March 20, 2013 09:01 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2013) - Russell Marshall, President and CEO of Anglo-Bomarc Mines Ltd. (the "Company") (TSX VENTURE:ANB) is pleased to provide details on the 2013 Hughes Lake Uranium project work program.
The Hughes Lake project is a uranium exploration joint venture among Cameco Corporation (73.77%), Areva Resources Canada Inc. (16.23%), and Anglo-Bomarc Mines Ltd. (10.00%). Cameco is the project operator. The property is situated within the eastern portion of the Athabasca Basin, approximately 30km southwest of the McArthur River mine, the world's largest uranium project also owned by Anglo-Bomarc's Hughes Lake partners Cameco and Areva.
The 2013 work program consists of 15-20 diamond drill holes totalling approximately 13,000 m from January to September. The budget required to carry out the program on the Hughes Lake project is $4,000,000, of which Anglo-Bomarc Mines is responsible for 10% ($400,000). These resources are being allocated to undertake an aggressive drilling program along the C conductive trend. The C conductor trend on the Hughes Lake project is associated with 100+ m of unconformity offset inferred as post-Athabasca reverse dip-slip movement. The C conductor is associated with a wide, steeply southeast dipping package of prospective graphitic metasediments. Sparse testing of this trend to date has indicated both lithogeochemistry and clay spectrometry are anomalous along its entire length on the project lands.
The primary objective of the diamond drilling program is to drill test the C conductor trend over the entire length of the property at 400m spacing. This will allow for the evaluation of the trend for the presence of a geochemical/alteration halo or in-situ uranium mineralization that is indicative of a (~100 M lb.) deposit. Secondary targeting consideration is being given to conductors that are footwall to the main reverse fault and are coincident with resistivity lows within the main magnetic corridor. Sparse historic drilling of these features suggests potential for post-Athabasca reactivation exists coincident with these western conductors. Tertiary or third order targets consist of conductors that are not coincident with resistivity features.
For more information on the 2013 Hughes Lake Uranium Project work program please visit our newly refurbished website at www.Anglo-BomarcMines.com. We will be updating the investing community regularly on the progress made at Hughes Lake going forward.
Anglo-Bomarc Mines Ltd.
Russell Marshall, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Anglo-Bomarc Mines Ltd.Russ MarshallPresident and CEO604email@example.com
See all RSS Newsfeeds