Okapi Resources Ltd (ASX:OKR) is about to kick off a summer field exploration program across its exploration projects in the world-renowned Athabasca Region.
The company recently completed significant satellite image data analysis over its Newnham Lake and Perch Projects, which generated numerous highly prospective targets.
The two 100%-owned flagship projects straddle the north-eastern margin of the Athabasca Basin and they consist of 15 mining claims covering around 18,500 hectares. Historical drilling has encountered multiple ore-grade intercepts of between 1,000 parts per million (ppm) U3O8 and 2,000 ppm U3O8 in relatively shallow historical drilling within a 25-kilometre conductive trend.
The depth to the Athabasca Basin unconformity at Newnham Lake is only around 100 metres, mitigating the need to drill deep holes.
Surface exploration campaign
The surface exploration campaign will include geologic mapping of structures, lithology and alteration, combined with geochemistry, primarily from rock samples.
The purpose of the exploration program is to prioritise drill targets ahead of Okapi’s upcoming North American winter drilling program.
Okapi managing director Andrew Ferrier said: “The Okapi team is excited to begin its maiden exploration program. Okapi has a substantial land package comprising six project areas covering over 55,000 hectares.
Shallow high-grade uranium
“Importantly, five of these projects are located along the margin of the Athabasca Basin where depth to the unconformity is relatively shallow, typically around 100 metres, making these ideal for targeting shallow high-grade unconformity-related uranium deposits, and potentially near-surface basement-hosted uranium deposits.
“The exception is the Middle Lake Project that lies adjacent to the formerly producing Cluff Lake Mine in the Carswell Impact Structure. We are particularly excited about our Newnham Lake and Perch Projects along the north-eastern margin of the Athabasca Basin which have the hallmarks to host potential tier-one uranium discoveries.”
Middle Lake Project
The 80%-owned Middle Lake Project, along the south-eastern margin of the Carswell Impact Structure, is close to Orano’s historical Cluff Lake Mine, which produced 64.2 million pounds of U3O8 at 0.92% U3O8 between 1980 and 2002.
Middle Lake has, to date, had the most exploration work completed historically out of all the projects within Okapi’s portfolio of Athabasca Projects.
Okapi is in the process of converting all historical exploration data to a digital format to assist with its geological modelling and generate viable drill targets for testing.
The company has obtained a permit to drill up to 24 holes for a total of 10,000 metres of drilling and plans to drill the project in the upcoming North American winter season.
The exploration of the Middle Lake Project area extends back to the 1970s and has included extensive geophysics, geochemistry, surface mapping and exploration drilling. The most significant results to date have come from surface mapping of boulder trains on the property in 1981, when two individual boulders returned values of 8.95% and 16.9% U3O8 in altered and strongly mineralised Archean basement rocks. The rocks also returned gold values of 2,160 parts per billion (ppb) and 2,880 ppb gold.
Other projects
The company is also processing satellite image data from its Kelic Lake and Agro projects, with results expected in early July. Geological modelling on these results will help Okapi determine new targets.