Geological Framework of the Fox Lake Uranium Deposit ... · MFb MFa. Fox Lake Mineralization 31...

Cameco Corporation

cameco.com

28 November 2017

Scott Rogers1, Nathan Bridge1,

Clare O’Dowd1, Haiming Yang1,

Alexandre Aubin1, and Andrew Yackulic2

Geological Framework of the Fox Lake Uranium Deposit, Athabasca Basin, Canada

1 Cameco Corporation2 Yak Geoscience

Location Map

2 Geological Framework of the Fox Lake Deposit - Nov 28, 2017

Lake

Pasfield

Lake

Waterbury

Lake

Wollaston

BlackLake

Lake

Selwyn

LakeTazin

Cree Lake

W ollaston Lake

Points North

Black Lake

Stony Rapids

F ond-du-Lac

Camsell- Portage

A

l b e r t a

Maurice

Gunnar

Nicholson

Eldorado

Roughrider

Midwest LakeCollins Bay

Raven-Horseshoe

Sue

West Bear

Millennium

Bay

Tamarack

McArthur River

Cigar Lake

Rabbit Lake

Key Lake

Eagle Point

Cluff LakeMcClean Lake

Centennial

Uranium City

Reindeer

Lake

Cree

Lake

Lake Athabasca

Athabasca Basin

McArthur R.

Cigar Lake Rabbit L.

Key Lake

Saskatoon

Athabasca Basin

Arrow

Triple R

Phoenix

Gryphon

J-Zone

Shea CreekMaybelleRiver

Read Lake Fox Lake

Cameco – 78.241%AREVA – 21.759%

Regional Geology


Millennium Gryphon

Phoenix

Fox Lake

McArthur

River

Magnetic Signature (TDR)


Legend

Major Fault

Ground

Conductor

0 1 2 3 4Km

Magnetic Tilt

Derivative

(radians)


Conductive Signature (ZTEM)

Legend

0 1 2 3 4Km

ZTEM IP

90Hz DT

Major Fault

Ground

Conductor


Project Geology

Legend

Granite Gneiss

Pelite

Quartzite

Graphitic Pelite

0 1 2 3 4Km

Major Fault

Ground

Conductor

Fox Lake Discovery Timeline


2007 2008 2011 2013 2014 2015

High Grade

Perched

Mineralization-

Fox Lake East

First Intersection

Within Deposit

Footprint

High Grade-

Thickness

Mineralization-

Fox Lake West

High Grade-

Thickness

Mineralization-

Fox Lake Central

Maiden Resource

Estimate

DelineationExploration Resource Evaluation

Stepwise

Moving Loop

EM Conductors

REA-107

Fox Lake

First

Mineralized

Drillhole on

C10 Corridor



2007 2008 2011 2013 2014 2015

First Mineralized

Drillhole on

C10 Corridor

First Intersection

Within Deposit

Footprint

High Grade-

Thickness

Mineralization-

Fox Lake West

High Grade-

Thickness

Mineralization-

Fox Lake Central

Maiden Resource

Estimate


REA-112-2

Fox Lake

Stepwise

Moving Loop

EM Conductors

High Grade

Perched

Mineralization-

Fox Lake East



2007 2008 2011 2013 2014 2015

First Mineralized

Drillhole on

C10 Corridor

High Grade

Perched

Mineralization-

Fox Lake East

High Grade-

Thickness

Mineralization-

Fox Lake West

High Grade-

Thickness

Mineralization-

Fox Lake Central

Maiden Resource

Estimate


REA-125-2

Fox Lake

Stepwise

Moving Loop

EM Conductors

First

Intersection

Within Deposit

Footprint



2007 2008 2011 2013 2014 2015

First Mineralized

Drillhole on

C10 Corridor

High Grade

Perched

Mineralization-

Fox Lake East

First Intersection

Within Deposit

Footprint

High Grade-

Thickness

Mineralization-

Fox Lake Central

Maiden Resource

Estimate


REA-144

Fox Lake

Stepwise

Moving Loop

EM Conductors

*Deposit Outline at 0.1% U3O8 cut-off grade

2011

High Grade-

Thickness

Mineralization-

Fox Lake West



2007 2008 2011 2013 2014 2015

First Mineralized

Drillhole on

C10 Corridor

High Grade

Perched

Mineralization-

Fox Lake East

First Intersection

Within Deposit

Footprint

High Grade-

Thickness

Mineralization-

Fox Lake West

Maiden Resource

Estimate


REA-165-3

Fox Lake

Stepwise

Moving Loop

EM Conductors

*Deposit Outline at 0.1% U3O8 cut-off grade High Grade-

Thickness

Mineralization-

Fox Lake Central



2007 2008 2011 2013 2014 2015

First Mineralized

Drillhole on

C10 Corridor

High Grade

Perched

Mineralization

(Fox Lake East)

First Intersection

Within Deposit

Footprint

High Grade-

Thickness

Mineralization

(Fox Lake West)

High Grade-

Thickness

Mineralization

(Fox Lake Central)

Maiden Resource

Estimate


Fox Lake DepositInferred 68.1 Mlbs U3O8 @ 7.99%

386,681 tonnes (0.7% U3O8 cut-off grade)

Fox Lake

Stepwise

Moving Loop

EM Conductors

*Deposit Outline at 0.1% U3O8 cut-off grade

Stepwise Moving Loop EM


º

ZTEM IP

90Hz DT

Legend

Mineralization(0.1% U3O8 cut-off)

Stepwise

Moving Loop

EM Conductors

0 150 300 45075 m

Local Geology


º

0 150 300 45075 m

A

A’

LegendLegend

Lithology

Pegmatite

Calcpelite

Pelite

Graphitic Pelite

! ! ! ! !

! ! ! ! !

! ! ! ! !

Cordierite Pelite

# # # # #

# # # # #

# # # # #

Garnet Pelite

Semipelite

Granite Gneiss

M M M M M

M M M M M

M M M M M

Pelitic Metatexite

LP LP LP LP LP

LP LP LP LP LP

Pelitic Diatexite

Structure

Unidentified Altered Protolith

Fault (defined)

Fault (inferred)


Fox Lake Schematic Section


Unconformity

MFbMFa

Pyritization

Desilicification

Silicification

Bleaching

Dravite

Kaolinite

ChloriteChlorite

Dravite

Clay

C10 Fault &

Stratigraphy

Cordierite-bearing Pelite

Uranium

Mineralization

Garnet-bearing Pelite

@ ~700 m

A A’

*not to scale,

for illustrative

purposes only

~550 m

Basement Structure


Semi-Brittle Fault

Ductile Boudinage

Healed Breccia

MFb

MFa

*not to scale,

for illustrative

purposes only

Sandstone Structure


Desilicified Brittle Fault

Healed Breccia with Rotated Bedding

Silicified Breccia*not to scale,

for illustrative

purposes only

MFb

MFa

Fox Lake Central – Structural Geology


º

0 150 300 45075 m

A

A’

A’A

U/C

Pop-up

LegendLegend

Lithology

Pegmatite

Calcpelite

Pelite

Graphitic Pelite

! ! ! ! !

! ! ! ! !

! ! ! ! !

Cordierite Pelite

# # # # #

# # # # #

# # # # #

Garnet Pelite

Semipelite

Granite Gneiss

M M M M M

M M M M M

M M M M M

Pelitic Metatexite

LP LP LP LP LP

LP LP LP LP LP

Pelitic Diatexite

Structure

Unidentified Altered Protolith

Fault (defined)

Fault (inferred)


Distal Sandstone Alteration


Pervasive Bleaching

Disseminated Grey Pyrite

Interstitial Clay

*not to scale,

for illustrative

purposes only

MFb

MFa

Proximal Sandstone Alteration


Structurally Controlled

Sooty Pyrite/Quartz Dissolution

*not to scale,

for illustrative

purposes only

MFb

MFa

Proximal Sandstone Alteration


Fracture-Controlled Pyritization

Dravitization and Silicification

Patchy Pyritization

*not to scale,

for illustrative

purposes only

MFb

MFa

Basement Alteration


Argillitization

Faulted graphitic pelite

Chloritization

*not to scale,

for illustrative

purposes only

MFb

MFa

Clay alteration

Dravite Veinlets

Chloritization

Basement Alteration


*not to scale,

for illustrative

purposes only

MFb

MFa

Exploration Pathfinders


Reflectance

MineralogyUranium Partial

Reflectance Mineralogy


Fox Lake WestFox Lake Central

WE

● West and Central zones show distinct

spectral signatures

0 150 300 45075 m

Geochemical Anomalism


● Arsenic distribution

W E

0 150 300 45075 m



● Molybdenum distribution

W E

0 150 300 45075 m



● Cobalt distribution

W E

0 150 300 45075 m



● Nickel distribution

W E

0 150 300 45075 m

Fox Lake Mineralization


Perched mineralization

Blebby/RedoxFracture-

hostedGouge-hosted

*not to scale,

for illustrative

purposes only

MFb

MFa

Fox Lake Mineralization


Massive

Semi-massive with NiAs

Semi-massive

Vuggy

*not to scale,

for illustrative

purposes only

MFb

MFa

Grade Distribution


U/C @

700 m

● Narrow target =

drilling strategy

required

● Multiple drill holes

necessary to test

ideal target

Stepwise

Moving

Loop Time-

Domain EM

Target

50 m

50

m

37

Grade-Thickness

Product (%m)

Reference

6 4

3720410

REA-165-3


24.95% U3O8 / 8.0 m

Max 70.4% U3O8

U/C

Summary


● Discovery through delineation to maiden resource estimate in 5 years

● Exploration success resulting from early recognition of significant features,

evaluation of deposit model

● Tight nature of high grade mineralization = challenging evaluation

● C10 corridor an extensive and fertile mineralizing system

– Geochemical anomalism/reflectance mineralogical signature extends over 7 km

– Potential for additional mineralization exists along the corridor

Questions


Thank You!

Geological Framework of the Fox Lake Uranium Deposit ... · MFb MFa. Fox Lake Mineralization 31...

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Transcript of Geological Framework of the Fox Lake Uranium Deposit ... · MFb MFa. Fox Lake Mineralization 31...