Knox reported in early 2020 that this Technical Report is prepared for Standard Uranium Ltd. The report summarizes historic exploration on and near the Davidson River Property, geophysical work carried out by Dahrouge Geological Consulting Ltd. in 2015, and airborne geophysical surveys carried out by
Goldak Airborne Surveys in 2016 and Geotech Ltd. in 2018.
The report further provides the author’s review of interpretations carried out by Condor North Consulting ULC in 2019, the results of a ZTEM survey carried out by Geotech Airborne Geophysical Surveys in May 2019, and field work conducted in July 2019 by Dahrouge.
The Property is located in northwest Saskatchewan, Canada, and lies south of the southern margin of the Athabasca Basin. The Property is situated approximately 18 km west of Patterson Lake and is bounded by the Alberta-Saskatchewan border to the west. It is located approximately 135 km northeast of the city of Fort McMurray, Alberta and 125 km north of La Loche, Saskatchewan.
The Property consists of four blocks of contiguous mineral dispositions (“claims” or “tenures”), totaling 21 dispositions (Table 4-1; Figure 4-2). The Property lies within NTS sheet 74F012. Seven of these claims (MC00013524 through MC00013531) are currently in good standing and are 100% owned by Jody Dahrouge, who has granted Standard Uranium (through its wholly-owned subsidiary, TY & Sons (Saskatchewan) Explorations Inc.) the option to acquire them. The other 14 claims were staked and are 100% owned by Standard Uranium. The claims that constitute the Property are listed in the online Mineral Administration Registry Saskatchewan (MARS) as being in good standing until May 1, 2020, or August 29, 2020. Details are presented in Section 4.
The Property is situated approximately 35 km south of the southwest margin of the Athabasca Basin and is underlain by Phanerozoic sediments of the Cretaceous Mannville Group, and basement rocks of the Lloyd and Clearwater domains of the Archean Rae Province. Although rock outcrops have not yet been discovered on the Property due to glacial cover, it is believed that strata of the Cretaceous Mannville Group overlie the Lloyd and Clearwater domains.
The Mannville Group consists of “interbedded non-marine sands and shales overlain by a thin, non-marine calcareous member, which is overlain by marine shales, glauconitic sands and non-marine salt-and-pepper sands” (Hayes et al. 2012). Regionally this unit is approximately 150 m thick; on the Property, thickness of this unit is yet to be determined. There is potential for some of the basement rocks to outcrop at surface in the low-lying valley bottoms of the Richardson and Davidson Rivers.
The deposit type being sought is “unconformity-associated uranium (± nickel) mineralization”. Mineralization of this type has not yet been found on the Property. The Property, however, is considered favorable for unconformity-related uranium± nickel mineralization due to the presence of linear magnetic features and electromagnetic conductors which may indicate graphitic lithologies, gravity lows that could represent clay alteration zones, historic lake sediment samples with uranium enrichment, and its proximity to other unconformity-related uranium deposits.
Most of the exploration relating to the Property and surrounding area was carried out between 1961 and 2007 and is therefore treated as historical. Methods of exploration included airborne geophysical surveys, mapping, drilling, geochemical lake- and stream-water sampling, lake sediment and soil sampling.
In 2006, Titan Uranium Inc. commissioned a MEGATEM® electromagnetic and magnetic survey which partially overlapped a north portion of the Property. This survey identified a series of weak to moderate electromagnetic conductive zones, trending northwest-southeast. Two holes have been drilled on the Property, both for oil and gas exploration. In 1974, Shell Canada Ltd. (“Shell”) assessed the area for oil potential and drilled one hole on the Property (Shell Clearwater 99-24). This drill hole intercepted glacial till, upper Mannville Group sediments, and Precambrian basement lithologies, indicating no oil potential in the area.
In 2007, Norwest Corp. (“Norwest”) drilled one hole on the Property and a second, less than 1 km south of Property. The hole on the Property drilled through glacial till into upper Mannville Group sediments and Precambrian basement rocks, while the hole south of the Property encountered glacial till directly overlying Precambrian basement rocks.
To date, no drilling targeting uranium mineralization has taken place on the Property. Starting in 1978, various companies collected samples for geochemical analysis on the Property. The first was Trigg Woollett Consulting Ltd., on behalf of Hudson Bay Mining. Lake sediment and water samples were collected and analyzed for copper, nickel and uranium. Four of the seven samples from this program that returned >3 ppm uranium are located on the Property, including the highest value of the survey at 21 ppm uranium. Samples from this survey averaged 0.55 ppm uranium (Ahuja and Woollett, 1978).
In 1978, the Geological Survey of Canada, in conjunction with the Saskatchewan Department of Energy and Mines, carried out a geochemical lake sediment and water survey, which partially covered the Property. Four of the highest ten uranium values (4.9 – 7.5 ppm uranium) came from samples collected on the Property (Hornbrook and Friske, 1988).
In 1981, Hudson Bay Mining completed follow-up sampling in search of uranium. Lake, stream, water, sediment and soil samples were collected. In conjunction with the soil sampling, a ground scintillometer survey was completed, which did not produce any anomalous results (McKenna, 1981).
In 2015, Dahrouge, on behalf of Declan Resources Inc., conducted a ground gravity survey over two targeted areas on the Property. The purpose of the survey was to identify low gravity anomalies in areas with previously recognized linear magnetic and electromagnetic trends, which could potentially be associated with uranium mineralization (McCallum and Mullan, 2015).
In 2016, 877384Alberta Ltd. commissioned Goldak Airborne Surveys to conduct an airborne geophysical survey of the central and northern part of the Property. This survey identified possible cross-cutting magnetic structures following aligned with topographic features and a total-count radiometric high, indicating that surface material was sourcing basement rocks (Mullan, 2017).
From January 13 to February 13, 2018, Geotech Ltd. performed an airborne Versatile Time Domain Electromagnetic (VTEM) survey on the Property, commissioned by Standard Uranium. A total of 1,557 line kilometres of geophysical data were acquired during the survey. The survey area was flown in a northeast to southwest (N 65° E azimuth) direction with traverse line spacing of 150 metres for most of the survey; however, line spacing was done at 600 meters in the southwest portion of the Property.
A follow-up helicopter-borne ZTEM survey totaling 762 line-kilometres at a line spacing of 250m was conducted in May 2019 by Geotech Airborne Geophysical Surveys (“Geotech”) to refine the Condor North Consulting ULC (“Condor”) interpreted targets at depth. A reconnaissance field program to prospect targets generated by Condor and to search for radioactive boulders was conducted between July 14 and July 21, 2019.
There are early-time conductive zones which are interpreted to be related to near-surface Devonian or Cretaceous sedimentary rocks that overlap on the Property in higher elevations. The mid-to-late time electromagnetic component of the survey has outlined several sub-parallel basement-hosted conductive zones. These conductive zones, parallel to the magnetic trends, are interpreted as being caused by graphitic or sulphide rich zones in the underlying Precambrian basement rocks. A detailed analysis by Condor has been independently reviewed by the author, and following such review the author has a high degree of confidence in the results of such analysis, refined interpretation detail and defined and ranked 26 target zones within the
conductive zones (Figure 9-1).
These zones are targets for basement-hosted uranium mineralization. Three target zones (“A”, “M”, and “R”) are the higher priority for drilling, with target zone “R” being the highest priority for Phase 1 of a diamond drilling program. Based upon the favorable geological setting and historic and recent exploration data, the author recommends a two-phase exploration program to expand knowledge of the Property geology and evaluate the potential to host
economically viable uranium mineralization.
Phase 1 should consist of about 625 m of a diamond drilling program of 2 holes at an estimated all-in cost of $400/m for a total cost of $250,000. Phase 2 would be contingent upon positive results from Phase 1. Phase 2 work would involve a diamond drilling program of 12-18 holes averaging about 300m each in depth, using targets identified in the first phase. The total cost for Phase 2 drilling of 5,000 m would be about $2,000,000.
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