There is no doubt that as with iron ore, hydro potential, nickel copper and cobalt - urnaium is about to become a real interest in Labrador. The question is what do we do with this resource?
Hydro ---> gone to Quebec
Iron Ore ---> gone to Quebec
Nickel ---> some here some to Ontario with guarantee for replacement to the Island processing facility.
Uranium ---> yet to be determined - but there is a tremendous opportunity - right now - for Labrador to use it's uranium and power potential for the development of a century. The question is - are our politicians - federal and provincial able to do the job and get in on the action? It is not a good sign that they did not say anything first about this opportunity - it's doubtful all the people we pay to do this work, including Minister Kathy Dunderdale, even know.
Below is an update on the Sims Lake Uranium Project. The very next post on Sue's Blog will reveal the opportunity just begging for a "real businessperson" to take the lead.
Information below is part of a News Release from Consolidated Abaddon
Sims Lake Uranium property, Labrador
Consolidated Abaddon announced on August 31st that the summer / fall exploration program on Consolidated Abaddon's Sims Lake uranium project located northwest of Churchill Falls in western Labrador is now underway. International Uranium Corporation is the operator and has been granted the right and initial option to acquire a 51% interest in the uranium rights to the Sims Lake property over a period of two years.
Sims Lake U3O8 Project, Labrador Location Map:
It is anticipated that the initial drilling will consist of 4 - 5 holes covering two main target areas. A conductor has been confirmed as lying beneath the Sims Formation rocks at or near the unconformity with the Knob Lake type rocks. Reducing environments (conductors) in this environment present attractive uranium drill targets.
The similarity in ages and relationships between the Sims Lake Formation and the Knob Lake group of rocks makes the western Labrador setting analogous to other Proterozoic basins around the world that host unconformity type uranium deposits, most notably the Athabasca Basin of northern Saskatchewan. The depth to the perceived unconformity in the Sims Lake Basin ranges from surface to 150 metres on the property.
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