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CSE : GXP | FRA : HW3 | OTC : GXPLF

CSE : GXP | FRA : HW3 | OTC : GXPLF

CSE : GXP | FRA : HW3 | OTC : GXPLF

Uranium

MCKenzie Lake

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INTRODUCTION

MCKenzie Lake uranium

McKenzie Lake Property Location and Claim Map

OWNERSHIP : Greenridge 100% – Purchased four claims from a third party vendor and acquired a fifth claim by staking in 2021. 2% NSR on four of the five claims. 1% subject to repurchase option by Greenridge at any time for $1 million.

SIZE : 5 claims totaling 6,916ha.

LOCATION: Eastern margin of the Athabasca Basin, ~20 km north of the Company’s Javelin uranium project.

Regional Significance

  • Located within the Wollaston Domain basement rocks, which host prolific uranium mines such as Key Lake, McArthur River, Cigar Lake and Rabbit Lake.

  • New basement-hosted uranium is actively being explored for both in the Athabasca Basin and in particular at the basin edge, where the Triple R deposit ( was discovered by a joint venture in Patterson Lake Corridor, between Greenridge’s predecessor company, Alpha Minerals Ltd. and Fission Uranium Corp.

  • Recently, surface high-grade uranium mineralization has been sampled near Mckenzie Lake by Valor Resources Limited and in exploratory drilling by 92 Energy Ltd. and Baseload Energy Corp.

McKenzie Lake Property Location and Claim Map

exploration history

McKenzie Lake Exploration 2023

  • In April 2023, Greenridge applied to the Government of Saskatchewan for a low-impact, surface exploration permit on McKenzie Lake as follow-up to a high-resolution magnetic and radiometric airborne survey and an initial site visit Greenridge carried out in late 2021. The exploration permit was subsequently received in late August 2023.
  • The high-resolution airborne magnetic and radiometric survey at McKenzie Lake flown by Special Projects Inc. provided detailed geophysical information on the geological structures present on the Project and identified radiometric “hot spots” for future investigation. Greenridge subsequently employed artificial intelligence analysis provided by KorrAI of Halifax, NS, to assist in the selection of target areas for surface prospecting at McKenzie Lake.
  • Three samples of interest were collected from boulder fields in the brief site visit to McKenzie Lake; samples 149616 (844 ppm U-total, uranium assay was 0.101% U3O8), 149617 (273 ppm U-total) and 149618 (259 ppm U-total). These uranium results, in particular the 844 ppm U-total (and corresponding 797 ppm U-partial) in sample 149616 are anomalous and warrant further investigation.
  • Sample 149616 was collected from a boulder described in the field as an orthogneiss with layers of potassium feldspar-quartz and chlorite-actinolite. Trace galena and minor clay alteration and sericite were observed. A subsequent review of the geochemical analytical results (high calcium) and sample photographs suggests the rock is part of the calcareous arkose or calc-silicate rocks that are part of the Wollaston Domain metasediments. These calcareous arkose and calc-silicate rocks are part of the package of rocks that are mapped in this area by the Saskatchewan Geological Survey. Elevated iron and magnesium values in sample 149616 could be of hydrothermal alteration (chlorite, +/- hematite) that may be associated with the uranium mineralization. Of note is that the nearby near-surface Ackio zone uranium mineralization discovered in 2021 by Baselode Energy Corp. is in part hosted by calc-silicate rocks of the Wollaston Domain (Source: https://baselode.com/projects/hook-project/).
Mckenzie Lake Geology Map

Mckenzie Lake uranium

Earlier Exploration

  • Greenridge completed a first-pass, high-resolution airborne magnetic and radiometric survey at Javelin and McKenzie Lake. The airborne radiometric survey method is the same system used to detect buried uranium-bearing boulders at Patterson Lake in 2011, which contributed to the discovery of Fission’s Triple R deposit in November 2012.

  • In October 2021, Greenridge commenced a follow-up helicopter-supported ground prospecting program at Javelin and McKenzie Lake. This program targeted radioactive anomalies identified from the airborne radiometric and magnetic survey.

National Instrument 43-101 Disclosure
The technical information on this web page has been reviewed and approved by Sierd Eriks, P.Geo. (Retired), who is a Qualified Persons in accordance with the Canadian regulatory requirements set out in NI 43-101. Readers are cautioned that some of the technical information described on this web page is historical in nature; however, the historical information is deemed credible and was produced by professional geologists/geoscientists in the years discussed.

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