A Premier Uranium Explorer in Canada’s Athabasca Basin
This ALX Uranium Corp. profile is part of a paid investor education campaign.*
ALX Uranium Corp. (TSXV:AL;FWB:6LLN;OTC:ALXEF) has built a strong portfolio of prospective uranium properties totaling over 200,000 hectares in one of the world’s richest uranium districts, Saskatchewan’s Athabasca Basin. The company is actively exploring its projects with a focus on integrating modern exploration techniques with historical data to identify high-priority drill targets.
The Hook-Carter project is the cornerstone of ALX Uranium’s portfolio and is on trend with some of the most notable uranium discoveries in the region, including the Triple R deposit at Patterson Lake South (PLS). In 2016, the company sold an 80 percent interest in the property to Denison Mines Corp. (TSX:DML) for 7.5 million common shares of Denison, and Denison has agreed to fund the first $12 million in exploration expenditures.
ALX Uranium has recently completed its 2019 winter drill program at Hook-Carter. Throughout the program, the company encountered favorable structure and alteration. Additionally, initial geochemical results show significant concentrations of uranium pathfinder elements.
In addition to its Hook-Carter project, ALX Uranium owns or has an interest in 20 other properties in the Athabasca Basin. Besides the Hook-Carter project, the company’s focus has been on developing the Close Lake, Newnham Lake, Black Lake, Lazy Edward Bay and Perch properties. For the other properties within ALX Uranium’s portfolio, the company is currently reviewing data and working on generating targets for upcoming exploration programs.
ALX Uranium is led by an impressive management and technical team with a wealth of experience in the uranium mining industry, specifically in the Athabasca Basin. ALX Uranium’s CEO Warren Stanyer has held corporate and director positions in several uranium companies, including Alpha Minerals, which was a 50 percent partner in joint venture responsible for the PLS uranium discovery made in 2012, now known at the Triple R deposit. ALX Uranium’s President and Chief Geologist Sierd Eriks has a long track record of success in the Athabasca Basin and directed the exploration programs responsible for establishing mineral resources for three uranium deposits. Finally, ALX Uranium’s Technical Committee Chairman Charles Roy has a 40-year uranium mining career which includes 33 years at Cameco Corporation. His expertise is centered on the unconformity uranium model and exploration methods in the Athabasca Basin.
ALX Uranium Company Highlights
- One of the strongest portfolios of uranium properties in the Athabasca Basin; drill‐ready projects and targets on trend with existing discoveries.
- Large land package in a district with well‐established infrastructure and low geopolitical risk.
- Exploration philosophy integrates modern techniques with historical database.
- Denison has committed to $12 million in exploration expenditures at Hook-Carter.
- The 2019 winter drill program at Hook-Carter encountered favorable geology and initial geochemical results are returning significant concentrations of uranium pathfinder elements.
- Exploration in 2018 completed at Newnham Lake, Lazy Edward Bay, Argo, Perch and Tango properties.
- ALX Uranium has the opportunity to acquire up to a 51 percent participating interest in the Close Lake uranium project.
- New nickel and cobalt projects acquired in Saskatchewan.
- Led by a professional team with extensive technical and field experience in uranium exploration.
ALX’s Uranium Projects in Canada’s Athabasca Basin
The Hook-Carter uranium project covers 20,522 hectares in the emerging PLS district located in the southwestern portion of Saskatchewan’s Athabasca Basin. In 2016, the company sold an 80 percent interest in the property to Denison Mines Corp. for 7.5 million common shares of Denison, and Denison has agreed to fund the first $12 million in exploration expenditures. The property lies at the northern end of three important structural conductor trends: Patterson Lake, Derkson and Carter.
The Patterson Lake trend hosts three of the Athabasca region’s most notable recent discoveries, which are within eight to 20 kilometers of Hook-Carter: Fission Uranium Corp.’s (TSX:FCU) Triple R deposits, NexGen Energy’s (TSX:NXE) Arrow deposit and the Purepoint Uranium Group Inc. (TSXV:PTU), Cameco Corp. (TSX:CCO) and Orano joint venture’s Spitfire zone.
The three discoveries are located at crosscutting structural trends along the northeast-southwest corridor, two of which host known uranium deposits. The residual total magnetic field map below shows that similar magnetic disruptions occur on the Hook-Carter property.
Between 250 and 700 meters of sandstone cover overlies the basement rocks that define the structural trends present at Hook-Carter, indicating the potential for both basement-hosted and unconformity-hosted uranium mineralization. The results of historical exploration work at Hook-Carter—including boulder and lake sediment sampling, airborne and ground electromagnetic (EM) surveys, and drilling—further indicate the presence of uranium mineralization on the property.
Historically at Hook-Carter, only five holes were drilled along the Patterson Lake Corridor and three holes on the Derkson Corridor prior to 2013. These holes were shallow with few of them drilled more than 100 meters past the sandstone unconformity, leaving the basement unexplored.
A 2014 interpretation report completed by Condor Consulting reviewed recent airborne EM and magnetic geophysical surveys conducted on the property by CGG Aviation and identified several high-priority target areas at Hook-Carter. In 2016, Peridot Geoscience completed an interpretation report that identified several geochemical and radiometric anomalies coincident with the targets described in the earlier Condor report.
As the operator of the property, Denison has agreed to fund the first $12 million in exploration costs. Following initial geophysical exploration work that was conducted in 2017, the company launched an inaugural drilling program in February 2018 totaling 3,062 meters. Initial results from four completed holes exhibited characteristics of a wide-spread alteration system. The features from this system include intense desilification of the sandstone as well as altered and faulted graphitic metasediments. Two holes also returned elevated radioactivity values of up to 184 counts per second.
The 2018 inaugural drilling programs at Hook-Carter tested an initial set of regional scale geophysical targets along 7.5 of the 15 kilometres of interpreted strike length of the PLC at the project. The nine completed reconnaissance holes, totaling 6,960 metres, successfully identified multiple prospective trends of strong hydrothermal alteration in both the sandstone and basement lithologies associated with graphitic basement structures. These features are consistent with unconformity-related mineralizing systems in Athabasca Basin uranium deposits and provide a strong indication of the continuation of the mineralizing system within the PLC at Hook-Carter.
In January 2019, ALX Uranium commenced its 3,900-meter winter drilling program at Hook-Carter. The goal of the program was to test additional high-priority geophysical targets that were identified in 2017. The company encountered favorable structure and alteration in the majority of the drill holes and initial geochemical results show significant concentrations of uranium pathfinder elements.
In April 2019, ALX Uranium signed a binding option agreement with Orano Group to earn a 51 percent participating interest in the 38,679-hectare Close Lake uranium project. Currently, the property is 74.40 percent held by Orano, 14.99 percent Cameco and 10.61 percent JCU (Canada) Company Ltd.
Numerous base metal and uranium showings have been discovered in historical records from 1978. The eastern boundary of the property adjoins the Cigar Lake uranium mine property and the McArthur River uranium property is to the south. Close Lake is accessible by winter trail from Cigar Lake and Points North Landing, each of which has all-weather road access and nearby infrastructure, including airports.
Historical drilling at Close Lake totals approximately 110,049 meters. Uranium mineralization has been intersected at or near the unconformity between the Athabasca sandstone and basement rock units at downhole depths ranging between 463 meters and 682 meters.
In 1985, a previous operator encountered a significant intersection of 1.52 percent U3O8 over 23 meters including 11.46 percent U3O8 over 2.5 meters on the Tucker Lake C-5 trend in the northeastern portion of the project. Follow-up drilling intersected 0.06 percent U3O8 over 1.5 meters and 1.21 percent U3O8 over two meters.
Drilling in 1997 on the C-1 East trend intersected a wide interval of 0.34percent U3O8 over 107.3 meters including 2.86 percent U3O8 over 8.5 metres and two percent U3O8 over 1.5 meters. Follow-up drilling in 1998 encountered 0.28 percent U3O8 over 0.5 meters and 0.06 percent U3O8 over 3.5 meters.
To date, the grades, widths and lithologies encountered provide evidence that Close Lake could host a mineralizing system similar to those previously found within the Wollaston belt, which has produced over 900 million pounds of U3O8 over the past 40 years.
The wholly-owned Newnham Lake uranium project covers 18,524 hectares at the northern margin of the Athabasca Basin. The geology of the property is prospective for uranium mineralization with a folded 25-kilometer strike length of conductive basement rocks present under a shallow sandstone cover of less than 100 meters in depth.
Historical exploration conducted in the 1980s by Saskatchewan Mining and Development Corporation encountered anomalous uranium in lake sediments and drill holes.
A suite of modern airborne and ground geophysical work (ZTEM, VTEM, gravity and magnetic surveys) was completed on the property by the previous operator. ALX Uranium re-interpreted and integrated the results of the historical surveys to search for deeper mineralization than was historically encountered, as most previous drill holes were stopped at very shallow depths. A 3D IP/resistivity ground geophysical survey was completed in 2017 as a complement to the geophysical compilation prior to drilling the best targets.
Recent reinterpretation of historical data along with modern exploration techniques suggests basement-hosted uranium style targets are present on the property.
The 2017 geophysical exploration program was focused on defining basement-hosted uranium targets up to 700 meters below unconformity. This led to the completion of a drilling program in 2018consisting of 1,164 meters in three holes to test high priority geophysical targets.
Highlights of the 2018 drilling program include:
- Hole NL18-001 intersected approximately 6.0 meters of elevated radioactivity straddling the Athabasca unconformity, which included visible pitchblende. A 5.7 metre interval averaged 0.035 percent U3O8 from 100.8 to 106.5 meters, including a sample containing 0.118 percent U3O8 over 0.5 meters;
- Hole NL18-002 encountered a fault zone just above the unconformity consisting of highly brecciated, broken and rubbly core with elevated radioactivity; and
- Hole NL18-003 intersected a large fault zone approximately 62 meters wide deep in the basement rocks with brecciation, fracturing and evidence of strong hydrothermal alteration.
In September 2017, ALX Uranium signed an option agreement with UEX Corporation (TSX:UEX) whereby ALX Uranium can earn up to a 75 percent participating interest in the Black Lake project in the northeastern Athabasca Basin. The company currently holds a 40 percent interest in the property. The Black Lake project consists of 12 mineral claims that total 30,381 hectares near Stony Rapids, Saskatchewan with all-weather access and nearby infrastructure. It also sits adjacent to ALX Uranium’s Gibbons Creek project.
In 2004, UEX intersected significant uranium mineralization with results of 0.69 percent U3O8 over 4.4 meters, including 1.09 percent U3O8 over 1.5 meters. This sparked UEX and other companies to conduct further work in the northern Athabasca Basin.
“Black Lake is an attractive project with great potential,” said Eriks. “ALX Uranium has the advantage of using a large, modern data archive to assist its process of developing new drill targets on underexplored areas of the Project.”
Since the agreement, ALX Uranium conducted drilling in 2017, which covered 2,830 meters across five holes. During the drilling, the company intersected pitchblende veinlets in drill core. In March 2019, the company initiated a radon and helium survey at Blake Lake.
Lazy Edward Bay
The wholly-owned Lazy Edward Bay uranium project covers 23,241 hectares along the southern margin of the Athabasca Basin. The property is located 55 kilometers west of the Key Lake uranium deposit and 55 kilometers east of the Centennial uranium deposit. Lazy Edward Bay hosts a shallow sandstone cover of less than 200 meters in depth and at least eight underexplored conductive trends.
Recent airborne EM and gravity, ground EM and radon‐in‐water surveys along with geochemical interpretation have led to defined targets for a future drill campaign on the property. ALX Uranium completed a low-level airborne radiometric and magnetic survey of approximately 4,000 kilometers in 2018.
The wholly-owned Perch project comprises 4,896 hectares and hosts over four kilometers of conductors. The property is located on the northeastern margin of the Athabasca Basin with a maximum unconformity depth of 100 meters. The property also sits approximately 41 kilometers east of the Nisto uranium deposit and 140 kilometers east of the Fond Du Lac uranium deposit.
While limited exploration has been conducted on the property, historical results include values from two drill holes of 30 centimeters of 422 ppm uranium and 60 centimeters of 427 ppm uranium. The drilling also encountered anomalous values of copper, nickel and zinc. ALX Uranium completed a ground gravity survey on the Perch property in 2016 and an HLEM geophysical survey in 2018.
Cluff Lake Properties
The Cluff Lake properties adjoin the past-producing Cluff Lake mine site, where over 62 million pounds of U3O8 was extracted over 22 years from three open pits and four underground mines. The Cluff Lake properties includes two projects: the 6,797-hectare Bridle Lake project and the 4,832-hectare Middle lake project.
Bridle Lake is a 50/50 joint venture project between ALX Uranium and Rio Tinto. Middle Lake is a joint venture between ALX Uranium (80 percent) and Acme Resources (20 percent). The property is located approximately 75 kilometers north of the Triple R uranium deposit and approximately 10 kilometers north of the Shea Creek uranium deposit.
In July 2018, ALX Uranium acquired the Tango property from DG Resource Management Ltd., a private company controlled by a director of ALX Uranium. The property contains eight claims totalling 13,709 hectares that are prospective for nickel, copper and cobalt mineralization in the Mudjatik domain.
The property is located approximately 175 kilometers northwest of La Ronge, Saskatchewan. Tango is also approximately 130 kilometers southwest of the past-producing Key Lake uranium deposit and approximately 230 kilometers west-northwest of the Seabee Gold Operation. ALX Uranium completed a ground geophysical survey in 2018 in conjunction with a reconnaissance prospecting and trenching program at Tango.
Exploration for uranium carried out in the 1970s discovered showings of gold, nickel, cobalt and copper in outcrop samples. In 1979, Golden Eagle Oil and Gas Ltd. conducted surface prospecting on the property as part of a larger regional exploration program for uranium and base metals. Lake sediment samples taken from the Tango property showed anomalous values of nickel, copper, cobalt and zinc. Grab samples from a historical showing known as the Sunlite Trench returned 5.83 g/t gold, 0.01 g/t silver, 0.128 percent nickel, 0.373 percent copper and 0.260 percent cobalt.
The following year, Golden Eagle re-trenched and re-sampled a gold-bearing quartz vein at the Sunlite Trench which returned a grab sample grading 18 g/t gold and 0.16 percent copper. Further exploration work was recommended for the property, but was not carried out and the mineral permit lapsed in 1984. Other precious metals explorers carried out surface sampling for gold and follow-up ground geophysical programs, but by 1992 exploration ceased without any drilling having been carried out within the area of the property.
The 17,393 Argo project is located in the southwestern portion of the Athabasca Basin. The property covers the ground in between ALX Uranium’s Kelic Lake project and Cameco’s Centennial uranium deposit and Dufferin uranium zone.
In the mid-2000s, airborne and ground geophysical surveys were completed on the property. The surveys were re-interpreted in 2018 using a new geophysical model and a new basement conductor was identified through the modeling process. ALX Uranium subsequently conducted an airborne survey over the property in 2018 and determined that the strike length of the anomaly could represent a potential source area for uranium mineralization.
ALX Uranium has commenced a ground prospecting program on the property over the anomalies identified in the 2018 survey.
In June 2019, ALX Uranium acquired the 7,169-hectare Falcon nickel project in Saskatchewan located within the Axis Lake area. The project is located approximately 14 kilometers north of Stony Rapids in the Snowbird tectonic zone. The project is highly-prospective for nickel, copper and cobalt.
Numerous nickel-copper-cobalt showing were discovered in 1929, including approximately 900 meters of strike at the Axis Lake deposit. Also located on the property is approximately 1,500 meters of strike belonging to the Red Lake deposit as well as the entire Currie Lake deposit.
ALX Uranium intends to form a 3D geological model for Falcon on historical areas that may possess nickel-copper-cobalt mineralization and to re-interpret a ZTEM survey. The company hopes to generate new exploration targets outside of the identified historical resource areas.
In May 2019, ALX Uranium staked the 27,056-hectare Flying Vee project located outside of the Athabasca Basin near Stony Rapids, Saskatchewan. Numerous mineral showings have been found on or near the property, such as the Reeve Lake nickel showing and the Axis Lake nickel-copper deposit. The Axis Lake deposit is located five kilometers south of the property and contains a non-compliant NI 43-101 resource of 3.4 million tonnes grading 0.6 percent nickel and 0.6 percent copper.
Two periods of historical exploration occurred at the project between 1956 and 1988, and 2007 and 2009. The exploration activities included prospecting, mapping, trenching, airborne and ground geophysical surveys and drilling. Between 1957 and 1962, several trenches were completed in the eastern part of the Reeve Lake showing area that outlined norite-hosted nickel-copper mineralization at surface. Drilling in the area returned up to 0.89 percent nickel and 0.32 percent copper over 3.66 meters.
In 1968, a gossan zone was discovered at Day Lake, which hosted disseminated pyrite and arsenopyrite mineralization that returned 4.80 g/t gold over 1.5 metres, including a selected grab sample assaying 27.77 g/t gold. Drilling in the Day Lake area in 1988 intersected anomalous gold and silver mineralization.
Airborne geophysical surveys completed in 2007 detected a magnetic anomaly at Nickel Lake, which was tested the following year. Drilling returned 1.89 percent nickel, 0.96 percent copper and 0.11 percent cobalt over a 0.8-meter interval.
ALX Uranium’s review of historical exploration on the Reeve Lake showing in 2018 identified multiple opportunities for future exploration. The company intends to conduct helicopter-borne electromagnetic, gravity and radiometric surveys on the property as well as prospecting and geological mapping to fully investigate historical showings and any new areas of interest.
ALX Uranium’s Board of Directors and Management Team
Warren Stanyer — Chairman and CEO
Warren Stanyer has over 21 years of experience in the mineral exploration industry, focused mostly on uranium in the Athabasca Basin. He previously held the positions of Corporate Secretary and Vice President, Corporate Development for Pioneer Metals until 2006 and UEX Corporation until 2007. In 2007, he began consulting for Northern Continental Resources, a junior exploration company focused on uranium in the Athabasca Basin. He was appointed President and CEO in 2008, and in 2009 he steered the successful sale of the company to Hathor Exploration Limited.
Mr. Stanyer has also held executive-level and director positions at Guyana Frontier Mining Corp., and Alpha Minerals Inc. during the Patterson Lake uranium discovery in 2012, and later in Fission Uranium Corp. Currently, he serves as President, CEO and a Director of Nevada Sunrise Gold Corporation. He is also a Director of New Moon Minerals Corporation, a private mineral exploration company.
Sierd Eriks, P. Geo. — President and Chief Geologist
Sierd Eriks has worked in mineral exploration for over 38 years with a focus on uranium exploration for the past two decades. Between 1979 to 1998, he gained geological and managerial experience with major mining companies, including Saskatchewan Mining and Development Corporation (now Cameco Corporation), Falconbridge Limited, Noranda Exploration Co. Ltd. and Cogema Resources Inc. (now Orano) in base metals, gold, platinum group metals, and uranium exploration.
In 1999, he became a consulting geologist and worked on numerous uranium exploration programs in the Athabasca Basin. Prior to joining ALX, Mr. Eriks was Vice-President, Exploration with UEX Corporation from 2007 to 2014. In this position, he managed projects with annual exploration budgets of up to $29 million and directed drilling programs leading to the establishment of mineral resources for three uranium deposits in the eastern Athabasca Basin in northern Saskatchewan.
Jody Dahrouge, B.Sc., Sp.C., P. Geo. — Director
Jody Dahrouge is a professional geologist with over 25 years of experience in Canada and internationally, and has a successful background in uranium exploration and project generation within the Athabasca Basin. Since 1998, he has been the president of Dahrouge Geological Consulting Ltd., a geological services company that provides consulting services to a broad range of public and private exploration and mining companies. He is a professional geologist (Alberta) and holds Bachelor of Science degrees in geology and computing science, from the University of Alberta.
Until September 2007, Mr. Dahrouge was President and COO of Fission Energy Corp. and played a key role in the acquisition of several of Fission’s key exploration properties, including Waterbury Lake, Patterson Lake, and Patterson Lake South (PLS). Two significant uranium occurrences were eventually discovered at those projects, including the J-Zone at Waterbury Lake and the Triple R uranium deposit at PLS.
Dr. Howard Haugom, BA, MA, Ph.D. — Director
Dr. Howard Haugom is co-owner of Quilts Etc., a national retail chain and a partner at Burkehill Uranium Corp, a Vancouver-based private equity firm. He has taught extensively at Simon Fraser University, worked for both the private and public sectors as an economist, and has been a consultant to the gold resource sector. Mr. Haugom received Economic degrees specializing in international trade and finance and Resource Economics from the University of Victoria in 1984 and a PhD in 1991 from Simon Fraser University.
David Miller, B.S., Reg Prof Geo WY — Director
David Miller is a businessman, professional economic geologist and an elected member of the Wyoming Legislature. He served as the Chief Executive Officer of Strathmore Minerals Corp. prior to its merger with Energy Fuels in 2013. His primary professional focus has been on mineral exploration, development and mining. His career has spanned over 40 years with a chain of companies that started with Utah International in the US, which evolved into Orano, the French nuclear power conglomerate. In addition, he has consulted for the International Atomic Energy Commission in Austria and China.
He is an eight-term member of the Wyoming Legislature and currently serves as Majority Floor Leader of the Wyoming House of Representatives. He graduated from the University of Missouri with a degree in Geology. He is a Registered Professional Geologist in Wyoming, a Registered Member of the Society for Mining, Metallurgy & Exploration and is a Fellow in the Society of Economic Geologists. His professional career has taken him worldwide, working with companies in Japan and South Korea, evaluating projects from Laos to Mongolia, Bolivia to Alaska, and in Canada. His expertise in commodities includes fissionable materials, precious and base metals, fossil fuels and lithium.
Jean-Jacques Gautrot — Director
Jean-Jacques Gautrot is a former Chairman of the World Nuclear Association and serves as an Ambassador of the World Nuclear Association to promote the nuclear industry worldwide. He began his career in TECHNIP, an engineering company in 1968. In 1979, he joined SAINT-GOBAIN Group, as Chief Executive Director of a mechanical company acting in the petroleum and nuclear industries. From 1984 to 1989, he acted as Site Director for SGN La Hague supervising the construction and commissioning of uranium reprocessing facilities. He served as Chairman and Chief Executive of Delattre Levivier, a specialized subsidiary of LYONNAISE DES EAUX Group dedicated to maintenance services for industrial facilities from 1989 to 1996.
He joined COGEMA (now Orano) in 1997 and in April 1998 was appointed Senior Director of the Business and Programmes Division, Nuclear Fuels and Recycling Branch. His main assignments included development related to nuclear back-end fuel cycle services. In June 2000, he was appointed Vice-President for the Commercial and International Development division of COGEMA. In January 2002, he was in charge of the Enrichment Sector as Vice-President and Chairman of the Executive Board of EURODIF, and was a member of the Executive Committee of COGEMA.
Gautrot acted as Senior Vice President of AREVA (now Orano) in charge of Marketing and International Affairs from January 2003 to September 2008, and later served as Chairman and CEO for AREVA United Kingdom from 2008 to 2011. He was Senior Advisor to the CEO of AREVA from 2008 to 2016.
Since 2014, he has acted as President of JJ GAUTROT Consulting S.A.
Patrick Groening CPA, CA — CFO
Patrick Groening’s previous roles with public companies include serving as CFO for both Strathmore Minerals Corp. and Fission Energy Corp. for more than nine years combined. He filled the same role for Jalna Minerals Ltd., Sernova Corp. and Papuan Precious Metals Corp and dual roles as CFO and Corporate Secretary for Wolf Capital Corp. and Pacific Asia China Energy Inc.
Christina Boddy — Corporate Secretary
Christina Boddy is a member of the Canadian Society of Corporate Secretaries and has acted as Corporate Secretary for a number of public companies in recent years, including Levon Resources Ltd., Nevada Sunrise Gold Corporation, Aton Resources Inc. and Resinco Capital Partners Inc. She acts as a consultant to public and private companies through Rhodanthe Corporate Services, a B.C.-based private company.
Roger Leschuk, CIM, FCSI — Corporate Communications Manager
Roger Leschuk has the designation of Chartered Investment Manager and has more than 20 years’ experience in the Financial Services and Investment Industry. He has successfully managed client accounts on a full range of financial services which included stocks, mutual funds, tax sheltered investments, lines of credit and mortgages for over 15 years. Leschuk is also a member of the Fellow of the Canadian Securities Institute.
Charles Roy, P.Eng., P.Geo. —Chairman of the Technical Committee
Charles Roy brings a rare depth of experience and success in uranium exploration from a career largely associated with the world’s leading major uranium mining company, Cameco Corporation. Between 1982 and 1989, Charles was employed by the Mining Engineering and Geological Consulting firm of David S. Robertson and Associates. His work included fluorspar exploration in Newfoundland, uranium exploration in northern Michigan and a uranium and coal evaluation study for the Kingdom of Lesotho. He joined the Saskatchewan Mining Development Corporation (now Cameco Corporation) in 1979 as a Project Geologist in Uranium City, thus beginning a career with Cameco that spanned 33 years. Between 1994 and 2012, Roy managed and supervised both greenfield and brownfield uranium exploration programs in the Athabasca Basin. In his last two years spent with Cameco, he worked closely with Corporate Development and Legal Departments to negotiate new exploration opportunities for Cameco and help to consolidate and streamline the worldwide exploration portfolio.
Mr. Roy has evaluated uranium opportunities worldwide but his expertise and knowledge is most specifically focused on the unconformity uranium model and exploration methods in the Athabasca Basin. During his time at Cameco, he oversaw district exploration budgets of up to $35 million, and was involved with exploration teams responsible for the discovery and delineation of seven significant uranium deposits, including the Millennium deposit.
Ken Wasyliuk, BSc —Technical Committee Advisor
Ken Wasyliuk has worked in mineral exploration for over 30 years with a focus on geochemistry and clay mineralogy in uranium exploration for the past two decades. He graduated from the University of Saskatchewan in 1987 with a B.Sc. (honors) in geology. From 1988 to 2004, he was employed by Cameco Corp. as a geoscientist in gold and uranium exploration.
During his career, Ken became an expert on geochemical and clay alteration patterns associated with uranium deposits in the Athabasca basin, and assisted in the development of proprietary analytical programs in the field of infrared spectroscopy. In 2003, he completed his Master of Science degree on clay mineralogy in the Athabasca Basin. He later served as chief geochemist at JNR Resources Inc. until its acquisition by Denison Mines Corp. in January, 2013. Mr. Wasyliuk operates his own geological consulting company and has participated in exploration on many of the premier uranium deposits found in the Athabasca Basin. At present, he is the uranium site research associate at the University of Saskatchewan for the Canadian Mining Innovation Council Footprints research project.
Steve Khan, B.Sc., MBA, CFA – Strategic Advisor
Steve Khan has worked in senior management positions in all aspects of the Canadian investment industry, including retail, institutional sales, corporate finance, capital markets and investment banking. In 2003, he started his own consulting firm that focuses on corporate development and capital fund raising for early-stage private and public companies. In recent years, Mr. Khan has successfully completed numerous joint ventures, including corporate and government partnered ventures in Canada, the US, Japan, China and Korea. He is a graduate of the University of British Columbia with a B.Sc. in 1978 and a MBA in 1983. He also holds a CFA designation and is a member of the CFA Institute.
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