ESO Uranium Corp. (CVE:ESO) & Fission Energy (CVE:FIS), JV partner, announced further results from its June 2011 uranium boulder prospecting and radon soil gas survey program.
The press release is quoted as saying:
•Of the 74 samples of boulders and mineralized soil samples submitted for fire assay, 9 samples returned anomalous gold values ranging from 0.101 g/t gold to 2.43 g/t gold.
•The grades of the gold samples have a loose correlation with the uranium grades in the boulders.
•This reflects a general association of gold and uranium which is also reported in the largest South West Athabasca Basin deposits. The Shea Creek Deposits of Areva-UEX (with approximately 90 million pounds) and the former producing mines of Amok (Areva) at Cluff Lake (approximately 60 million pounds produced) are examples. This suggests that elevated gold values may be characteristic for deposits in the South West area.
•The focus of much of the exploration activity in the Athabasca Basin has been attracted by the large high grade deposits in the East Athabasca Basin. But the reality is that the South West Athabasca Basin has rewarded exploration with two areas of significantly large and high grade deposits, one of which became a stand-alone mining operation in a remote location.
Drill targets have been selected from a broad review of technical data including geophysical surveys and parameters suggested by data from diamond drill hole information in assessment reports presented by Canadian Occidental in the late ’70s. The geophysical data indicate several strong ground EM conductors on the southwest end of the Patterson Conductor Corridor which appear to have been disrupted by large cross cutting structures. These are associated with a low magnetic area that could be interpreted as an alteration feature.