OWNERSHIP : Greenridge 100%
SIZE : 28 claims covering 23,178 ha acquired by staking in 2021.
LOCATION: Northern margin of the Athabasca Basin near Richards Lake, SK, ~ 60 km west of the Hamlet of Stony Rapids, which has year-round all-weather road access and a commercial airport.
The property is situated within the Snowbird Tectonic Zone, a major geological structure that transects the Athabasca Basin and includes several parallel northeast-trending fault zones including the Black Lake Fault. Prospective for unconformity-style deposits.
The historic Nisto Mine, which produced ~96 tonnes grading 1.38% U3O8 in the 1950s is located on the northwest side of the Black Lake fault to the east of the property. The Fond du Lac uranium deposit, a small shallow uranium discovery found in 1970 is located 15km northwest of the Sabre property.
Underexplored district with relatively shallow depths to the Athabasca sandstone unconformity (estimated to range from 210 to 420 m), with potential for unconformity-style or deeper, basement-hosted uranium mineralization.
On October 25, 2022 Greenridge announced the completion of a prospecting program at Sabre. Two radioactive zones were located on surface in the Athabasca sandstone by Greenridge’s prospecting team adjacent to an interpreted structural zone of quartz vein brecciation.
In early 2023, Greenridge carried out a ground Time Domain Electromagnetic (“TDEM”) survey to follow-up on the results of a historical MegaTem airborne survey flown in 2005.
In 2006, UEX Corporation (“UEX”) drilled hole ML-02 without the benefit of a confirmatory ground EM survey and did not intersect the interpreted airborne conductor. Greenridge’s 2023 TDEM survey results over the area of hole ML-02 confirmed a basement conductor near the drillhole. Computer modeling of the 2023 TDEM conductor in relation to the collar location of hole ML-02 showed that UEX’s drillhole missed the targeted conductor by approximately 275 metres, thus creating a new and well-defined drill target at Sabre.
Additional work at Sabre in 2024 may include airborne magnetic/radiometric surveys, airborne electromagnetic surveys, surface prospecting, mapping and Spatiotemporal Geochemical Hydrocarbon (“SGH”) soil surveys across the highest-priority areas to optimize potential drill targets.
Historical prospecting discovered uranium-bearing sandstone boulders and outcrop with up to 375 parts per million (“ppm”) uranium.
Only 5 historical drill holes on the property, which identified intense dravite alteration and significant hydrothermal activity.
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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