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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
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Mann Lake Project
West Carswell Project
Wollaston NE Project
Old Fort Bay Project
River Lake Project
Highrock Project
Alaska
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West Carswell Project Latest News May 2008 Triex acquired two claims immediately to the east of its West Carswell property. The two claims cover 2,101 hectares and are located 25 kilometres northwest along strike from Shea Creek and 15 kilometres southwest of the Cluff Lake mine, from which there is road access through the claims. New Acquisition The new claims cover the Harrison Fault, a regional shear zone which runs along the eastern boundary of the West Carswell property. Drill holes WC-001 and 004 were the closest to the fault of the four holes completed during the 2006 program on the West Carswell Property, and both warranted follow-up drilling based on anomalous boron in more than 100 metres of Athabasca Group sandstone in Hole 001, and on extensive brecciation and dissolution textures over more than 400 metres of sandstone in Hole 004 (see News Release dated Sept. 20, 2006). A two-stage Option to Purchase agreement allows Triex to purchase a 100% interest in the two claims from an unrelated private company by: (i) a committed, up-front payment of $50,000 and issuing 50,000 common shares of Triex following acceptance of the transaction by the TSX Venture Exchange, and (ii) a cash payment of $225,000 on or before November 1, 2009, with no further shares issued. The vendor has retained a 2.5% royalty interest, with Triex having the right to purchase three fifths of such interest for $1,500,000 at any time prior to, or within six months after, the date commercial production has been achieved on the claims. Location The West Carswell Property is located south of the western end of Lake Athabasca in northwestern Saskatchewan. The center of the property is approximately 15 km to the southwest of COGEMA Resources's Cluff Lake Mine, and 15 to the northwest of the Shea Creek Deposit being actively explored by COGEMA Resources Inc. and partner UEX Corporation. Provincial Highway 955 provides access to the region. Size The property consists of two Mineral Claims which cover an area of approximately 8,100 hectares. Ownership It is 100% owned by Triex. 2007 Exploration Follow-up drilling is warranted for the West Carswell Property. Breccia zones in Holes 1, 3 and 4 will be evaluated during a future drill program. 2006 Exploration Summary The winter exploration program at West Carswell utilized established road infrastructure associated with the Cluff Lake Mine, and Provincial Highway 955. A grid-based UTEM survey was completed in January 2006. A total of 49 line kilometres were surveyed by SJ Geophysics of Vancouver, B.C. An east-west trending anomaly orthogonal to the regional tectonic grain, and mimicking the MEGATEM II anomaly, was produced. A first-phase drill program was done in February-March, 2006, contracted to Hy-Tech Drilling based out of Smithers, British Columbia. A total of 3,400 m was completed in four holes. All holes were probed with a Mount Sopris 2PGA-1000 poly-gamma probe. PIMA II spectral data were collected systematically from core to evaluate clay alteration minerals. A total of 247 samples were collected for geochemistry and processed at the Saskatchewan Research Council. Uranium mineralization was not intersected in any of the four holes, but geological features favourable for uranium deposits in the western Athabasca Basin are evident in two holes and will be followed up during the first quarter of calendar 2007. Holes 06-WC-001 and -002 targeted the easterly-trending conductivity feature normal to the regional northwestern magnetic grain. The first hole, located where the conductivity feature intersects the northerly-trending magnetic contact, warrants follow-up. This hole is dominated by steeply dipping quartz fault and hydrothermal breccia zones between 3 and 30 metres wide (core thickness), starting at 185 metres downhole. Boron content ranges from 9 to 316 ppm in the hole, and is consistently over 50 ppm within a 120 metre interval of sandstone between 700 and 820 metres that lies immediately above the basal conglomerate unit and which contains greater than 50% fault breccia.unconformity, which is at 707 metres depth. Basement granitoid lithologies are hematitic and radioactive. Holes 3 and 4 targeted the margins of magnetic lows where they are offset by dextral east-west faults. Both holes contain abundant, steeply dipping breccia zones with fault and dissolution fabrics up to 11 metres wide in Hole 3 and 30 metres wide in Hole 4. The zones occur between 83 and 428 metres depth in Hole 3 and between 115 and 634 metres in Hole 4. Anomalous radioactivity extends for 60 metres above the unconformity, which is at 707 metres depth. Basement granitoid lithologies are hematitic and radioactive. As in Hole 1, boron levels are commonly above 80 ppm. 2005 Exploration Summary A MEGATEM II electromagnetic survey was flown on east-west lines across the property by Fugro Airborne Surveys in August 2005. A follow-up survey was flown on north-south lines in October, 2005 to better define the anomaly. Each survey was approximately 400 line-km. The surveys outline a strongly conductive feature named the MP Anomaly. It is most clearly defined at depth (late time EM responses). It is approximately 4.3 km long east-west by 1.2 km wide north-south, oblique to the regional northwest-southwest grain on regional magnetic maps. Geology and Exploration History There are numerous uranium occurrences in the Carswell structure (SMDI: Saskatchewan Mineral Deposit Inventory occurrences). The nearby Cluff Lake Mine of COGEMA Resources Inc. operated for 22 years, producing some 63 M lbs of U308 (Geology, Mineral and Petroleum Resources of Saskatchewan; Saskatchewan Industry and Resources, 2003). The Shea Creek prospect south of Cluff Lake is perhaps the highest profile advanced-stage exploration project in the Athabasca Basin. It comprises the Anne and Collette Deposits discovered by COGEMA Resources Inc. in 1996; the historic resource estimate of 47Mlbs U308 by COGEMA for the Anne deposit alone is equal to nearly three quarters of the mined reserve at Cluff Lake. Current exploration under a joint venture with UEX Corporation has resulted in numerous new intersections of high grade uranium, including 27.4% U3O8 over 8.8 m announced on July 13th, 2005, 7.73% U3O8 over 14.1 m announced September 14, 2005, and 12.57% U3O8 over 11.9 m on June 6, 2006. The West Carswell property is within the same basement domain as both Cluff lake and Shea Creek, defined by narrow, northwest-southeast trending zones defined on regional aeromagnetic maps. There are no previous drill holes on the property. |
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