South appear open at depth and along strike, suggesting that additional diamond drilling on both deposits may expand the current Mineral Resource;
• Plans and sections through the current block model display a reasonably continuous
distribution of U3O8 grades based on drill intersections;
• Indicated Mineral Resources (Table 6) total 2.68 million tonnes grading 0.10 % U3O8 with
a contained 5.81 million lbs U3O8:
TABLE 6. ARICHENG NORTH AND ARICHENG SOUTH MINERAL RESOURCE ESTIMATE (using 0.05 % U3O8 cut-off, and 1.3 % U3O8 high grade cap)
Classification of Mineral Resources Tonnes % U3O8 U3O8 lbs Aricheng South Indicated 1,895,004 0.09 3,718,203 Inferred 421,685 0.09 820,136 Aricheng North Indicated 781,519 0.12 2,096,298 Inferred 223,484 0.11 517,691
Total Aricheng North and Aricheng South Indicated 2,676,523 0.10 5,814,500 Inferred 645,169 0.09 1,337,827
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19. RECOMMENDATIONS
WGM offers the following recommendations:
• Both the Aricheng North and Aricheng South deposits appear open at depth and along strike. WGM recommends continued diamond drilling at the current spacing on sections and across sections, of both deposits with the intent of possibly expanding the Mineral Resource, and converting a portion of the Inferred category into the Indicated category;
• The up-dip extension of the mineralization in the saprolite remains untested in both Aricheng North and Aricheng South deposits. Since the Mineral Resource estimate does not include any material in the saprolite, surface channel sampling of trenches in the areas where mineralization can be extrapolated to surface is suggested in both deposits. Immediate surveying of all sample intervals should accompany the sampling program. The proposed trenching program is recommended to take place in the dry season. Additional sites for the proposed trenches would include areas where the saprolite layer is thinnest and mineralization near surface exhibits above average grade. Examples of such sites (at Aricheng North) include the up dip extension of the mineralization between drill holes ARN-026 and ARN-024 (between section ARN-26 and 25), and between drill holes ARN-037 and ARN-014,015 (between section ARN-16 and 15). Examples of such sites (at Aricheng South) include the up dip extension of the mineralization between drill holes ARS-012 and ARS-057 (between section ARSW-07 and 06). An area (at Aricheng North) where the saprolite is thicker but above average grade exists near surface is between drill holes ARN-021 and ARN-019 (between section ARN-23 and 22). Attention to relative cost of trenching versus shallow drill holes is recommended, especially at Aricheng South where the mineralized zone is wider and the saprolite is thicker;
• If sampling of saprolite proves the up-dip extension of the mineralization, then an expanded trenching program with closer spacing should be considered;
• The current QAQC program should be maintained. This program should continue to monitor all analytical results from bedrock and core samples used in any addition to the Mineral Resource on the property;
• Mineral Processing and Metallurgical testing should be conducted on both deposits to estimate recovery characteristics of the ore;
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• WGM suggests that basic geotechnical studies be conducted on existing and any drill core to determine rock competencies in both deposits;
• WGM suggests that a preliminary mine plan, including an open pit optimization study be undertaken to determine the viability of surface extraction in both deposits. Both deposits exhibit continuous zones of reasonable thickness that would also be amenable to underground extraction techniques; and,
• WGM recommends that U3O8 Corp. conduct a proper topographic survey in order to produce an accurate representation of the surface feature over both deposits (within 2 m accuracy for aerial surveys is acceptable). The preliminary mine plan described above would likely rely on the results of such a study.
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CERTIFICATE
To Accompany the Report Entitled "A Technical Review of the Aricheng North and Aricheng South Uranium Deposits, in Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc." dated January 14, 2009
I, R. Brian Alexander, do hereby certify that:
1. I reside at 503-2759 Carousel Crescent, Ottawa, Ontario, Canada, K1T 2N5.
2. I am a graduate from University of New Brunswick in Fredericton, NB, Canada with a B.Sc. in Geological Science (1979), and I have practised my profession continuously since then for a total of 29 years in Canada and internationally. I worked exclusively on uranium exploration projects in the Athabasca Basin area of Saskatchewan and in the Thelon Basin of Nunavut, Canada during 1979-1982, and 1993-1996. In the period of 1999 to 2004, I provided QP services on gold projects in Nunavut.
3. I am a Practicing Member of the Association of Professional Engineers, Geologists and Geophysicists of the Northwest Territories and Nunavut (Number L1093).
4. I am a Senior Associate Geologist with Watts, Griffis and McOuat Limited, a firm of consulting geologists and engineers, which has been authorized to practice professional engineering by Professional Engineers Ontario since 1969, and professional geoscience by the Association of Professional Geoscientists of Ontario.
5. I have read the definition of "Qualified Person" in National Instrument 43-101 and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "Qualified Person" for the purposes of NI 43-101.
6. I am independent of the issuer applying all of the tests in section 1.5 of National Instrument 43-101.
7. I visited the Aricheng North and Aricheng South Project sites of U3O8 Corp./Prometheus Resources (Guyana) Inc. in western Guyana during the period September 5 to 10, 2008, during which I reviewed data, drill site locations, and drill core.
8. I have no personal knowledge as of the date of this certificate of any material fact or change which is not reflected in this report, and I have had no prior involvement with the properties discussed in this report.
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9. I am coauthor of this report and responsible for Sections 1 to 15, and 17 concerning the geology, mining history, and exploration proposal contained herein this report.
10. Neither I nor any affiliated entity of mine is at present under an agreement, arrangement or understanding, or expects to become an insider, associate, affiliated entity or employee of U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated entities.
11. Neither I nor any affiliated entity of mine, own, directly or indirectly, nor expect to receive any interest in the properties or securities of U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated companies.
12. Neither I nor any affiliated entity of mine, have earned the majority of our income during the preceding three years from U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated companies.
13. I have read NI 43-101 and Form 43-101F1 and have prepared the technical report in compliance with NI 43-101 and Form 43-101F1; and have prepared the report in conformity with generally accepted Canadian mining industry practice, and as of the date of the certificate, to the best of my knowledge, information and belief, the technical report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading.
signed by " R. Brian Alexander "
R. Brian Alexander, B.Sc. January 14, 2009
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CERTIFICATE
To Accompany the Report Entitled "A Technical Review of the Aricheng North and Aricheng South Uranium Deposits, in Western Guyana for U3O8 Corp. and Prometheus Resources (Guyana) Inc." dated January 14, 2009
I, Kurt Breede, do hereby certify that:
1. I reside at 76 Woodrow Avenue, Toronto, Ontario, M4C 1G7.
2. I graduated from the University of Toronto, Toronto, Ontario in 1996 with a B.A.Sc. in Geological and Mineral Engineering, and have been practicing my profession since 1996.
3. I am a Professional Engineer licensed by Professional Engineers Ontario (Registration Number 90501859).
4. I am a Director of Marketing and Technical Services with Watts, Griffis and McOuat Limited, a firm of consulting geologists and engineers, which has been authorized to practice professional engineering by Professional Engineers Ontario since 1969, and professional geoscience by the Association of Professional Geoscientists of Ontario.
5. I am a Qualified Person for the purposes of NI 43-101 with regard to a variety of mineral deposit types, with Mineral Reserve and Mineral Resource estimation parameters and procedures and with those involved in the preparation of technical studies.
6. I did not visit the Property.
7. I have no personal knowledge as of the date of this certificate of any material fact or change which is not reflected in this report.
8. I am responsible for Section 16 of the report.
9. Neither I nor any affiliated entity of mine is at present under an agreement, arrangement or understanding, or expects to become an insider, associate, affiliated entity or employee of U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated entities.
10. Neither I nor any affiliated entity of mine, own, directly or indirectly, nor expect to receive any interest in the properties or securities of U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated companies.
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11. Neither I nor any affiliated entity of mine, have earned the majority of our income during the preceding three years from U3O8 Corp./Prometheus Resources (Guyana) Inc., or any associated or affiliated companies.
12. I have read NI 43-101 and Form 43-101F1 and have prepared the technical report in compliance with NI 43-101 and Form 43-101F1; and have prepared the report in conformity with generally accepted Canadian mining industry practice, and as of the date of the certificate, to the best of my knowledge, information and belief, the technical report contains all scientific and technical information that is required to be disclosed to make the technical report not misleading.
signed by " Kurt Breede "
Kurt Breede, P.Eng. January 14, 2009
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REFERENCES
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Cogema, 1981 Study of the north-east Roraima border; General Survey, September- December 1980. Report No. 81-GY-02, 62 p. Unpublished company report, GGMC library.
Davis, C. 2006 Technical Report on the Prometheus Uranium Project; Co-operative Republic of Guyana; Mazaruni, Potaro, Cuyuni, & Rupununi Mining Districts; Permits A and B; prepared for U3O8 Corp.
Donnerstag, P. 1976 Uranium exploration in Precambrian (?) conglomerates in Guyana, South America. American Association of Petroleum Geologists 60:1397 (abstract).
Fayek, M., and Kyser, T.K. 1997 Characterization of multiple fluid flowevents and rare-earth-element mobility associated with formation of unconformity-type uranium deposits in the Athabasca basin, Saskatchewan: Canadian Mineralogist, v. 35, pp. 627–658.
Gibbs, A.K, Barron, C.N. 1993 The Geology of the Guiana Shield. Oxford University Press, New York
Guyana GoldFields Inc 2004 Prospectus dated January 29, 2004. http://www.sedar.com
Hoeve, J., and Quirt, D.H. 1987 A stationary redox front as a critical factoring the formation of high- grade, unconformity-type uranium ores in the Athabasca basin, Saskatchewan, Canada: Bulletin de Minéralogie, v. 110, pp.157-171.
Hoeve, J., and Sibbald, T. 1978 On the genesis of Rabbit Lake and other unconformity-type uranium deposits in northern Saskatchewan, Canada: Economic Geology 73, pp. 1450-1473.
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Hoeve, J., Sibbald, T.I.I., Ramaekers, P., Lewry, J.F. 1980 Athabasca Basin unconformity-type uranium deposits: a special class of sandstone-type deposits in Ferguson, J., Goleby, A.B. (eds., Uranium in the Pine Creek Geosyncline: International Atomic Energy Agency, Vienna), pp. 575-594.
International Atomic Energy Association 2003 Uranium 2003: Resources, production and demand. Nuclear Energy Agency, Vienna, 348 p.
Keats, W. 1973 The Roraima Formation in Guyana in 2nd Congresso Latinoamericana de Geologia, Caracas, Venezuela, Sociedad Venezolana de Geologos Publication Especial 7, pp. 901-940.
Kotzer, T. and Kyser, T.K. 1995 Fluid history of the Athabasca Basin and its relation to diagenesis, uranium mineralization and paleohydrology: Chemical Geology 120, pp. 45-89.
Mason, B. 1966 Principles of Geochemistry. New York, John Wiley & Sons, 329 p.
Miller, A.R. 2000 Comparison of the Paleoproterozoic uraniferous siliciclastic basins, Thelon and Athabasca basins, western Churchill Province, Canada to the Roraima Basin, Amazonian Craton/Guiana Shield South America. Brazil 2000; 31st International Geological Congress; abstracts volume Rio de Janeiro, Brazil.
Minter, W.E.L., Frimmel, H.E., Kirk, J., Vennemann, T. 2002 Society of America, 2002 annual meeting Abstracts with Programs – Geological Society of America, v. 34, no. 6, p. 517.
Poty, B., Leroy, J., Cathelineau, M., Cuney, M., Friedrich, M., Lespinasse, M.,Turpin, L. 1986 Uranium deposits spatially related to granites in the French part of the Hercynian Orogen, pp. 215-246 in Vein Type Uranium Deposits. International Atomic Energy Agency, Vienna.
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Quirt, D.H. 2003 Athabasca unconformity-type uranium deposits: onedeposit type with many variations) in Cuney, M., ed., Uranium Geochemistry 2003, International Conference, April 13-16 2003, Proceedings: Unité Mixte de Recherche CNRS 7566 G2R, Université Henri Poincaré, Nancy, France, pp. 309-312.
Reis, N.J., and Yanez, G. 2001 O Supergroup. Roraima ao longo da faixa fronteirica entre Brazil – Venezuela (Santa Elena del Uairen-Roraima Mountain), in Reis, N.J., and Monteiro, M.A.S., eds., Contribuiçao a geologia da Amazonia, Volume 2: Manaus, Brazil, Sociedade Brasiliera de Geologia, pp. 113-145.
Santos, J.O.S., Potter, P.E., Reis, N.J., Hartman, L.A., Fletcher, I.R., McNaughton, N.J. 2003 Age, source, and regional stratigraphy of the Roraima Supergroup and Roraima-like outliers in northern South America based on U-Pb geochronology. Geological Society of America Bulletin, 115, pp. 331-348.
Spector, A. (Unpublished report for U3O8 Corp.) 2006 Assessment of Preliminary Airborne Geophysical Data, Kurupung Area, Guyana.
Thomas, D.J., Matthews, R.B., Sopuck, V. 2000 Athabasca Basin (Canada) unconformity-type uranium deposits: exploration model, current mine developments and exploration directions in Geology and Ore Deposits 2000: The Great Basin and Beyond, Geological Society of Nevada Symposium Proceedings. pp. 103-125.
Tourigny, G., Quirt, D.H., Wilson, N., Wilson, G., Breton, G., and Portella, P. 2005 Descriptive geology and structures associated with the Sue C uranium deposit, eastern Athabasca Basin, Saskatchewan in Jefferson, C.W. and Delaney, G., eds., EXTECH IV: Geology and Uranium EXploration TECHnology of the Proterozoic Athabasca Basin, Saskatchewan and Alberta: Geological Survey of Canada, Bulletin 588 (also Saskatchewan Geological Society, Special Publication 17; Geological Association of Canada, Mineral Deposits Division, Special Publication 4).
World Uranium Mining 2004 Nuclear Issues Briefing Paper 41. Uranium Information Centre, Melbourne, Australia at http://www.uic.com.au
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APPENDIX 1: ANALYTICAL CERTIFICATES
ACME LABORATORY ANALYTICAL CERTIFICATE, WGM ARICHENG NORTH CHECK ASSAYS, WGM ARICHENG SOUTH CHECK ASSAYS, CHECK SURVEY GPS DRILL COLLARS
- 84 - ACME ANALYTICAL LABORATORIES LTD. Final Report Client: Prometheus Resources Guyana Inc. File Created: 29-Sep-08 Job Number: GTG08000813 Number of Samples: 50 Project: None Given Shipment ID: P.O. Number: NOT GIVEN
Received: 10-Sep-08 Method WGHT 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX Analyte Wgt Mo Cu Pb Zn Ag Ni Co Mn Fe As U Au Th Sr Cd Sb Bi V Ca P La Cr Mg Unit KG PPM PPM PPM PPM PPM PPM PPM PPM % PPM PPM PPM PPM PPM PPM PPM PPM PPM % % PPM PPM % MDL 0.01 0.1 0.1 0.1 1 0.1 0.1 0.2 1 0.01 1 0.1 0.1 0.1 1 0.1 0.1 0.1 1 0.01 0.001 0.1 1 0.01 Sample Type 39951 Drill Core 0.52 0.1 57.9 182.7 54 0.2 49.7 13.9 490 2.68 2 397.4 <0.1 14.1 1387 0.7 0.4 0.4 79 2.64 0.184 59.9 75 1.45 39952 Drill Core 0.56 0.2 65 566.2 48 2 65.6 15.7 585 2.81 2 1633.5 <0.1 19.8 1599 5.8 0.7 0.8 93 3.25 0.166 74.6 69 1.41 39953 Drill Core 0.42 0.2 77 215.8 57 0.7 52.3 15.3 428 3.04 2 480.6 <0.1 14.3 568 2.4 0.6 1 117 1.45 0.604 59.5 75 2.2 39954 Drill Core 0.5 1.7 76.7 191.5 56 0.6 53.1 15.4 501 2.86 1 537.9 4.3 13.6 459 <0.1 0.4 0.6 104 1.54 0.238 52.6 60 1.55 39955 Drill Core 0.6 0.3 39.6 206.7 40 0.7 41.6 13 539 2.84 3 441 <0.1 20.8 521 2.4 0.9 0.7 70 2.6 0.184 65.9 70 1.36 39956 Core Pulp 0.01 26.1 86.3 285 38 0.5 149.9 24.4 715 4.96 3 1173.2 <0.1 11.7 242 0.1 0.1 0.8 547 2.94 0.119 29.3 78 1.31 39957 Drill Core 0.96 0.2 61.8 755 54 0.3 66.1 18.8 715 3.13 3 1962.3 <0.1 18.7 787 1.1 0.7 0.4 82 3.41 0.219 74.4 79 1.38 39958 Drill Core 0.48 <0.1 71.9 255.4 57 0.2 61.9 16.8 453 3 2 591.8 <0.1 15.6 719 0.7 0.3 0.4 87 2.92 0.221 74 69 1.18 39959 Drill Core 0.54 1.2 60 396 42 0.3 45.1 15.1 598 3.13 2 915 <0.1 16.1 1330 0.7 0.5 0.4 60 3.57 0.187 75.3 74 1.37 39960 Drill Core 0.5 0.1 37.2 424.8 57 1 81.9 16.4 686 2.95 1 773.2 <0.1 12.8 784 3.4 0.8 0.6 112 2.99 0.171 51 59 1.74 39961 Drill Core 0.5 <0.1 6 67.7 50 <0.1 49.2 15.7 459 2.42 <1 218.7 <0.1 11.6 417 <0.1 0.3 0.2 52 0.7 0.156 53.9 65 2.78 39962 Drill Core 0.44 0.9 30.8 1053.3 58 52.7 41.3 14 624 2.95 26 2873.7 <0.1 76.6 743 33.7 3.1 2.2 345 3.87 0.259 61.3 67 1.64 39963 Drill Core 0.48 0.4 297.7 277.9 73 0.4 67 18.2 670 3.51 2 681.4 <0.1 14.9 1491 0.6 0.6 0.9 80 3.59 0.307 67.4 115 1.99 39964 Drill Core 0.42 0.5 82.9 230.3 44 0.2 45.3 13.2 710 2.01 1 420.7 <0.1 16.4 846 0.6 0.6 0.6 77 3.98 0.254 57.4 67 1.25 39965 Drill Core 0.52 0.3 64.9 191.6 35 0.3 35 12.2 486 3.48 <1 422.9 <0.1 15.1 965 0.7 0.4 0.4 60 3.31 0.187 71.3 80 1.03 39966 Drill Core 0.5 0.3 66 375.8 41 2.5 38.5 12.3 637 3.43 5 1152 <0.1 25.6 752 7.3 1.1 1.5 78 3.6 0.165 70.1 70 1.42 39967 Drill Core 0.48 0.5 43 317.1 50 0.1 46 13.7 492 2.73 4 699.1 <0.1 14.6 653 0.3 0.8 0.5 69 2.5 0.159 52.9 65 1.69 39968 Drill Core 0.46 0.1 57.3 176.1 43 0.1 45.7 14.2 536 3.15 3 619 <0.1 18.2 585 0.1 1 0.4 78 3.37 0.146 86.5 72 1.09 39969 Drill Core 0.46 0.2 110.9 260.4 56 0.2 67.1 14.9 356 2.65 1 672 <0.1 13.4 1458 0.5 0.6 0.6 86 1.24 0.337 52.5 62 1.47 39970 Drill Core 0.7 0.2 3 0.7 5 <0.1 1.2 0.4 69 0.47 <1 3.2 <0.1 0.1 14 <0.1 0.1 <0.1 4 0.02 0.002 0.7 6 0.03 39971 Drill Core 0.54 2.5 73.2 340.5 65 0.3 62.2 16.7 382 3.59 1 747.4 <0.1 17.8 617 0.8 0.6 1.3 112 1.87 0.444 68.2 89 2.11 39972 Drill Core 0.54 0.2 64.8 185.8 57 0.1 51.4 15.9 588 2.76 1 446.3 <0.1 15.7 384 0.2 0.4 0.4 79 2.81 0.172 58.7 60 1.82 39973 Drill Core 0.48 0.2 53.7 302.1 57 0.1 57 17.6 566 2.89 2 768.5 <0.1 18.7 474 0.4 0.5 0.6 74 3.18 0.169 68.1 58 1.54 39974 Drill Core 0.52 1.6 63.8 505.1 55 0.3 59.8 17.6 503 3.1 2 1097 <0.1 15.7 832 0.9 0.6 0.5 70 2.53 0.154 52 54 1.48 39975 Drill Core 0.54 1.1 98.3 177.4 49 0.7 45.7 13.7 721 2.96 2 405.3 <0.1 14.5 629 2.6 0.7 0.8 63 3.57 0.228 65.2 57 1.53 39976 Drill Core 0.88 0.3 77.6 421.2 60 0.1 59.9 18 738 3.33 2 1057.9 <0.1 20 1178 0.4 0.4 0.4 99 3.93 0.308 80.4 75 1.9 39977 Drill Core 0.62 0.5 101.4 561.5 93 0.5 99.9 26.9 766 4.81 4 1385.8 <0.1 21.8 752 2.2 0.5 0.6 186 1.99 0.422 92.3 117 3.73 39978 Drill Core 0.54 0.5 62.5 185.9 65 <0.1 64.5 19 631 3.3 5 439.5 <0.1 20.4 953 0.3 0.3 0.6 92 3.26 0.299 74.6 82 1.92 39979 Drill Core 0.46 1.6 113.2 206.7 61 0.1 55.6 16.9 624 3.44 2 419.2 <0.1 22.3 916 0.3 0.3 0.4 84 3.61 0.298 91 74 1.7 39980 Drill Core 0.56 1.8 126.8 151.2 59 0.2 57.8 16.8 633 3.25 4 367.4 <0.1 20.9 975 0.8 0.2 0.6 75 3.56 0.357 83.8 74 1.88 39981 Drill Core 0.46 0.5 109.8 216.4 84 1.9 76.1 20.5 766 3.56 6 735.8 <0.1 23 1168 7.9 0.5 0.7 104 4.29 0.335 89.8 92 2 39982 Drill Core 0.5 0.6 13.6 898.9 107 0.6 189.7 40.2 968 5.79 3 2362.5 <0.1 16.2 1153 2.8 1.2 0.4 127 9.77 0.774 125.1 143 3.71 39983 Drill Core 0.52 0.6 35.3 2595.6 140 1.5 191.6 44.3 1164 5.42 6 >4000.0 <0.1 16.9 1647 6.2 1.9 1 147 9.95 0.813 100.7 111 3.79 39984 Core Pulp 0.01 26.9 87 308.5 41 0.5 150.6 24.2 709 5.02 4 1214.2 <0.1 11.9 239 0.2 <0.1 0.8 552 2.96 0.122 28.8 71 1.3 39985 Drill Core 0.48 3.5 1601.3 1210.5 77 1.1 106 25.3 731 3.31 5 3459.6 <0.1 17 4259 1.4 1.1 1.4 82 3.74 0.531 86.3 63 2.16 39986 Drill Core 0.52 7.2 130.3 185 64 0.2 62.4 18.6 610 3.49 4 405.7 <0.1 22.5 957 0.5 0.3 0.5 88 3.17 0.257 82.2 83 1.95 39987 Drill Core 0.5 0.5 73.6 156.4 61 <0.1 60.9 16.6 645 3.1 3 315.4 <0.1 16.8 981 0.2 0.3 0.4 92 4.3 0.295 70.2 72 1.64 39988 Drill Core 0.5 0.8 74.3 309 66 1.2 73.4 19.6 644 3.65 4 744.4 <0.1 20.2 1304 4.9 0.4 0.7 116 4.01 0.536 84 82 2.3 39989 Drill Core 0.42 0.7 101.5 342 108 1.5 237.3 43.4 1073 6.56 4 837.8 <0.1 17 986 5.9 0.6 0.5 191 5.43 0.873 116.7 171 6.25 39990 Drill Core 0.56 0.3 120.9 369 71 0.1 67.6 19 685 3.43 6 912.3 <0.1 24.9 1565 0.3 0.4 0.5 90 3.91 0.324 90.5 83 1.86 39991 Drill Core 0.44 0.2 194.4 444.8 70 0.4 62.5 14.8 243 2.16 3 1132.9 <0.1 16.4 921 1.4 0.4 0.7 140 2.01 0.783 58.2 53 1.56 39992 Drill Core 0.5 0.3 88.6 209.2 50 0.4 49.2 15.3 530 2.81 2 500.5 <0.1 20.4 830 1.5 0.3 0.4 69 3.45 0.222 72.5 60 1.66 39993 Drill Core 0.56 0.3 57.3 487.3 59 <0.1 68.6 19.1 643 3.6 4 1492 <0.1 21.1 677 0.4 0.7 0.3 86 2.99 0.282 92.2 80 2.1 39994 Drill Core 0.82 0.1 1.9 <0.1 1 <0.1 0.7 0.3 60 0.38 <1 3.1 <0.1 <0.1 4 <0.1 <0.1 <0.1 <1 0.02 0.001 0.4 5 0.01 39995 Drill Core 0.48 0.3 117.6 480.4 73 0.2 85.2 23 734 3.9 4 1353.2 <0.1 23.1 709 0.5 0.7 0.5 86 5.89 0.347 89.3 96 2.1 39996 Drill Core 0.52 1.2 112.1 898 76 0.4 80.4 20.5 536 3.54 3 2265 <0.1 20.7 805 0.9 0.5 1.1 158 3.45 0.299 81.8 83 1.9 39997 Drill Core 0.56 0.5 91.2 700.6 60 4.8 78.3 16.9 491 2.73 4 1876.4 <0.1 21.5 1183 19.7 0.8 0.8 127 3.57 0.694 71.1 69 1.58 39998 Drill Core 0.48 7.6 72.3 207.3 65 0.4 63.1 17.4 622 2.77 3 449.5 <0.1 15.3 738 1.6 0.3 0.5 85 4.01 0.321 69 75 1.49 39999 Drill Core 0.42 0.5 283.8 662.7 72 4 112.9 25.4 655 4.07 6 1636.4 <0.1 18.6 3463 15.7 0.9 1.5 189 4.74 0.684 82.2 84 2.42 40000 Drill Core 0.8 0.3 102.5 506.1 61 1 61.4 17.2 746 3.23 3 1239 <0.1 22.6 344 4.3 0.8 0.7 88 1.71 0.231 88.2 67 2.99 Pulp Duplicates 39989 Drill Core 0.42 0.7 101.5 342 108 1.5 237.3 43.4 1073 6.56 4 837.8 <0.1 17 986 5.9 0.6 0.5 191 5.43 0.873 116.7 171 6.25 39989 REP 0.6 113 342.1 109 1.6 243.1 45.4 1105 6.71 4 828.1 <0.1 14.4 1008 6 0.6 0.5 193 5.54 0.852 116.7 174 6.41 39951 Drill Core 0.52 0.1 57.9 182.7 54 0.2 49.7 13.9 490 2.68 2 397.4 <0.1 14.1 1387 0.7 0.4 0.4 79 2.64 0.184 59.9 75 1.45 39951 REP 0.2 56.7 188.6 52 0.2 48.8 14 479 2.61 1 389.2 <0.1 14.2 1417 0.7 0.3 0.4 79 2.61 0.18 62.1 74 1.43 39983 Drill Core 0.52 0.6 35.3 2595.6 140 1.5 191.6 44.3 1164 5.42 6 >4000.0 <0.1 16.9 1647 6.2 1.9 1 147 9.95 0.813 100.7 111 3.79 39983 REP Reference Materials STD DST6 STD 11.8 123.1 35.5 159 0.3 30.1 13.2 944 3.75 24 8.9 <0.1 7 309 6.4 5.1 4.9 98 2.09 0.098 24.1 220 1.02 STD OREASSTD 1.8 720.8 22.1 139 0.3 364.8 120.5 1263 18.84 12 3.8 <0.1 9.5 33 0.2 0.8 0.2 264 0.29 0.048 26.8 1066 0.2 STD DST6 STD 12.1 127.1 37.1 162 0.3 31.9 13.4 939 3.82 27 8.9 <0.1 7 319 6.8 5.6 5 97 2.19 0.1 26.6 243 1.05 STD OREASSTD 1.9 727.4 22 139 0.3 365.9 118.9 1248 19.52 12 2.6 <0.1 9.6 34 0.2 0.8 0.2 260 0.29 0.049 24.2 1055 0.22 STD SF-3T STD STD R4T STD BLK BLK <0.1 <0.1 <0.1 <1 <0.1 <0.1 <0.2 <1 <0.01 <1 <0.1 <0.1 <0.1 <1 <0.1 <0.1 <0.1 <1 <0.01 <0.001 <0.1 <1 <0.01 BLK BLK <0.1 <0.1 <0.1 <1 <0.1 <0.1 <0.2 <1 <0.01 <1 <0.1 <0.1 <0.1 <1 <0.1 <0.1 <0.1 <1 <0.01 <0.001 <0.1 <1 <0.01 BLK BLK Prep Wash PREP BLANPrep Blank 0.66 0.3 3.2 0.5 6 <0.1 1.1 0.4 79 0.64 <1 1.5 <0.1 <0.1 3 <0.1 0.2 <0.1 4 0.01 0.003 0.3 11 0.01 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 1EX 7TD Ba Ti Al Na K WZr Ce Sn Y Nb Ta Be Sc Li S Rb Hf U PPM%%%%PPMPPMPPMPPMPPMPPMPPMPPMPPMPPM%PPMPPM% 1 0.001 0.01 0.001 0.01 0.1 0.1 1 0.1 0.1 0.1 0.1 1 1 0.1 0.1 0.1 0.1 0.01
711 0.159 8.41 6.145 0.34 0.9 1733.9 117 0.5 11.9 5.2 0.3 4 7 20.9 <0.1 12.9 12.9 729 0.217 7.57 5.611 0.14 3.4 >2000.0 157 0.7 22.2 10.8 0.6 9 3 19.6 <0.1 6.7 105.6 122 0.195 7.86 5.555 0.16 2.2 >2000.0 125 0.7 17.9 7.5 0.3 2 4 42.3 <0.1 5.1 47.3 995 0.153 7.28 5.279 0.19 2.2 302.2 112 0.5 14.2 5.3 0.3 2 5 30 <0.1 8 5.1 326 0.169 8.3 6.419 0.31 3.2 >2000.0 134 0.7 18.1 7.2 0.4 6 5 35.5 <0.1 22.1 48.1 231 0.276 6.25 3.565 0.4 1.5 194.3 60 3 21.9 8.3 0.7 54 12 14.8 0.2 16.9 4.1 158 0.348 8.46 6.125 0.26 1.4 >2000.0 147 1 11.7 11.2 0.8 5 7 28.4 <0.1 10 20.9 713 0.202 8.23 6.004 0.23 0.9 1544 140 0.8 12.9 6.9 0.4 6 7 20.4 <0.1 7.3 13.3 1733 0.151 8.38 6.238 0.36 2.1 1812.8 145 0.9 14.6 5.7 0.2 4 6 15.4 <0.1 15.2 14.1 157 0.175 7.53 5.732 0.07 2.3 >2000.0 114 0.6 13.7 7.6 0.3 5 3 31.4 <0.1 3.4 71.5 104 0.109 7.93 6.155 0.09 5.9 408.9 113 0.5 12.2 5.3 0.3 3 5 59.6 <0.1 2 5.7 308 0.259 5.9 3.904 0.13 3 >2000.0 116 2.2 66.3 26.2 0.3 20 32 45 <0.1 6.7 955.5 319 0.189 7.92 5.892 0.2 2.3 1509.4 142 0.6 14.2 5 0.3 2 8 23.4 <0.1 8.6 10.2 430 0.186 8.19 6.402 0.26 3 1951.7 124 0.8 19.6 6.7 0.4 3 7 24.9 <0.1 10.8 15.3 838 0.177 8.06 6.443 0.19 3 >2000.0 144 0.7 18 4.9 0.2 2 6 9.8 <0.1 8.1 17.1 315 0.233 7.91 5.813 0.16 3.6 >2000.0 141 1 23.7 11.4 0.4 7 1 38.8 <0.1 11.5 188.6 213 0.229 8.88 5.882 0.46 3.1 956.6 106 1 13.9 10 0.5 5 5 38.3 <0.1 29.9 11.5 421 0.312 8.85 6.74 0.23 3.6 272.8 161 0.9 16.2 13 0.7 2 6 39.7 <0.1 15.2 5 7529 0.218 7.12 5.564 0.08 1.9 1516.1 111 0.9 12.4 8.3 0.4 5 6 28.4 0.3 2.9 11.9 11 0.005 0.24 0.045 0.05 0.2 28 1 0.2 0.3 0.4 <0.1 <1 <1 0.9 <0.1 2 0.3 188 0.182 7.61 5.327 0.18 3.4 >2000.0 126 0.6 20.8 5.6 0.3 3 7 48.1 <0.1 11.3 23.4 260 0.198 7.9 5.771 0.39 0.8 295.5 125 0.7 15.8 7.6 0.4 3 6 51.5 <0.1 17.7 5 536 0.187 8.79 6.071 0.37 0.6 422.2 139 0.7 17.2 8 0.3 4 7 37.1 <0.1 21.7 7.4 134 0.166 7.71 6.451 0.26 1 925.8 111 0.5 8.7 5.7 0.3 3 5 19.7 <0.1 6.7 9 424 0.162 8.83 6.446 0.12 4 >2000.0 132 0.6 16.3 5.5 0.2 2 6 36.4 <0.1 10.2 19.6 844 0.256 7.82 5.409 0.18 1.5 441.7 170 0.8 20.2 10.5 0.6 6 8 42.9 <0.1 9.6 3.5 152 0.544 8.11 5.054 0.13 2.8 >2000.0 206 1.3 34.1 22.7 1 7 12 70.3 <0.1 6.2 7.6 800 0.291 7.89 5.561 0.47 0.8 226.1 166 0.9 19.9 12.8 0.6 6 9 32.7 <0.1 21.2 3.1 852 0.276 7.58 5.303 0.28 3.2 230.3 182 0.9 22.7 13.5 0.5 5 7 36.9 <0.1 20 4.1 711 0.278 7.74 5.388 0.58 0.8 617.2 178 1 22.6 11.3 0.5 5 8 42.8 <0.1 28.8 3.6 640 0.226 7.43 5.083 0.6 1.2 >2000.0 190 0.8 23.6 10.8 0.4 9 7 51.4 <0.1 39.1 47.8 288 0.434 6.27 3.201 1.24 3.1 >2000.0 254 1 42.6 13.7 0.5 5 18 98.3 <0.1 124.4 11.3 722 0.652 5.46 2.497 0.43 5.1 >2000.0 226 1.3 53.6 31.1 0.9 25 15 118 <0.1 50.1 15.1 0.62 234 0.266 6.29 3.685 0.43 1.4 195.8 59 3.2 20.6 7.9 0.7 54 12 15.9 0.2 16.7 3.9 411 0.393 6.14 4.096 0.04 3.7 1137.4 190 0.7 38.7 19.9 0.8 5 8 45.9 0.2 3.7 6.7 585 0.302 8.07 5.63 1.01 0.6 404.3 178 0.9 21 12.5 0.5 5 8 52.5 <0.1 63.9 3.4 1178 0.259 7.44 5.294 0.49 1 148.1 160 0.8 19.6 9.4 0.4 13 8 39 <0.1 25 2.6 354 0.266 7.56 5.206 0.4 0.8 >2000.0 177 0.9 24.3 11.4 0.6 7 7 53.2 <0.1 37.2 24.5 611 0.916 5.8 0.895 0.91 1.9 >2000.0 260 2.4 49.3 37.9 1.4 9 19 122.9 <0.1 59.5 62.5 892 0.336 8.14 5.8 0.5 1.6 193.9 203 0.9 21.2 16.6 1 7 10 42.3 <0.1 32.5 3.2 165 0.263 7.47 5.848 0.17 1.4 1597.4 125 0.9 19.2 11.4 0.6 4 5 32 <0.1 17.8 15.2 220 0.174 8.25 5.976 0.24 0.6 1414.7 156 0.6 24.2 7.6 0.5 6 7 36.2 <0.1 14.7 9.7 558 0.333 7.3 5.301 0.41 2.8 289.8 200 0.7 22.6 15 0.7 3 9 53.3 <0.1 23.2 4.1 3 0.002 0.05 0.01 <0.01 <0.1 4 <1 <0.1 0.1 0.4 <0.1 <1 <1 <0.1 <0.1 <0.1 0.1 624 0.453 7.62 4.964 0.14 2 473.9 197 1.1 31.1 21.2 0.9 2 11 58.4 <0.1 11.3 5.6 785 0.296 7.83 5.342 0.22 1.5 783.5 171 0.9 21.2 12.7 0.6 7 9 46.3 <0.1 17.8 4.3 431 0.214 7.22 5.394 0.28 1 >2000.0 153 0.8 27.4 9.2 0.3 13 13 33.9 <0.1 17.6 223.8 237 0.21 7.8 5.845 0.29 0.7 1761.9 147 0.5 14.7 7.7 0.6 7 8 29.8 <0.1 19 15.3 6352 0.485 6.94 4.791 0.3 4.8 >2000.0 184 1.9 45.6 21.9 0.9 11 7 56.5 0.2 36.8 146.1 132 0.337 8.54 5.725 0.14 3.1 >2000.0 181 0.8 24.6 16.3 0.9 9 6 81.2 <0.1 14.3 34.9 611 0.916 5.8 0.895 0.91 1.9 >2000.0 260 2.4 49.3 37.9 1.4 9 19 122.9 <0.1 59.5 62.5 623 0.938 5.86 0.916 0.91 2 >2000.0 263 2.3 51.8 38.5 1.4 10 20 130.6 <0.1 59.6 62.9 711 0.159 8.41 6.145 0.34 0.9 1733.9 117 0.5 11.9 5.2 0.3 4 7 20.9 <0.1 12.9 12.9 709 0.153 8.52 6.324 0.33 0.8 1738.1 122 0.6 11.8 5.3 0.3 3 7 21.8 <0.1 13.4 12.5 722 0.652 5.46 2.497 0.43 5.1 >2000.0 226 1.3 53.6 31.1 0.9 25 15 118 <0.1 50.1 15.1 0.62 0.62
623 0.379 6.62 1.718 1.47 7.6 60.2 51 5.8 15 10 0.5 4 11 26 <0.1 58.9 1.7 280 0.995 6.82 0.083 0.36 1 147.2 51 2.5 12.9 19.7 1.1 <1 67 15.2 <0.1 25.3 4.1 668 0.343 6.95 1.781 1.54 7.7 58.8 54 6.2 15 9.7 0.5 3 11 24.3 <0.1 59.7 1.7 260 1.009 6.83 0.093 0.36 1 153.2 47 2.3 12.6 19.2 1.1 <1 65 15.3 <0.1 21.8 3.8 <0.01 <0.01 <1 <0.001 <0.01 <0.001 <0.01 <0.1 3.4 <1 <0.1 <0.1 <0.1 <0.1 <1 <1 <0.1 <0.1 <0.1 <0.1 <1 <0.001 <0.01 0.005 <0.01 <0.1 <0.1 <1 <0.1 <0.1 <0.1 <0.1 <1 <1 <0.1 <0.1 <0.1 <0.1 <0.01
10 0.005 0.13 0.021 0.01 <0.1 1.2 <1 0.2 0.1 0.7 <0.1 <1 <1 4.5 <0.1 <0.1 <0.1 Aricheng North - WGM Check Assays
Hole From To SAMPLE U_ppm U3O8_ppm U3O8_PCT Hole From To Width WGM_SAMPLE U_ppm U3O8_ppm U3O8_PCT Variance % Variance ARN-002 104.0 104.5 10199 938.4 1106.4 0.11 ARN-002 104.0 104.5 39976 1057.9 1247.3 0.12 -119.5 -12.7 ARN-003 42.5 43.0 10276 2669.5 3147.3 0.32 ARN-003 42.5 43.0 39977 1385.8 1633.9 0.16 1283.7 48.1 ARN-004 78.5 79.0 10417 583.8 688.3 0.07 ARN-004 78.5 79.0 39978 439.5 518.2 0.05 144.3 24.7 ARN-010 134.5 135.0 11149 534.7 630.4 0.06 ARN-010 134.5 135.0 39979 419.2 494.2 0.05 115.5 21.6 ARN-012 30.0 30.5 11187 322.8 380.6 0.04 ARN-012 30.0 30.5 39980 367.4 433.2 0.04 -44.6 -13.8 ARN-015 45.0 45.5 11333 864.1 1018.8 0.10 ARN-015 45.0 45.5 39981 735.8 867.5 0.09 128.3 14.8 ARN-019 29.5 30.0 11484 2342 2761.2 0.28 ARN-019 29.5 30.0 39982 2362.5 2785.4 0.28 -20.5 -0.9 ARN-022 67.0 67.5 11563 6900 8135.1 0.81 ARN-022 67.0 67.5 39983 >4000.0 Standard 39984 1214.2 1431.5 0.14 ARN-026 30.0 30.5 11744 2445 2882.7 0.29 ARN-026 30.0 30.5 39985 3459.6 4078.9 0.41 -1014.6 -41.5 ARN-030 36.0 36.5 24179 466.5 550.0 0.06 ARN-030 36.0 36.5 39986 405.7 478.3 0.05 60.8 13.0 ARN-034 116.5 117.0 24695 313.8 370.0 0.04 ARN-034 116.5 117.0 39987 315.4 371.9 0.04 -1.6 -0.5 ARN-037 42.0 42.5 25025 622.2 733.6 0.07 ARN-037 42.0 42.5 39988 744.4 877.6 0.09 -122.2 -19.6 ARN-043 60.0 60.5 25441 1758 2072.7 0.21 ARN-043 60.0 60.5 39989 837.8 987.8 0.10 920.2 52.3 ARN-045 70.0 70.5 25643 829.8 978.3 0.10 ARN-045 70.0 70.5 39990 912.3 1075.6 0.11 -82.5 -9.9 ARN-048 78.0 78.5 25715 965.5 1138.3 0.11 ARN-048 78.0 78.5 39991 1132.9 1335.7 0.13 -167.4 -17.3 ARN-053 76.5 77.0 25990 454.8 536.2 0.05 ARN-053 76.5 77.0 39992 500.5 590.1 0.06 -45.7 -10.0 ARN-055 70.5 71.0 26121 1501.9 1770.7 0.18 ARN-055 70.5 71.0 39993 1492 1759.1 0.18 9.9 0.7 Blank 39994 3.1 3.7 0.00 ARN-056 90.5 91.0 26160 3405.6 4015.2 0.40 ARN-056 90.5 91.0 39995 1353.2 1595.4 0.16 2052.4 60.3 ARN-063 116.0 116.5 26724 1961.8 2313.0 0.23 ARN-063 116.0 116.5 39996 2265 2670.4 0.27 -303.2 -15.5 ARN-065 101.0 101.5 26808 824.5 972.1 0.10 ARN-065 101.0 101.5 39997 1876.4 2212.3 0.22 -1051.9 -127.6 ARN-067 113.0 113.5 26943 387.4 456.7 0.05 ARN-067 113.0 113.5 39998 449.5 530.0 0.05 -62.1 -16.0 ARN-070 134.0 134.5 27146 1303.6 1536.9 0.15 ARN-070 134.0 134.5 39999 1636.4 1929.3 0.19 -332.8 -25.5 ARN-076 79.0 79.5 27843 2009.5 2369.2 0.24 ARN-076 79.0 79.5 40000 1239 1460.8 0.15 770.5 38.3 Aricheng South - WGM Check Assays
Hole From To SAMPLE U_ppm U3O8_ppm U3O8_PCT Hole From To Width WGM_SAMPLE U_ppm U3O8_ppm U3O8_PCT Variance % Variance ARS-001 82.5 83.0 10777 288.1 339.7 0.03 ARS-001 82.5 83.0 39951 397.4 468.5 0.05 -109.3 -37.9 ARS-001 83.5 84.0 10779 2174.5 2563.7 0.26 ARS-001 83.5 84.0 39952 1633.5 1925.9 0.19 541.0 24.9 ARS-002 23.0 23.5 10802 815.1 961.0 0.10 ARS-002 23.0 23.5 39953 480.6 566.6 0.06 334.5 41.0 ARS-002 64.5 65.0 10849 465.9 549.3 0.05 ARS-002 64.5 65.0 39954 537.9 634.2 0.06 -72.0 -15.5 ARS-002 99.5 100.0 10881 453.6 534.8 0.05 ARS-002 99.5 100.0 39955 441.0 519.9 0.05 12.6 2.8 Standard 39956 1173.2 1383.2 0.14 ARS-006 38.0 38.5 11807 1944.0 2292.0 0.23 ARS-006 38.0 38.5 39957 1962.3 2313.6 0.23 -18.3 -0.9 ARS-006 45.5 46.0 11823 487.3 574.5 0.06 ARS-006 45.5 46.0 39958 591.8 697.7 0.07 -104.5 -21.4 ARS-010 64.0 64.5 11991 882.7 1040.7 0.10 ARS-010 64.0 64.5 39959 915.0 1078.8 0.11 -32.3 -3.7 ARS-011 101.0 101.5 12126 604.1 712.2 0.07 ARS-011 101.0 101.5 39960 773.2 911.6 0.09 -169.1 -28.0 ARS-013 57.5 58.0 12323 315.1 371.5 0.04 ARS-013 57.5 58.0 39961 218.7 257.8 0.03 96.4 30.6 ARS-021 73.5 74.0 14157 3726.0 4393.0 0.44 ARS-021 73.5 74.0 39962 2873.7 3388.1 0.34 852.3 22.9 ARS-027 107.5 108.0 14860 631.8 744.9 0.07 ARS-027 107.5 108.0 39963 681.4 803.4 0.08 -49.6 -7.9 ARS-027 118.0 118.5 14883 343.3 404.8 0.04 ARS-027 118.0 118.5 39964 420.7 496.0 0.05 -77.4 -22.5 ARS-031 83.5 84.0 15440 412.8 486.7 0.05 ARS-031 83.5 84.0 39965 422.9 498.6 0.05 -10.1 -2.4 ARS-042 185.5 186.0 17912 793.4 935.4 0.09 ARS-042 185.5 186.0 39966 1152.0 1358.2 0.14 -358.6 -45.2 ARS-047 107.5 108.0 20074 1400.7 1651.4 0.17 ARS-047 107.5 108.0 39967 699.1 824.2 0.08 701.6 50.1 ARS-054 111.5 112.0 21229 253.0 298.3 0.03 ARS-054 111.5 112.0 39968 619.0 729.8 0.07 -366.0 -144.7 ARS-058 43.5 44.0 21713 1148.6 1354.2 0.14 ARS-058 43.5 44.0 39969 672.0 792.3 0.08 476.6 41.5 Blank 39970 3.2 3.8 0.00 ARS-062 48.5 49.0 22158 808.8 953.6 0.10 ARS-062 48.5 49.0 39971 747.4 881.2 0.09 61.4 7.6 ARS-064 24.5 25.0 22341 484.8 571.6 0.06 ARS-064 24.5 25.0 39972 446.3 526.2 0.05 38.5 7.9 ARS-070 135.5 136.0 23116 634.9 748.5 0.07 ARS-070 135.5 136.0 39973 768.5 906.1 0.09 -133.6 -21.0 ARS-075 176.5 177.0 24101 1006.9 1187.1 0.12 ARS-075 176.5 177.0 39974 1097.0 1293.4 0.13 -90.1 -8.9 ARS-076 212.0 212.5 24056 691.5 815.3 0.08 ARS-076 212.0 212.5 39975 405.3 477.8 0.05 286.2 41.4 Aricheng North Check survey GPS drill collars Datum: Prov S Am 56 Original GPS Co‐ordinates Property Hole No. Northing Easting Hole No. Northing Easting
ARN 77 804307 692019 "+/‐ 5m" ARN‐077 804315.2 692020.8
ARN 46A 804335 692000 "+/‐ 5m" ARN‐046A 804340.6 692002.7
ARN 28 ARN‐028 804453.4 692231.4 ARN 29 804452 692231 "+/‐ 3m" ARN‐029 804453.1 692231.7
ARN 12 ARN‐012 804488.5 692193.4 ARN 13 804486 692195 "+/‐ 3m" ARN‐013 804487.9 692194
ARN 74 804524 692299 "+/‐ 4m" ARN‐074 804528.1 692296.5
ARN 63 804541 6922279 "+/‐ 3m" ARN‐063 804543.9 692278
ARN 55 ARN‐055 804736.1 692514.1 ARN 56 804733 692517 "+/‐ 6m" ARN‐056 804735.9 692514.2
ARN 69 ARN‐069 804768.6 692516 ARN 71 804767 692519 "+/‐ 3m" ARN‐071 804768.1 692516.5
Aricheng South Check survey GPS drill collars Datum: Prov S Am 56 Original GPS Co‐ordinates Property Hole No. Northing Easting Hole No. Northing Easting
ARS 52 806567 688743 "+/‐ 5m" ARS‐052 806567.3 688742.5
ARS 71 ARS‐071 806497.4 688732.4 ARS 74 806492 688730 "+/‐ 4m" ARS‐074 806497.6 688732.8
ARS 63 ARS‐063 806509.5 688672.7 ARS 64 806506 688666 "+/‐ 4m" ARS‐064 806509.7 688673
ARS 43 ARS‐043 806706.9 688695.6 ARS 44 806706 688697 "+/‐ 4m" ARS‐044 806707 688695.8
ARS 75 806716 688717 "+/‐ 4m" ARS‐075 806716.8 688715
ARS 81 806795 688694 "+/‐ 4m" ARS‐081 806793 688695
ARS 80 806780 688671 "+/‐ 3m" ARS‐080 806781 688673