LUR:CNX

LURAF:OTCQB

Moran Lake

Labrador Uranium - Image - Bird Eye view

SNAPSHOT

Location:

Labrador, Canada (Central Mineral Belt)

Ownership:

100% Interest

Deposit Type:

Structurally-controlled within fracture systems and shear zones

Stage:

Exploration

Primary Minerals:

Uranium, Vanadium

OVERVIEW

The Moran Lake project is located in Labrador, Canada within a bona-fide uranium camp in the Central Mineral Belt. The Central Mineral Belt is host to several other uranium deposits including Paladin Energy’s advanced Michelin project. The “C” zone was the subject of significant exploration activity between 2006 and 2013. In March 2011 a previous operator published a combined uranium and vanadium 43-101 compliant resource estimate.

MINERAL RESOURCES

Category
Tonnes (m)
U3O8 Grade (ppm)
Contained U3O8 (m lbs)
V2O5 Grade (ppm)
Contained V2O5 (m lbs)
Indicated
14.7
340
5.2
1517
42.8
Inferred
28.3
334
4.4
1596
93.6

This table reflects historical mineral resource estimates considered to be a “historical estimate” under NI 43-101 and is not considered by the Company to be current.

GEOLOGY

Uranium mineralization in the area is structurally controlled, typically hosted within fracture systems and to a lesser extent within shear zones. In outcrop, local faulting, brecciation and alteration, all of uncertain age, are associated with the uranium and copper mineralization at the Moran Lake C Zone. Uranium mineralization mainly occurs in two distinct zones, referred to as the Upper C (“UC”) and Lower C (“LC”).

Mineralization in the UC Zone is hosted within brecciated, hematite altered and/or bleached mafic volcanics and hematitic cherts of the Joe Pond Formation, while mineralization in the structurally underlying LC Zone is hosted predominantly within chloritized (reduced) sandstones of the Heggart Lake Formation. The UC Zone also contains vanadium mineralization hosted mainly by hematized and brecciated mafic volcanic rocks of the Joe Pond Formation and brecciated gabbro or diabasic intrusives. In many areas, the vanadium concentration is directly proportional to the intensity of hematization and brecciation. The occurrence of vanadium mineralization may coincide with, but is not restricted to, zones of uranium mineralization.

PLANNED WORK

  • Develop a Machine Learning and AI program using available compiled data to generate targets
  • Final report from CMB Working Group will provide recommendations for future exploration work
  • Permit 2022 exploration field camp
  • Initial drill testing of top priority targets
SIGNUP FOR LATEST NEWS