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Hornby Bay Basin
Mountain Lake Project
Sandy Creek Property
Dismal Lake Project
Kendall River Property
Athabasca Basin
Athabasca Overview
Pasfield Lake Project
Stony Road Project
Mann Lake Project
West Carswell Project
Wollaston NE Project
Old Fort Bay Project
River Lake Project
Highrock Project
Alaska
Boulder Creek Project
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The Athabasca Basin, a region located in parts of Saskatchewan and Alberta, is known for excellent geological structures that host a number of world class uranium deposits with extremely high grades, profitable existing operations, available infrastructure, and a favourable permitting and development environment. Mann Lake Project Latest News • A $1.2 million, first phase drilling program of 3,510 metres of NQ diameter diamond drilling was completed in 5 drill holes has been completed at Mann Lake • Drilling Confirmed Hydrothermal Alteration Location The Mann Lake Property is located in the eastern Athabasca Basin in northwestern Saskatchewan. It is approximately 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. It is 15 kilometres to the northeast along-strike of Cameco's recently discovered Millennium deposit (drill-indicated resource as of Dec. 31, 2005 of 449,000 tonnes uranium at 4.63% U308; Cameco Corporation, 2006 CIM Uranium Field Conference, Program with Abstracts). Size The property consists of a single mineral claim which covers 3,473 hectares. Ownership The property is joint ventured with Consolidated Abaddon Resources. Triex can earn an initial 51% joint venture interest in the property by incurring $1,500,000 of exploration expenditures on or before March 20, 2007, and making a cash payment of $50,000. The Company can increase its interest to 60% by incurring a cumulative $2,500,000 of expenditures on or before March 20, 2008, and can further increase its interest to 70% by spending a cumulative $3,500,000 on or before March 20, 2009; cumulative cash payments will be $125,000 at 70% earn-in. Annual work commitments for the property are $41,676; the First Anniversary date is October 29, 2006. Exploration Budget The total exploration budget for Mann Lake in 2006 was approximately $1.5 million, of which a $1.2 million drilling program is planned for July-August 2007. 2006 Exploration Summary October • A $1.2 million first-phase drilling program was completed in September-October, 2006, contracted to Hy-Tech Drilling Ttd., Smithers, B.C. • Five holes were completed for a total of 3,510 metres • All holes were probed with a Mount Sopris 2PGA-1000 poly-gamma probe. PIMA II spectral data were collected systematically from drill core to evaluate clay alteration minerals. A total of 470 samples were collected for geochemistry and processed at the Saskatchewan Research Council. All geochemical results have been recieved. • The drill program tested one high priority target area as identified during the compilation and data analysis work coordinated by Saskatchewan Research Council. • All targets are based on an integration of clay alteration and uranium and boron anomalies from surface boulders (Assessment Report data), discreet northerly trending conductors, sharp magnetic contacts, resistivity changes in Athabasca Group sandstone, and structural features. September Additional geophysical and remotely sensed data sets have been acquired from the public and private domain and integrated into the Company's existing project GIS database in order to facilitate a detailed lineament analysis focused on the potential for structurally controlled uranium. Senior researchers at the Saskatchewan Research Council co-ordinated the study. Five integrated target areas were identified for drill testing, based on structure, magnetic features, and geochemistry. May A 670 line-kilometre helicopter-borne V-TEM survey (magnetics and EM) was completed by Geotech Ltd. of Aurora, Ontario. January A winter ground geophysics program, designed to better define conductors and structural features, was completed in January, 2006. Surveys were done both parallel to, and orthogonal to, the B1 conductor trend. The winter geophysical camp was established on the eastern shore of Marean Lake by Patterson Geophysics Inc. of La Ronge, Saskatchewan. Three, five-kilometre long profiles of moving-loop, time-domain EM. MWH Geo-Surveys of Salmon Arm, B.C., mobilized a gravity survey crew to the camp in January 2006 and measured approximately 1,100 stations on 12 lines totaling approximately 52 line kilometres. Geology and Exploration History The Mann Lake area remains an active and high profile exploration region within the Athabasca Basin. International Enexco (IEC) announced on November 14th that partner Cameco Corporation has tripled the exploration budget for work on claims immediately to the east of the Mann Lake Property. On June 20, 2006, the companies reported a new discovery from a two hole, 1259 m drill program: 7.12% eU308 / 0.25 m and 5.53% eU308 over 0.4 m, hosted in the basement, some 12 m below the unconformity which was intersected at 518 m depth. • The Mann Lake Property is within the corridor of uranium deposits in the eastern part of the Athabasca Basin which supplies one third of the worlds primary uranium supply. • It is approximately 25 kilometres southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world. • The region between McArthur River and Cree Lake at the southern margin of the basin has been, and continues to be, extensively explored. A prospective, regional hydrothermal zonation is defined based on clay, chlorite and tourmaline minerals. • Regional conductors are drill-tested at reconnaissance spacing, but there are no previous drill holes on the property. • The property is centered on an area of discontinuity, or offset, of regional conductors, namely the B1 conductor which is spatially associated with Cameco Corporation's Millennium Deposit approximately 15 kilometres to the south. There are no previous drill holes on the property. • A ground-based TEM survey of four east-west lines was completed in 1999. Four weak conductors were defined at Marean Lake. • Two northwest-southeast lines of gravity were completed in 2005 and define a gravity contrast boundary zone which is orthogonal to the regional grain of conductors; the boundary is possibly an offsetting structure. |
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