Starfire coughs up for Capri

Starfire Minerals (SFR-V) will spend $400,000 in first-phase work of its 21-claim Capri uranium property, near Grand Remous, Ont.

Starfire plans a two-phase campaign of airborne radiometric surveying, geological mapping and trenching of the property’s Grenville-aged metamorphic rock. The aim is to confirm resource projections of between 1.5 million to 3 million tons grading 0.02% to 0.1% uranium.

The company has also budgeted $250,000 for a 2,000-metre diamond drilling campaign to follow up on positive results from the first wave of exploration.

The property, with a large zone of four broad bands of radioactive rock, is about 1 km from the village of Grand Remous. The village is 170 km north of Ottawa.

The area was first trenched and drilled in the late 1960s to mid-1970s. Original assay reports are not available. The 60-metre-wide trenches have been traced for 360 metres along strike and 90 metres downdip.

This was Starfire’s first major announcement since director Stewart Jackson resigned last month. The British Columbia Securities Commission disciplined and fined Jackson $10,000 in January. While he was president and director of Hard Creek Nickel (HNC-V), formerly Canadian Metals Exploration, the company posted projections of potential nickel and platinum resources on its web site before sufficient exploration had been done, and without identifying the figures as conceptual or potential resources rather than estimates of resources that had been drilled. Jackson remains president of Starfire.