North Shore Uranium drilling Falcon property, Saskatchewan
North Shore Uranium Ltd. [TSXV-NSU] has mobilized and commenced its drill program at its 55,699-hectare Falcon property located at the eastern margin of the Athabasca Basin in northern Saskatchewan. The company is planning to drill three targets associated with electromagnetic (EM) conductors.
The drill program is being managed by TerraLogic Exploration Inc. The final three targets selected for drilling lie along a strong, dominantly northeast-trending EM conductor system. For each target, a subsurface geophysical model of the EM conductor has been prepared and a hole, which is drilled at an angle, has been designed to intersect the conductor. The program is expected to last approximately 10 days with final sample results expected approximately four weeks after the end of the program.
Falcon is a highly prospective uranium exploration property with a limited exploration history at the eastern margin of the Athabasca Basin in an area that is seeing increased exploration activity and recent discoveries.
Reinterpretation of EM data complemented by geophysical data acquired in 2022 has allowed the company to identify high priority uranium targets in areas where there has been no previous drilling. The property is located approximately 35 km east of the active Key Lake uranium mill and former mine. The new uranium discovery potential at Falcon is significant including shallow Athabasca-style basement-hosted mineralization and pegmatite-hosted mineralization similar to that discovered at the Fraser Lakes Zone B uranium resource located just 3 km south of the property.
Falcon consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100%-owned by the company and the remaining 11 claims totaling 42,908 hectares are subject to an option agreement with Skyharbour Resources Ltd. [TSXV-SYH; OTCQX-SYHBF; FSE-SC1P]. Under the terms of the option agreement, North Shore can earn an 80% interest in the 11 claims and has the option to purchase the remaining 20% interest after it has earned its initial 80% interest.
The near-term business objectives of North Shore Uranium are to become a major force in exploration for economic uranium deposits at the eastern margin of Saskatchewan’s Athabasca Basin, a tier-one jurisdiction for discovering new mineable high-grade uranium deposits.
The company will work to achieve those objectives by conducting exploration programs on its two properties, Falcon and the West Bear Property, located 90 km northeast of Falcon, and by evaluating opportunities to increase its portfolio of properties in the region.