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No, we're in Kansas, Toto, but we are in the stage of intense activity along the southern edge of the Athabasca Basin, where Tribune Uranium Cor...

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No, we're in Kansas, Toto, but we are in the stage of intense activity along the southern edge of the Athabasca Basin, where Tribune Uranium Corp. (TSX-V: TCB) has begun drilling for uranium at its Botham Lake property. The company is working with the recent discovery of Cameco's Centennial Zone, which reports 18.3% U3O8 over 5.3 meters. The property lies just south of Tommy Davis Bay (Cree Lake), approximately 254 km north-northwest of La Ronge and 53 km west of the uranium mine and Key Lake.

The company has five projects, three are strategically located in the Athabasca Basin: Botham Lake (19,099 ha), Dufferin Lake East (18,790 ha) and North Shore (117,853 ha). To complete a diversified portfolio recently acquired by quartz and green claims in the district Manitoba's Reed Lake mining, Potonico and gold / silver project in El Salvador.

So far, nine of Botham Lake anomalies were identified from the results a line 826 kilometers of aerial surveys in 2006 Megatem. The work program for the summer and autumn of this year involved more exploration and analysis to identify possible drill targets. To date, 20 drill targets high-priority anomalies were identified. Plans are to a total of 4,000 meters of drilling in four of the nine anomalies (B1, B2, B4 and B9). The company follows the recommendations in its report 43-101, which states that "Additional work is recommended for properties, but the work should focus on test drilling areas containing the four strongest anomalies conductor, B1, B2, B4 and B9, detected during the aerial inspection GEOTEMAS and magnetic anomalies and ground surveys in the block HLEM Botham Lake claims. Secondary (and tertiary, in B1) trends were identified using magnetic conductors and ground surveys along HLEM networks B1, B45 and B79, which is not apparent from studies geophysical air. Eight to nine diamond boreholes at depths of 600 meters is recommended exercise test anomalies identified the driver. "

Saskatchewan is the world leader in uranium production at home to the largest uranium mines in the world with sufficient resources for over 40 years in production current. There three uranium mines currently in production in the Athabasca-Eagle Point, McArthur River and McClean Lake. In 2005, these mines have produced 28% of world uranium. One month December 31, 2006, uranium reserves in the province amounted to 673.6 million pounds. U3O8, with new deposits are discovered constantly – with a potential energy estimated at 5.7 million tons of coal or 20 million barrels of oil.

According to the latest uranium in Saskatchewan, a fact sheet produced annually by the industry in Saskatchewan uranium mining, "production of uranium deposits of high grade Athabasca Basin began in 1975 at Rabbit Lake. The richest uranium deposits in the world occur in or near the base sequence of sandstones of the Athabasca Basin, near the unconformity with the erosion of underlying crystalline rocks. Today, all deposits of Canadian production of uranium is in the basement and discrepancies related, and Key Lake, Cluff Lake, Rabbit Lake (all now depleted), and McClean Lake and McArthur River deposits. Other deposits large, exceptionally high grade unconformity is related to developing to include Cameco Cigar Lake (averaging almost 20% U3O8 with zones running over 50% U3O8). Interestingly, due to flooding, the production has been delayed at Cigar Lake until 2010 – and some analysts suggesting that this decline is an important factor in maintaining high prices for uranium.

This decade has seen of rising uranium prices of $ 15/lb world. at beginning of year 2001 to a maximum of $ 135/lb. in July this year before returning to around its current platform of $ 90/lb. This dramatic increase reflects the growing concern over the pending supply shortages. Already, eighteen nuclear power plants provide about 15% of the Canadian electricity. In 2030, world electricity demand will double the option to make nuclear more attractive to help meet growing energy demand clean and affordable.

Tribune has a good chance of success particularly in the Athabasca for several reasons. The administration has built a strong portfolio properties in the region with the main claims adjacent to or near Cameco's reserves verified. He has successfully negotiated agreements with joint venture partners with experience in the Athabasca, namely fission Power in the ownership of the North Coast. Mining friendly governments, the public acceptance much wider nuclear past, and the voracious global demand for uranium has done much to pave the way for the production company.

The next weeks will be interesting for investors in the company, and some positive results, there must be a twist on the classic old lions and tigers and bulls, oh my!

This article is for informational purposes and does not constitute a recommendation to buy or sell shares of any company mentioned herein. It is based on sources considered reliable but no warranty as to the accuracy, express or implied. The opinions expressed in this article are the author, except when statements attributed to others the author, in which case the opinions are those of the person to whom are attributed.

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Article Source: ArticlesBase.com – Tribune Follows the Yellow Brick Road as it Drills for Uranium in the Athabasca

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