The company, a subsidiary of Compagnie Francaise des Petroles, says two separate zones occur along a 4.2-km trend known as the Sue zone. Hole CS-24, part of a drilling program testing the zone last summer, returned 12 m of 2.7% U3O8. Further drilling is planned for this year.
The new deposits are located 2.5 km east of the project’s McClean deposits. The Wolly property lies immediately west of Cameco’s Rabbit Lake property. Minatco is the project operator; its partners are Inco Ltd. (TSE) and Canadian Occidental Petroleum (TSE).
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