Historical Showings, Geology & Various Surveys Completed at
Figure 1 – Localized Nut Lake Property Geology Map. Source GSC Open File 4236. Abbreviations: PDs – Proterozoic Dubawnt Sediments, Agn / Ar-gn – Archean granitic rocks, Pt-g – Undivided Granites
Historical Showing Highlights
Historical exploration undertaken by
Tundra Showing
- Discovered in
July 1977 and named the Tundra showing due to its proximity to a syenite U3O8 anomaly on the lakeshore. - Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹.
- Drilling extended the depth of mineralization to 20 feet vertically below the surface.
- The structure appears to steepen with depth to about 80-85°.
- A total of 17 holes amounting to 568 ft. of drilling were completed.
Heartbreak and Lakeshore Showings
- The Heartbreak showing uncovered two pitchblende fractures in an area where a swarm of biotite trachyte occurs, 200 meters to the east-southeast of the Tundra showing.
- The most noteworthy samples were from the Heartbreak showing which returned samples across a 3.0” and 3.5” fracture that assayed 2.11% U3O8 and 4.36% U3O8 respectively.
- Fracture descriptions and assay results indicate significant mineralization potential.
- Frost heave on the surface suggests a potential strike length for the fractures.
- Two noteworthy grab samples yielded 0.32% and 0.15% U3O8.
- The Lake showing was located through general prospecting and is situated beside a biotite feldspar trachyte dike.
- It comprises numerous anomalous fractures containing chloritic mafic alterations, sulphides, hematite, and uranium mineralization.
- Some fractures cut across the felsic to mafic gneiss host rock, while others run subparallel to it.
- This suggests that the mineralization and alteration may be controlled by fractures, with a foliation influence. It is likely that some of these fractures extend into the water.
Geology of
Regionally, the Project lies along the eastern edge of the northeasterly trending wedge of Paleohelikian or
Archean gneisses are generally granitic to granodioritic in composition, with thin inter-layered bands of paragneiss or amphibolite. Syenites within the area are predominantly red, aphanitic, microsyenite, with some hornblende syenite locally. Microsyenite dikes intrude all other rock types along a northerly trend, exhibiting varying degrees of brecciation, especially near fault zones. These rocks contain variable amounts of magnetite, chlorite, disseminated hematite, and pyrite, with accessory zircon noted. The microsyenites are the most radioactive rocks in the area, containing an average of 100 ppm U, with uranium believed to be bound up in refractory minerals¹ (Please see Figure 1).
Surveys Completed at the
An abundance of both Government and industry geological / geophysical / hyperspectral surveys have been conducted over the Project area including: a regional residual magnetic geophysical survey conducted by the
Lines for the 1979 geophysical surveys were spaced 100m apart with 24m to 50m station intervals.
- Several interesting anomalies resulted from the survey including a pattern indicating a north-northwesterly trending structure of interest.
- Anomalies are likely related to a fault zone, continuous with a VLF-EM anomaly.
- A major anomaly was identified from “L14W to L2S and 14E to 19E”. This anomaly is not known to be related to any specific feature and should be followed up on.
- Identification of north trending anomalies which may be related to structural or lithological features.
- Magnetic anomalies show less distinct north to northwesterly trends compared to VLF-EM map.
- Anomalies in northwest section related to syenitic intrusive rocks.
- Irregular pattern in this area possibly due to close-spaced dikes and lenses of mafic gneiss.
- A gravity survey is recommended to pair with both surveys moving forward.
Figure 2 - Regional Magnetics showing a strong NE-SW trending Fault3
Helium is a decay product of Uranium and is an exploration vector for buried uranium deposits. Helium is released as a “daughter” product of radioactive decay as uranium breaks down into other elements. As helium is a very light element it migrates through the overburden and into the atmosphere. Where the release of helium is concentrated enough, it will have a spectral signature in specific wavelengths that can be seen by satellite sensors. These are in the Visible-Near Infra-Red (VNIR) and Short Wave Infra-Red (SWIR) wavelengths parts of the spectrum. The Sentinel-2 satellite data contains spectral bands which can be processed to identify areas with an anomalous helium spectral signature. A stronger spectral signature in the helium wavelength could be due to a buried radioactive source (Please see Figure 3).
- The survey identified 2 clusters with anomalous spectral responses that are coincident with a northeast-trending structure identified by geophysical surveys.
- These two target areas have not historically seen extensive exploration, and therefore warrant ground truthing to explain the helium response.
Figure 3 -
About The Nut
The Project is located approximately 55km north of the Angulak Uranium Deposit² or 180Km southwest of
In 1979,
The Project hosts high grade vein hosted grab samples of up to 4.36% U3O8, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni¹.
During the 1979 field season, geological mapping at a scale of 1:1,000 was completed on a major portion of the Project. This was concurrent with prospecting on, and in the immediate area of the Project. Results from prospecting were the discovery of two (41 m wide) syenite dikes and a frost heaved area of felsic gneiss with up to 3,000 cps on fracture surfaces. Two significant Uranium bearing showings were discovered, the “Lake Showing” and the “Heartbreak Showing”. The most noteworthy was the Heartbreak showing which revealed 3.0” and 3.5” samples across a fracture that assayed 2.11% U3O8 and 4.36% U3O8 respectively. The results were followed up with a radon gal survey, a VLF-EM survey and an overburden sampling program. The radon survey results showed that the response is irregular with several good highs and the VLF-EM survey showed a series of northwesterly trending anomalies. It was concluded that further drilling of the
The Project and surrounding proximal area have seen approximately 805ft of
The combination of historically defined anomalies and modern exploration techniques provides prime ingredients for the potential of discovering a high-grade uranium system within the Project area. The Nut
References
1Source: 1978 Assessment report (number 81075) by
2Source: Reported by ValOre
3Source: Tschirhart, V. L., Morris, W. A. & Oneschuk, D. (2011). Geophysical series, geophysical compilation project,
4Source: Wilkinson, L. & Brown, N. (2000). Selected geoscience data from the
National Instrument 43-101 Disclosure
About
On Behalf of the Board of Directors
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; and the Company's anticipated exploration program at the Project. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
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Figure 1
Localized Nut Lake Property Geology Map. Source GSC Open File 4236. Abbreviations: PDs – Proterozoic Dubawnt Sediments, Agn / Ar-gn – Archean granitic rocks, Pt-g – Undivided Granites
Figure 2
Regional Magnetics showing a strong NE-SW trending Fault3
Figure 3
Hyperspectral Survey
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