Rio Tinto Canada Uranium Corp. (RTCUC) recently started a drill program with two diamond drill rigs at its 40 percent owned Henday property.
Henday is strategically located northeast of the Denison/AREVA Midwest Lake deposit and RTCUC’s Roughrider deposit and bordering AREVA/Denison’s McClean Lake uranium mine and mill. RTCUC is drilling prospective structural, geophysical and geochemical targets identified from work carried out on the Elephant and Epitaph target areas.
The depth to the unconformity in the Elephant area is expected to be about 130 meters. One rig is presently testing the Elephant area with around 15 holes planned to be drilled to a depth of 450 meters.
The depth to the unconformity in the Epitaph area is expected to be about 150 meters. One rig is presently testing the Epitaph area with around five holes planned to be drilled to a depth of 450 meters.
RTCUC earned a 60 percent interest in Henday, while Forum holds the other 40 percent. RTCUC has the right to acquire an additional 10 percent interest in and to Henday by solely funding $20 million in exploration or delivering a Feasibility Study on the Henday property, whichever occurs first.
The current drill program is a step towards RTCUC earning its further interest in the project.
