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TSX-V: FIS     FSSIF:US     6F5:GR

Patterson Lake, SK


The Patterson Lake property was acquired by staking in 2004. It comprises approximately 25,000 Ha, and is located about 30 km immediately south of the UEX/AREVA Anne and Collette uranium deposits near Shea Creek.

An airborne magnetic and EM geophysical survey was conducted in 2005. A more detailed follow-up airborne survey was completed in 2006. This work was followed up by ground geophysics over 3 grids in the areas of greatest interest. These exploration techniques identified several previously unknown conductors, including a northwest-southeast trending conductor, which appears to run parallel to the Anne Lake conductor. A 5-hole exploration drill program conducted early in 2007 identified encouraging results from alteration.

In December 2007, a MEGATEM airborne magnetic and EM survey was completed over the southern half of the project area. Results from this survey were compiled with earlier surveys, and new targets associated with a large interpreted structure located along the flank of an electromagnetic anomaly known as the "Patterson Lake High" were identified. During the 2007-2008 winter season, a 6 hole 2,796m drill program to follow-up earlier drilling and test the new target area was completed. Further exploration work has been deferred subject to additional financing.