Brazil Resources Receives Permit for Proposed Drill Program on the Rea Uranium Project

Brazil Resources Inc. (TSXV:BRI,OTCMKTS:BMIX) announced that it has received authorization from the Alberta Department of Environment and Sustainable Resource Development for the proposed drill program at the Rea uranium project.

As quoted in the press release:

The Project is located in the western portion of the Athabasca Basin, which the Company believes is an underexplored region and which has seen renewed exploration activity with the recent discoveries in the Patterson Lake area by Fission Uranium Corp., NexGen Energy Ltd. and PurePoint Uranium Group Inc.

The Rea project is one of the largest land holdings in the western Athabasca Basin at 1,253 sq km (125,328 ha). It is owned by Brazil Resources (75%) and AREVA Resources Canada Inc. (25%), and completely surrounds AREVA’s Maybelle River project. The Maybelle River project covers the north-northwest striking Maybelle River Shear Zone (“MRSZ”), which hosts relatively shallow (<200 m), high-grade uranium mineralization at the Maybelle River deposit, which was discovered in 1988. The deposit was discovered in 1988 and published drill intersections include 17.7 percent U₃O₈ over 5m in MR-39 and 4.7 percent U₃O₈ over 1.7 m in MR-34 (Wheatley and Cutts, 2013)¹. The MRSZ extends an additional 11 km north of the Maybelle River project across the Rea project, which will be the focus of the proposed exploration and drill program.

Garnet Dawson, CEO of Brazil Resources, commented:

We are excited to have received authorization from the Alberta government to explore our Rea project. AREVA is likewise excited to explore the extensions of their major discovery at the Maybelle River project. Brazil Resources and AREVA are currently reviewing the exploration program and budget, and once approved, a start date will be announced. The proposed program targets a major regional shear zone that hosts high-grade, near-surface uranium mineralization only 9 km to the south at the Maybelle River deposit.

Given that NexGen’s Arrow and PurePoint’s Spitfire discoveries are approximately 7 and 13 kilometres northeast of Fission’s Triple R deposit and hosted within the same regional shear zone, we believe that there is good potential to find additional deposits along the MRSZ. We’ve also been gratified to find the Alberta government very interested to extend exploration into their large and highly prospective portion of the Athabasca Basin, which has received very little exploration thus far.

Click here to read the full Brazil Resources Inc. (TSXV:BRI,OTCMKTS:BMIX) press release.