SMDI #

2758

Historical Showing Names

Centennial Zone, Virgin River Project

Project Name

UTM Northing (NAD83 Z13)

6386046.0000

TRM (Township-Range-Meridian)

99-10-3

Associated Commodities

Status

Deposit: Advanced Exploration

Geological Domain

Mudjatik

Host Minerals

Exploration History

11/17/2009 1978- Denison Mines completed airborne radiometric and magnetic surveys. (AF 74G12-0007). Also completed prospecting, geological mapping and sediment sampling. (AF 74G12-0008) 1979- Prospecting, mapping, ground EM and radiometric surveys, sediment sampling conducted by Denison, SMDC and MegaMontan. 1980- Radon has surveys, sediment sampling, prospecting and ground geophysics conducted by Denison 1981-Denison completed a drilling program over the showing area (CBS 5072). (AF 74G12-0020) 1987-Lake sediment sampling was completed. CBS 5072 lapses in April 1987. 1994- Uranerz (operator) completes a boulder sampling program. 1995- Uranerz completed TEM surverys, surficial geology interpretation and boulder geochemistry over two permits (MP 1175 and MP 1176). The surveys identified 2 EM anomalies and 2 or 3 conductive trends. (AF 74G14-0012) 1996- Uranerz completed TDEM surveys and Boulder sampling over the showing area. (74G-0015) 1997- MPP 1175/1176 lapse. Virgin River Project consists of 5 claims (CBS 7791, 7792, 7793, 7794, 7795). Uranerz maintains 100% interest. Uranerz conducted TEM surveys and a drill program (# VR-01 & -02). (AF 74G12-0034). 1998- Uranerz completed airborne GEOTEM survey. 8 DDH were completed, all targeting the “c” conductive trend. Uranerz maintains a 98% interst in the prject, the othe 2% is held by Coronation Mines Ltd.(AF 74G-0016) 1999-UEM (operator Cameco) completed TEM surveys and successfully outlined 2 strong conductors in the area (C and E). 2 DDH completed, VR-11 to test the C conductor (maximum value of 312 cps) , and VR-12 to intersect highly anomalous uranium values in the sandstone (maximum value of 119 ppm U) 2000- UEM conducted a core petrographic study of existing drill holes, and drilled 3 additional holes (VR-13, 14 & 14W1). (AF-74G12-0036) 2002- UEM completed a program which consisted of core review/ resampling and diamond drilling (1 DDH) to continue testing the C conductor. Two mineralized zones were intersected. The first interval (845-847.6) returned assays of .11% U3O8 over 2.6m. The second interval, from 886.97-892 returned assays of .06% U3O8 over 5.03m. Lead, copper, boron and Nickel were also enriched (AF 74G12-0039). UEM also completed a drill program to test the moderately strong E conductor. (AF 74G11-0022) 2003- Moving Loop TDEM and Resistivity Surveys, Drill core review of 12 drillholes on UEM-owned property. An anomaly was identified cutting the C conductor. (AF 74G12-SE-0040) 2004-98% UEM Inc & 2% Formation Capital Corporation (Coronation Mines Ltd)- 2 holes are completed by Cameco (VH-017, 018 in addition to a small-scale light hydrocarbon soil survey. VR-017 intersected .0656% U3O8 over 2.5m (845-847.5m). DDH VR-018 (Centennial Discovery Hole) intersected perched mineralization at 2 intervals. The first interval (710.5-711.7m) returned assays of .28% U3O8 over 1.2 m with associated Nickel, Lead and Vanadium. The second interval, (752-763.8) returned assays of 1.00% U3O8 over 10.8m with associated lead and vanadium. (74G12-0042) 2005- Cameco completed an exploration program which included Ground Magnetic and EM Geophysical Surveying, geochemistry, quaternary mapping and a drill program designed to follow up the mineralization intersected in 2004. The best results were obtained in drillhole VR-018W2; 25.6% U3O8 over .5 meters. (AF 74G12-SE-0045). All of the high-grade intersections were located just above or slightly beneath the Athabasca/Virgin River Domain unconformity. 2008- Cameco completed a diamond drill program and 20.25 line-km of DC resistivity surveying. Significant mineralization was intersected in seven holes. VR-031W1 returned average assay of 7.62% U3O8 over 17.8 m, VR-033W1 returned average assay of 7.48% U3O8 over 17.9 m (.1% grade cut-off). Resistivity surveying was successful in defining the conductive graphitic pelitic basement east of the fault, the c (AF 74G12-0060). AF 74G12-0056 drill program. Hole VR-022 intersection of 0.71% U3O8/15.5 m from 778.7-794.2 m in fractured Athabasca Gp. sandstone. Hole VR-022W2 (wedge): 2.48% U3O8/19.2 m from 781-800.2 m at the basal unconformity. Hole VR-023: 0.78% U3O8/3.9 m from 811-814.8 m. Hole VR-024: 2.63% U3O8/7.2 m from 820.3-827.5 m. AF 74G12-0059 drill program. Hole VR-026: 0.33% U3O8/3.6 m from 739.7-743.3 m in Athabasca sandstone. Hole VR-027: 0.69% U3O8/15.7 m from 800.9-816.6 m immediately above the unconformity in Athabasca Gp. Hole VR-027W1 (wedge): 2.19% U3O8/10.8 m from 808-818.8 m in Athabasca Gp. immediately above the unconformity. Hole VR-027W2: 6.65% U3O8/20.2 m from 800.7-820.9 m at the unconformity. Hole VR-029: 0.46% U3O8/6.5 m from 796.5-803 m in basement immediately below the unconformity. Hole VR-029W1: 9.35% U3O8/5.0 m from 797-802 m at the unconformity. AF 74G12-0061 drill program. Hole VR-019W1 (wedge): 0.91% eU3O8/1.7 m from 641.7-643.4 m in the Athabasca Gp. Hole VR-027W3: 1.51% U3O8/9.9 m from 806.8-816.7 m in basal Athabasca Gp. Hole VR-027W4: 2.46% U3O8/32.2 m from 797-829.2 m at the unconformity. Hole VR-031W2: 4.46% U3O8/11.5 m from 794.5-806 m at the unconformity; and 1.51% U3o8/6.0 m from 811-817 m in the basement. Hole VR-031W3: 8.78% U3O8/33.9 m from 797-830.9 m immediately below the unconformity. Hole VR-031W4: 7.14% U3O8/12 m from 800-812 m at the unconformity. Hole VR-031W5: 4.58% U3O8/14.4 m from 803-817.4 m at the unconformity. Hole VR-036W3: 1.74% U3O8/7.9 m from 812.9-820.8 m at the unconformity. Hole VR-037W2: 1.63% U3O8/10.8 m from 785-795.8 m immediately below the unconformity. Hole VR-038W2: 3.98% U3O8/20.2 m from 823-843.2 m at the upper basement. Diamond drill program in 2010 (AF 74G12-0062) better intersections. Most are wedge holes from previous holes. Hole VR-019W2 (wedge) (NAD WGS 84/Zone 13, 6386001 N, 345567 E; 26 azimuth/ -88.6 inclination; 790.5 m unconformity depth (UC); 866 m end of hole (EOH)) with an intersection of 0.46% U3O8/2.8 m from 641.9-644.7 m in Athabasca sandstone. Hole VR-019W3 (84/13, 6386001 N, 345567 E; 330/-86.9; 790 m UC; 842 m EOH) with intersections of 0.27% U3O8/1.9 m from 647.1-649 m in Athabasca sandstone and 0.19% U3O8/1.5 m from 797.2-798.7 m associated with clay gouge in basement quartzite. Hole VR-026W1 (84/13, 6386507 N, 345765 E; 127/-88.8; 837.8 m UC; 879.4 m EOH) with intersections of 0.21% U3O8/6.2 m from 742.1-748.3 m in Athabasca sandstone and 0.10% U3O8/15.5 m from 842.5-858 m associated with a clay-altered fault zone in basement. Hole VR-029W2 (84/13, 6385963 N, 345516 E; 144/-88.7; 799.4 UC; 857 m EOH) with an intersection of 7.46% U3O8/13.2 m from 800.4-813.6 m below the UC associated with a clay-altered fault zone in quartzite. Hole VR-038W3 (84/13, 6386285 N, 345528 E; 100/-84.1; 830.9 m UC; 851 m EOH) with an intersection of 0.89% U3O8/9.1 m from 815-824.1 m in altered and fractured Athabasca sandstone. Hole VR-040W1 (84/13, 6385970 N, 345358 E; 112/-87.4; 812.8 m UC; 872.5 m EOH) with an intersection of 0.13% U3O8/1.5 m from 812.3-813.8 m straddling the UC in altered sandstone and basement. Hole VR-040W2 (84/13, 6385970 N, 345358 E; 121/-79.3; 820 m UC; 887 m EOH) with an intersection of 8.4% U3O8/9.0 m from 823-832 m below the UC in faulted quartzite. Hole VR-040W3 (84/13, 6385970 N, 345358 E; 110/-80; 825.2 m UC; 872 m EOH) with an intersection of 0.41% U3O8/1.5 m from 825.5-827 m below the UC in clay-altered semipelite. Hole VR-041W1 (84/13, 6386615 N, 345783 E; 132/-84.5; 851 m UC; 872.4 m EOH) with an intersection of 0.16% U3O8/8.6 m from 848.8-857.4 m straddling the UC and associated with faulting. Drill hole VR-042 (84/13, 6385983 N, 345764 E; 100/-86; 811.4 m UC; 896 m EOH) with an intersection of 0.38% U3O8/18.8 m from 790.4-809.2 m above the UC in altered, fractured and faulted sandstone. Hole VR-042W1 (84/13, 6385983 N, 345764 E; 130/-85.3; 819.2 m UC; 869 m EOH) with an intersection of 1.93% U3O8/8.3 m from 810.9-819.2 m immediately above the UC in clay-altered, faulted sandstone. Hole VR-042W4 (84/13, 6385983 N, 345764 E; 98/-85.6; 829.4 m UC; 914.4 m EOH) with an intersection of 0.15% U3O8/6.5 m from 811.9-818.4 m in clay-altered and fractured sandstone. Hole VR-044W1 (84/13, 6386615 N, 345790 E; 129/-80.9; 825.7 m UC; 902.4 m EOH) with an intersection of 1.05% U3O8/0.4 m from 832.2-832.6 m in clay/sericite altered, faulted quartzite. Drill program in 2011 (AF 74G12-0063) better intersections. Hole VR-042W5 (wedge hole) (NAD WGS 84/Zone 13, 6385983 N, 345764 E; 130 azimuth/-89 inclination; 811.2 m depth to unconformity (UC); 878 m end of hole (EOH) with an intersection of 2.23% U3O8/22 m from 790-812 m at and above the UC in clay-altered, fractured Athabasca sandstone. Hole VR-046 (84/13, 6386456 N, 345636 E; 160/-82; 828.6 m UC; 936.5 m EOH) with an intersection of 1.0% U3O8/24.8 m from 799.4-824.2 m in clay-altered and fractured sandstone. Hole VR-046W1 (84/13, 6386456 N, 345636 E; 175/-80.5; 830.8 m UC; 1073 m EOH) with an intersection of 1.73% U3O8/3.5 m from 821-824.5 m associated with clay-altered fractures, breccia and gouge in sandstone. Hole VR-046W2 (84/13, 6386456 N, 345636 E; 193/-83.3; 835 m UC; 910 m EOH) with intersections of 0.58% U3O8/5.0 m from 818.5-823.5 m and 0.93% U3O8 U3O8/1.5 m from 827.9-829.4 m associated with faulted, fractured and brecciated sandstone with drusy quartz. Hole VR-049 (84/13, 6386038 N, 345618 E; 100/-80; 825.5 m UC; 924.5 m EOH) with an intersection of 0.33% U3O8/44.6 m from 781-825.6 m at and above the UC associated with fractures, clay gouge and disseminations in sandstone. Hole VR-049W1 (84/13, 6386038 N, 345618 E; 107/-79.6; 826.6 m UC; 836 m EOH) with an intersection of 0.29% U3O8/41 m from 786-827 m in the same as VR-049. Hole VR-051 (84/13, 6387711 N, 346507 E; 90/-85; 858.3 m UC; 941 m EOH) with intersections of 0.59% U3O8/5.9 m from 822.5-828.4 m in altered, fractured sandstone and 0.27% U3O8/23.2 m from 857.8-881.9 m associated with a clay/sericite altered fault zone in basement quartzite.

Reserves and/or Resources