(2500 acres, Nye County Nevada approximately 55 miles southwest of Ely., high grade Uranium)
Acquisition:
Thelon Ventures Ltd. has optioned an 80% interest in the White River Valley Uranium Property Uranium Properties located in Nye County Nevada approximately 55 miles southwest of Ely from Energy Metals Corporation Ltd.
The Property:
Previous drilling by Union Carbide has outlined two areas encompassing almost 500 acres with known sandstone hosted uranium mineralization. The mineralization, which lies at depths of 900 to 1100 feet, is believed to be amenable to the ISL process. Drilling on the property has intersected radiometric grades of 0.04% U3O8 over 30 feet and grade thickness (GT) values in excess of 1.2 have been encountered (GT= % U3O8 x feet) within the mineralized areas.
Additional drilling will be required to delineate the extent and commercial viability, if any, of the mineralization, which is open in at least two directions. The company has the original detailed logs of all the previous drilling on the project. A full review by company geologists is currently underway. Thelon geologists have taken possession of and begun an intensive review of the more than 30 down hole logs to establish in-fill drill targets and provide an estimate of the overall property potential.
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