Hawk Commences Helicopter-borne VTEM Survey Over the Cluff Lake Uranium Project, Northern Saskatchewanadmin
Hawk Uranium Inc. is pleased to announce that Geotech Ltd., of Aurora, Ontario has commenced a 2,000 km helicopter-borne Time Domain Electromagnetic Geophysical Survey with a VTEM system over Hawk’s wholly owned Cluff Lake Uranium Project in Northern Saskatchewan. Geotech Ltd. has advised Hawk that it expects to complete this survey by the end of April.
The helicopter-borne Versatile Time Domain Electromagnetic System (VTEM) has a penetration depth of over 800 m, with a low Base Frequency (30Hz) for penetration through conductive overburden cover, coupled with a 2-3 metres High Spatial Resolution. This system is advertised to be able to delineate potential drill hole targets from the airborne results. In addition, it also has excellent resistivity discrimination to enable the detection of weak anomalies.
Hawk’s Cluff Lake Uranium Project is 100% owned and is comprised of approximately 13,481 ha of ground in five (5) blocks adjacent to and on strike of the Cluff Lake Uranium Mine. (The Cluff Lake Uranium Mine is a past producer, with historic output of 62.5 million lbs of yellowcake grading approximately 22lbs/ton.) One block totalling approximately 2,114 ha forms a common western boundary with the Cluff Lake Uranium Mine site, and has two (2) known Uranium Boulder Showings present within its boundaries. Previous operators have outlined numerous Airborne Geotem Conductors within the blocks acquired by Hawk. The entire package of ground lies in the Carswell Impact Structure and is within the Athabasca Basin.
There is overwhelming evidence that impact structures are prime locations for a variety of mineral occurrences and, coupled with the favourable Uranium Geology of the Athabasca Basin, this project is undeniably a major acquisition for Hawk.
The Cluff Lake Uranium Mine is located approximately 120 km south of Uranium City. It was owned and operated by COGEMA Resources. The mine ceased uranium production at the end of 2002 when the ore reserves were depleted. It was originally scheduled to shut down in 2000, but higher ore grades and operational ingenuity by employees and contractors allowed production to continue for an additional two years. Total production during the mine’s 22-year operating life was over 62.5 million lbs of yellow cake at an average grade of 0.93% Uranium (1.1% U3O8 – 22 lbs/ton), making it one of the most successful high grade uranium mining operations in Canadian history.
The Carswell Impact Structure is presently mapped as being approximately 39 Km in diameter, compared to the Sudbury Impact Structure that is approximately 70 km in diameter, although the Carswell Impact Structure is much younger than the Sudbury Impact Structure. However, the Carswell Impact Structure has been extensively eroded. It is believed that the structure’s present relief is well below the floor of the original crater, and that the original impact diameter was in the 50-55 km range (compared to the Sudbury Impact Structure which is estimated to have an original diameter in excess of 250 km).
ABOUT HAWK URANIUM INC.
Hawk’s projects currently consist of the following: option interests in two VMS/nickel/copper exploration properties in the McFaulds Lake “Ring of Fire” area of Northern Ontario through option or joint venture agreements (one with Noront Resources Inc. and one with MacDonald Mines Exploration Ltd.); one gold exploration property in the Wawa area of Ontario; one uranium property in the Elliot Lake Camp of Ontario; one uranium property near the Cluff Lake Uranium Mine within the Athabasca Basin of Saskatchewan; one uranium property in the Charlebois Lake area of the Northern Mining District of Saskatchewan; a uranium project in Grand Calumet Township, Quebec; one uranium property in Gila County, Arizona; and a core holding of 3.5 million shares in Wits Basin Precious Minerals Inc. (OTCBB:WITM – News; “Wits Basin”). Wits Basin is currently pursuing active projects in South Africa, Colorado, Mexico and the People’s Republic of China. Hawk also has petroleum and natural gas properties in Ontario.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Hawk, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and results to differ materially from Hawk’s plans and expectations as detailed herein and from time to time in the filings made by Hawk with the TSX Venture Exchange and securities regulators. Hawk does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
H. Vance White Hawk Uranium Inc. President (416) 214-2250 or 1-866-214-9486
(416) 367-1954 (FAX)
Walter Brooks Hawk Uranium Inc. Vice President (416) 214-2250 or 1-866-214-9486
(416) 367-1954 (FAX)
Source: Hawk Uranium Inc.