ATHABASCA BASIN
Virgin River is a joint venture located in the Athabasca Basin about 125 km northwest of the Key Lake milling operation. It is 98% owned by UEM Inc., a company owned equally between Cameco and Areva Resources Canada Inc. The remaining 2% is held by Formation Capital Corp. Work today focuses on the Centennial Deposit which was discovered in 2004. Similar to McArthur River, the Centennial deposit is located along the Athabasca unconformity, except at a depth of 800 metres.
Exploration Objectives
- To identify, through further drilling, the scope of the Centennial deposit along and across its 650-metre identified length
- To determine its economic viability
- To test drill regional exploration targets outside the current defined deposit
History
| 2004 | Centennial discovery hole intersects 3.4 metres of core averaging 10.76% U3O8 at a depth of nearly 800 metres |
| 1998 | diamond drilling indicates mineralization present |
| 1994 | exploration activity begins on the property |
| 1968 | first exploration activity in the area |
Last Reviewed: October 23, 2009