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|  Project Highlights
Previous Exploration Work The Two Time Zone is located approximately 17 km to the northwest of the C Zone in the Central Mineral Belt, Labrador. It is the most advanced prospect in the package of approximately 4000 claims. The Two Time Zone was discovered following an airborne radiometric survey completed by Universal Uranium/Silver Spruce Resources in 2006. Follow-up work included prospecting, soil and stream geochemistry, scintillometer surveys and hand trenching. This helped to further identify potential targets for subsequent drilling. To date 41 holes have been drilled on the JV Property, 40 of which targeted the Two Time Zone. A single hole tested a RadonEx soil anomaly located north of the Two Time.
Significant Drill Results:
A recently completed independent NI 43-101 resource estimate was carried out based on drilling at the Two Time Zone up to February 4, 2008. The report estimates an indicated resource of 2.33 million pounds of uranium (1.82 million tonnes grading 0.058% U3O8) and an additional inferred resource of 3.73 million pounds (3.16 million tonnes grading 0.053% U3O8). During the summer of 2009, a geological mapping, prospecting and sampling program was conducted to evaluate airborne geophysical and ground geochemical anomalies. The program confirmed the presence of historic high-grade mineralized float at the CMB-East (CMB-E) Property and also resulted in the discovery of four new uranium targets, two of which are located on the CMB-Jacques Lake (CMB-JL) Property and two located on the CMB-North East (CMB-NE) Property. At the CMB-E Property, 2.19% U3O8 was returned from the re-sampling of strongly altered and mineralized granitic float. This sample is located proximal to interpreted airborne magnetic features that appear to be associated with Fronteer's Jacques Lake Deposit, which is located approximately 11 kilometres to the southwest. Additional work is warranted to determine the source of the high-grade mineralization. Exploration activities on the CMB-JL Property were successful in outlining a significant new area of mineralized granite float and bedrock called the South Brook Target. A total of 26 samples were collected from this target with assays ranging from 0.03% to 0.46% U3O8. Additional work carried out approximately 5.5 kilometres southeast of the South Brook Trend has outlined a second target coincident with a two kilometre long, linear airborne radiometric anomaly. This new target is called the Running Man Target and 9 of the 10 float samples assayed from 0.03% to 0.11% U3O8. Two new significant showings of uranium mineralization were discovered on the CMB-NE Property, one of which is hosted in altered granitic rocks and is referred to as Big Bear. Four grab samples were collected from this new zone, which assayed from 0.02% to 0.10% U3O8. A second showing referred to as the JJ Showing was discovered two kilometres west-southwest of Big Bear. This showing consists of magnetite-pyrite mineralization in felsic volcanic rocks that assayed 0.13% U3O8 in one sample from bedrock. Additional exploration work consisting of soil geochemical surveys, ground geophysical surveys, trenching and further prospecting and mapping is being planned for the above mentioned target areas. Technical Reports Click here for the complete NI 43-101 report on the CMBNW Property (Two Time Zone) | | |||||
