- Generation Uranium (TSXV:GEN) reveals it has extended its footprint in the Yathkyed Basin in Nunavut thanks to recent acquisitions of the Yellow Frog and Pink Toad Uranium Projects
- The acquisitions include new targets encompassing 39.25 line-kilometres of historical VLF ground geophysics
- The new additions have also increased Generation’s ownership in the VGR trend to the west
- Shares of Generation Uranium are down 5 per cent to C$0.28 as of 1:09 pm ET
Generation Uranium (TSXV:GEN) revealed it has extended its footprint in the Yathkyed Basin in Nunavut thanks to recent acquisitions of the Yellow Frog and Pink Toad Uranium Projects.
In a news release, the company stated the acquisitions include new targets encompassing 39.25 line-kilometres of historical VLF ground geophysics and that Generation Uranium’s ownership in the VGR trend has increased to the west.
“Our attainment of the VIM Uranium Target, along with the extension of the VGR trend, represents a potentially significant step forward for our exploration program,” Anthony Zelen, CEO of Generation Uranium, said in a statement. “We look forward to further exploration activities on our newly acquired Yellow Frog and Pink Toad Projects once the necessary permitting is in place.
It is estimated that the VGR trend hosts several significant historical showings including the highly prospective VGR fault system, including three-to-seven-metre-wide steeply dipping carbonate/hematite veins and fractures containing uranium and sulphide mineralization in trachyandesite.
The trend also holds the potential for high-grade unconformity-type uranium mineralization on the property that is based on a combination of geological and geophysical factors.
These include the structural position in the Proterozoic basin, uranium mineralization associated with a clay-altered conductive fault zone and strong gravity anomalies.
Generation Uranium holds a 100 per cent interest in the Yath Uranium Project in Nunavut. The Yath project covers a possible western extension of the LAC 50 trend. The company also owns the Yellow Frog and Pink Toad Uranium projects on the Angilak Trend in the Yathkyed Basin, also in Nunavut.
Shares of Generation Uranium (TSXV:GEN) are down 5 per cent to C$0.28 as of 1:09 pm ET.
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