Properties

Properties: Uranium - Hornby Basin, NWT

Hornby Basin, NWT

The Hornby Basin property is an early stage exploration property and is located north of the east end of Great Bear Lake, 430 kilometres northwest of Yellowknife and 80 kilometres north of Port Radium, in Canada’s Northwest Territories.

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The terrain at Hornby Basin is characterized by low rolling hills and little vegetation. The property straddles a drainage divide with the Fault River flowing west to Great Bear Lake and the Bigtree River flowing east toward the Coppermine River.

The property is underlain by rocks of the Hornby Basin Group which occurs as a relatively flat lying proterozoic sedimentary deposit overlying intermediate to felsic rocks of the Echo Bay Formation. The contact between the two groups is the favourable contact for Athabasca Basin type uranium mineralization.

The Echo Bay formation is intruded by granatoid rocks which are typically very magnetic. These granatoids are thought to be responsible for the Iron Ore Copper Gold (IOCG) mineralization at Fortune Mineral Ltd.’s Nico Deposit in the southern Bear Province 300 kilometres to the south and are one of the targets at Alberta Star Development’s Contact Lake Claims 75 kilometres to the east.

In 2006 the Company flew a property wide airborne electromagnetic survey. This survey was meant to increase understanding of the property and was meant to supplement historical findings related to the geology of the Hornby Basin.

In a 1978 report, preliminary maps revealed magnetic features as likely being related to late stage intrusions (source: Boniwell, 1978). In the same report, a late stage granite on the property is magnetically dominant and was found to possess radioactive characteristics.
In light of these findings, the long arch like feature that is magnetically high throughout much of the property but magnetically low within the presumed granite at the south end of the property could be a basin- margin fault similar to those noted in the area. The magnetic high at the southern part of the property could be an intrusive granatoid.

The basal contact of the Hornby Basin Group rocks is known to be prospective for uranium mineralization, and the knowledge that the property is underlain by Hornby Basin Group rocks presupposes that the basal contact occurs at depth.