Virginia Energy: Geophysics Underway and Drilling Approved

Virginia Energy Resources Inc. (TSXV:VAE) reports that it has approved a 12-hole, 2300-metre drill program on the Richardson-Crooked Lake target on the Hatchet Lake property, Athabasca Basin of Saskatchewan.

The press release is quoted as saying:

The property is held by Virginia and Denison Mines Corp. (TSX:DML) in a 50-50 Joint Venture with Denison as Operator.

The 2011 drilling and geophysical survey will target a historically described, six-kilometre-long conductor system with uranium and base-metal enrichment associated with sulphide mineralization and alteration in sandstone and basement rocks. The Richardson-Crooked Lake target is located on the shallow northeast margin of the Athabasca Basin with depths to the basement contact targets varying from zero to 120 metres, well within the limits of low-cost open-pit mining.

Click here to access the entire news release.