Crackingstone Uranium Project, Saskatchewan
The 100% owned Crackingstone property is located in the Bearverlodge area on the north shore of Lake Athabasca and 8 km. SW of Uranium City, Saskatchewan.
Northern Saskatchewan has the richest and largest reserves of uranium in the world. It is important to remember that the Beaverlodge area along the north shore of Lake Athabasca was and still is an important metallogenic province of uranium which extends into northeastern Alberta and north into the Northwest Territories.
Historic work in the area dates back to the 1950’s. From 1953 to 1982, sixteen deposits were brought into production in the Uranium City area. Past production in the area came from four outside occurrences; the Cinch, Lorado, Rix Smitty and Leonard occurrences. The Cinch Lake and Rix Smitty mines produced a total 1,869,000 lbs. of U308.
The magnetic resolution of this area has clearly defined the Crackingstone Fault which is the westerly extension of the St. Louis Fault. The St. Louis Fault is host to the Ace, Fay, Verna, and Bolger deposits. The Cinch Lake Uranium mine is located at the easterly extension of the Crackingstone Fault at its intersection with the north-easterly trending Black Bay Fault.
The Crackingstone Fault extends westerly through the Crackingstone Property. Two additional north-easterly trending faults, the Spot Lake and Powerline Fault intersects the Crackingstone Fault west of the Property.
18 uranium showings were located on the Property and two bulk samples were taken from two showings located on the property. The first was a 46 ton hand sorted bulk sample from the Amax’s 50-CC1-80 showing assaying 0.5% U308. A second 6.5 ton hand sorted bulk sample, was extracted from Mylo’s Lease (Rix #49-CC1-4) assaying 0.5% Uranium. Rix Athabasca Uranium Mines Ltd. reported a grab assay of 12.53% U308 from the Rix #59 showing located in the southwestern portion of the property.