Presentations
Overview
Screech Property
Gravel Hill Property
Eyeberry Property

Presentations

Canada Uranium Projects (pdf document, 2.4 MB)

Overview
Low levels of worldwide uranium exploration over the past 25 years, combined with the relative remoteness of the Thelon Basin have resulted in a pronounced exploration deficit with respect to the Thelon Basin in terms of the current and projected uranium market. Ur-Energy has selectively targeted the southwestern Thelon Basin as the focus of its Canadian exploration efforts.

Ur-Energy’s Thelon Project is comprised of three properties - Screech, Gravel Hill, and Eyeberry. Each was acquired based upon the presence of key geological vectors and encouraging supporting data from 1970’s era exploration by Urangesellschaft Canada Ltd. (UG). All three properties are located in the southeastern part of the Northwest Territories. The 76 claims of the Thelon Project cover 175,000 acres.

The three Thelon Project properties are situated along the southwestern portion of the Thelon Basin. This arcuate basin is comprised largely of sandstone with minor conglomerate deposited in Paleohelikian time. It covers a broad portion of the western Churchill Structural Province. Thelon Basin lithologies, facies inter-relationships, age, and diagenesis are comparable to those in the Athabasca Basin. Both basins were deposited upon a deeply paleoweathered surface.

Large areas of the central and northeastern Thelon Formation are underlain by continental felsic volcanics and by coeval, flourite-bearing granites. Along the western and southern margin of the Thelon Basin older granitoid gneisses and northeast-trending metasediment-dominated belts are extensively represented in basement rocks. The granitization of supracrustal rocks and the intrusion of syn- and post-tectonic granite intrusions during and after the Hudsonian orogeny represent a major uranium metallogenetic episode.

It is widely accepted that the ultimate sources of uranium mineralization in the Athabasca Basin are uraniferous Paleoproterozoic basement rocks beneath and to the east of the basin. Similarly in the Thelon Basin region, extensive bodies of uraniferous basement rocks occur in the form of the granitoid gneisses, and in the extensive anorogenic granites and continental volcanics lying beneath and to the east of the present basin. The dominant paleocurrent direction within the Thelon Basin is also from east to west. Large components of the lower portions of the Thelon sandstones would have eroded from the uraniferous basement rocks and been deposited on deeply weathered basement rocks. Evolving basinal diagenetic processes would have further concentrated uranium mineralization along favourable basement structural/stratigraphic settings.

Our goal with the Thelon Project is the discovery of high-grade unconformity-type uranium deposits. Currently known unconformity-type uranium deposits and prospects in the Thelon Basin include COGEMA’s Kiggavik uranium deposit in the northeastern basin, and the Boomerang Lake uranium-gold prospect of the Uravan/Cameco JV in the southwestern part of the basin. Recent encouraging exploration results from the Screech Property strongly suggest that our goal is achievable.

Screech Property
Screech, the keystone property of the Thelon Project, is comprised of 24 contiguous claims covering a total surface area of approximately 62,000 acres. The Boomerang Lake Mineral Leases of the Uravan/Cameco JV adjoin the property on the southwest.

The property is entirely covered by variable thicknesses of Thelon Formation sandstones. Depth to unconformity increases in a progressive manner from perhaps 200 metres in the west to about 800 metres along the east boundary. Unconformity depth displacements due to faulting are indicated in recent ground geophysical surveys in the central Screech Lake part of the property. In this area depth to unconformity averages 600 metres.

Screech Lake was a focus of uranium exploration activities by UG in the period 1976-81. The unique Screech Lake radon anomaly was investigated intensively by geochemical, radiometric and conventional geophysical methods. The source of it was found to be a radioactive aquifer discharging into the lake and along the southwest shores through fissures. The aquifer waters are characterized by very high radon contents and high uranium contents (with high U/Th ratios). The resultant radioactivity causes the lake waters to have increased conductivity due to ionization. Additionally, soils around Screech Lake were found to be very anomalous in radiogenic helium.

An uncompleted 1979 UG drill hole and corroborating recent (2005) ground geophysical evidence indicate that an undefined area, possibly centered on the west end of Screech Lake, has no permafrost. This is in remarkable contrast to the surrounding region, where permafrost thicknesses of 200 metres are the norm.

In 2005 Ur-Energy completed an airborne MegaTEM survey over the entire claim group and a ground PROTEM-67 survey in the vicinity of Screech Lake. In addition, detailed radon sampling was carried in the summer months in an attempt to duplicate the radon anomalies from previous survey results. This work is currently been evaluated and compiled and the results will be announced by press release shortly. A land use permit is required for drilling and installation of a more permanent camp. It is anticipated that drilling can commence soon after issuance of the land use permit.

A land use permit is required for drilling and installation of a more permanent camp. It is anticipated that drilling can commence soon after issuance of the land use permit. Ur-Energy has engaged Golder Associates to manage the application process for land use permitting at Screech.

Gravel Hill Property
The Gravel Hill Property consists of 20 contiguous claims covering a total surface area of 50,617 acres. It covers a southern lobe of the Thelon Formation and encompasses two known, basement-hosted uranium showings as well as several isolated uranium occurrences. A large radioactive anorogenic granite underlies the east part of the property.

The two uranium showings are hosted by east-west-oriented cataclastic breccia zones. Assays from 32 grab samples from trenching on the B&B Showing, taken by UG in 1979, averaged 3 lbs U3O8/ton (0.15% U3O8) with a best assay of 2.34% U3O8. Uranium occurs as pitchblende, uraninite, and uranium adsorbed onto goethite.

About 800 m to the east, at the # 2 Showing, assays of 11 grab sample averaged 5.4 lbs/ton U3O8 (0.27%), and 9 grab samples from an area just north of the showing averaged 7 lbs./ton U3O8 (0.35%). Silver and elevated quantities of lead, copper, and molybdenum accompany the uranium mineralization. The geology, mineralization, alteration, and weathering at #2 Showing are essentially the same as at the B&B Showing. Nine drill holes totaling 1,040 m were completed on the showings by UG in 1979. Drill results were disappointing. UG attributed this discrepancy to near-surface, weathering enrichment.

Ur-Energy is compiling a structural interpretation using recent MegaTEM and magnetic results from an airborne survey flown in 2005. Results of this work will be detailed in a future press release once the compilation work is completed by our consultants.

Eyeberry Property
The Eyeberry Property consists of 32 contiguous claims covering a total surface area of 62,435 acres. It encompasses two known uranium showings and several isolated occurrences. The property bounds the Thelon Game Sanctuary.

Paleoproterozoic basement rocks on the western half of the property include radioactive granitoid gneisses, a northeast-trending mafic metavolcanic zone, and a northeast-trending cataclastic zone. Erosional remnants of Thelon sandstone and areas of regolith and silcrete formation were noted by UG geologists. The basement rocks are overlain by Thelon sandstones in the east and southeast. A horst of Hurwitz Group quartzites protrudes through the sandstones just east of the southeastern extremity of the property.

Two uranium showings in basement rocks, discovered by UG in 1978, are characterized by pitchblende as a fracture filling in metavolcanics and a fracture zone within a cataclastic zone. Short drill holes returned low uranium values from both showings.

Of greater significance to Ur-Energy is a high proportion of anomalous geochemical samples (radium-in-lake-sediments and radon-in-water) from the southeast, sandstone-covered half of the property. Interpretations of our 2005 Fugro airborne survey is ongoing, the results of which will be released as soon as they have been evaluated.

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