GoldMining Inc. (GLDG: NYSE) has recently shared promising preliminary findings from the reprocessing, inversion, and modeling of historical geophysical surveys at its Rea uranium project in Alberta, Canada’s Western Athabasca Basin. The project, in which GoldMining holds a 75% stake with Orano Canada owning the remaining 25%, spans approximately 125,328 hectares around Orano’s Dragon Lake prospect. Notably, the Rea Project is situated 60 km southeast of significant uranium deposits like Fission Uranium Corp.’s Triple R and NexGen Energy Inc.’s Arrow deposits, both currently in the development phase.
Navigating the Strategic Frontiers of the Athabasca Basin
GoldMining’s CEO Alastair Still expressed his enthusiasm for the Rea project, highlighting the generated targets within the Athabasca Basin. Still noted the area’s reputation for hosting some of the world’s largest and highest-grade uranium deposits. The CEO commended the technical team’s cost-effective work and strategic approach, emphasizing their efforts to enhance shareholder value. Utilizing modern reprocessing techniques and inversion modeling of historical geophysical surveys, the team identified over 70 km of prospective areas for follow-up exploration across three distinct corridors, exhibiting geophysical signatures akin to known Athabasca Basin uranium deposits.
The Rea Project: Unveiling Uranium Potential
1. Strategic Location
The Rea Project comprises 16 contiguous exploration permits covering around 125,328 hectares neighboring Orano’s Maybelle River project, home to the shallow Dragon Lake prospect. Located approximately 175 km north-northwest of Fort McMurray, Alberta, the project is accessible via winter roads and air charter.
2. Geophysical Insights
Reprocessing, inversion modeling, and reinterpretation of historic surveys have delineated over 70 linear kilometers of basement conductive trends, interpreted as graphite-bearing shear zones indicative of potential unconformity-style uranium mineralization.
3. Three Prospective Corridors
Maybelle River Corridor (11 km): Extending northward from Orano’s Maybelle River Project, where shallow, high-grade uranium mineralization is hosted at the Dragon Lake prospect. Dragon Lake, discovered in 1988, has previously reported historic high-grade drill intersections. Five historic drill holes on the Rea Project claims intersected anomalous uranium values and pathfinder elements and minerals. Net Lake Corridor (20 km): 20 widely spaced drill holes have tested the area, with five intersecting anomalous uranium and associated pathfinder elements. Keane Lake Corridor (40 km): The area remains largely unexplored, except for two historic drill holes that intersected anomalous uranium values in the south-central area of the Project.
Significant Geological Discoveries and Future Exploration
Each of the three prospective corridors is interpreted as a potentially significant basement structure fundamental to the formation of Athabasca uranium deposits. Drill-proven fault and shear zones have been intersected on both the Maybelle River and Net Lake corridors. Follow-up exploration programs will include additional geophysical surveys to refine targets before drilling.
Exploration Focus: Athabasca Basin Uranium Deposits
In the Athabasca Basin, conductive graphite-bearing shear zones in basement rocks beneath sedimentary layers are intricately linked with unconformity-related uranium deposits. Notable deposits like Fission’s Triple R and NexGen’s Arrow occur within graphitic shear zones in the basement rocks. GoldMining Inc. enlisted Fathom Geophysics LLC to process historical airborne and ground geophysical surveys within the Rea Project area, revealing structural and lithological interpretations aligning with the regional tectonic framework.
GoldMining Inc., a public mineral exploration company focusing on gold assets in the Americas, controls a diverse portfolio of resource-stage gold and gold-copper projects across Canada, the U.S., Brazil, Colombia, and Peru. The company also holds significant shares in Gold Royalty Corp., U.S. GoldMining Inc., and NevGold Corp. Committed to further exploration and development, GoldMining aims to unlock substantial value within its mineral assets across the Americas.
