Aldrin Resource Corp. announces the immediate commencement of a high-resolution airborne magnetic and electromagnetic geophysical survey covering the Triple M Property (“Property”). The survey is being flown by Aeroquest Airborne, a division of Geotech, using their advanced helicopter-borne, time domain electromagnetic VTEM plus system and magnetic gradiometer. The survey will cover all of the Triple M Property at 200 m line spacing, and is expected to begin flying today. Flying the survey over the Property is anticipated to take 6 to 9 days.
The survey is designed to detect conductors and magnetically defined structures that may define targets for uranium mineralization. Such conductive and magnetic anomalies may extend the mineralized structures associated with Alpha Minerals Inc and Fission Uranium’s (“Alpha/Fission”) reported high-grade Patterson Lake discovery 10 km east on the adjacent property to the Triple M Property. Alpha/Fission reportedly used a similar Aeroquest VTEM airborne survey to define conductors associated with their high-grade intersections on their Patterson Lake property, based on information contained in Alpha’s recently released independent technical report available on SEDAR (dated April 23, 2013). Some maps in that technical report suggest that VTEM conductors extend to the contiguous edge of the Triple M Property with the Patterson Lake discovery property. Geology is indicating that the conductors and structures may extend onto the Triple M Property from the Patterson Lake discovery and this will be confirmed by the airborne survey.
Aldrin’s Triple M Uranium Property is located in the Patterson Lake Area of Saskatchewan. The property consists of 6 claim blocks totalling 12,001 ha and is bordering the Fission Uranium Corp./Alpha Minerals Inc. discovery at Patterson Lake 9 km south to 11 km west of their recent discovery.
The Property is located just outside the southwestern margin of the Athabasca Basin, which currently accounts for 20% of the world’s total uranium production. The Athabasca Basin’s uranium production comes primarily from Cameco’s high-grade (16.5% U3O8 after allowance for dilution) McArthur River Uranium Mine, which alone produced 14% of the world’s supply in 2011. Other major current and past-producers from the Athabasca Basin include the Cluff Lake, Key Lake, Maclean Lake and Rabbit Lake Uranium Mines, as well as the soon-to-open Cigar Lake Project (Fig. 1). The Triple M Property extends from 400 m to 20 km south of the Athabasca Basin margin. The Property is adjacent to Fission Energy Corp’s and Alpha Minerals Inc.’s Patterson Lake South JV property (“Fission” or “Fission / Alpha JV”), where Fission recently announced discovery of high-grade uranium mineralization (Fission NR dated December 5, 2012) in basement 5 km southwest of the Athabasca Basin margin . The Triple M Property’s location adjacent to the Athabasca basin margin, and near the recent high-grade uranium discovery at Patterson Lake has motivated Aldrin to commence uranium exploration.