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Results from the largest-ever multi platform electromagnetic survey program conducted in the Athabasca Basin continue to roll in for ATHA Energy (CSE: SASK). The company this morning revealed that surveys have been completed at the East Vista project, which is within the East Rim Exploration District.
A total of 2,218 line kilometres were flown under an MMT survey at East Vista, identifying 40 kilometres of conductors within the Wollaston-Mudjactic Transition Zone. The survey has suggested that the project supports the correct conditions for basement-hosted uranium mineralization.
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Three priority areas are said to have been outlined as a result of the survey, including the South Target, which has conductivity that intensifies at depth, the West Central Target, which hosts a strong conductive response in a transition zone that is next to a magnetic high, and the Northeast Target, which hosts a southeast trending conductor next to a mag high that is said to be indicative of a complex structural disruption.
“We are very pleased with the targets generated to date in an area that represents a very small fraction of our total ongoing exploration program. [..] As we continue our exploration strategy throughout the Athabasca Basin, we anticipate the updated geophysics combined with the ongoing historic geochemical compilation will guide future exploration, thereby decreasing uncertainty and increasing the probability of discovery,” commented Doug Adams, VP of Exploration.
The East Vista Project is found within 30 kilometres of the Key Lake Mine, which produced over 209 million pounds of U3O8 at 2.32% over a 19 year period. Notably, the Mudjactic Transition Zone, which the East Vista Project is found to be located on, is a corridor that is home to the Cigar Lake and McArthur River mines. Those two mines, operated by Cameco, represent the highest grade and largest high grade uranium mines globally.
The survey completed by ATHA Energy is part of a maiden exploration program being conducted across the company’s 3.4 million acres of claims in the region. The East Vista project itself consists of twelve mineral claims across 71,341 acres.
ATHA Energy last traded at $1.20 on the CSE.
FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
