Will Lightning Strike A Third Time For Dr. Boen Tan?
A Renowned Exploration Geologist Is Pursuing Another Major Uranium Deposit in Saskatchewans Athabasca Basin
In late January, Cameco Corps director of advanced exploration tantalized the audience at Vancouvers Minerals Exploration Roundup, discussing the geology, and especially the size, of his companys Millennium uranium deposit. Drill indicated resources are estimated at 449,000 tonnes with a grade of 4.63 percent uranium oxide. Additional tonnage is inferred at the lesser grade of 1.81 percent, but still a respectable grade by anyones calculations (one percent of uranium oxide is reportedly comparable to about 50 grams of gold). Because of soaring spot uranium prices, this deposits gross value might someday conceivably exceed $2.4 billion.
The geological setting of the Key Lake Road shear zone is quite similar to the Millennium deposit, Dr. Boen Tan told StockInterview. The Key Lake Road shear zone is located within the same north-northeastern structural trend as the Millennium deposit. Camecos (NYSE: CCJ) director of advanced exploration, Charles Roy, called the Millennium uranium deposit, the most...
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