| Gold |
| Uranium |
| West-Millennium |
| Otish Basin Uranium Properties |
Otish Basin Uranium Properties
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Kodiak has an extensive land package covering 429 square kilometres of Quebec's Otish Basin, targeting high grade uranium mineralization. The projects encompass a wide range of geological settings, target types, showings, and geochemical anomalies. Much of the ground formerly belonged to Uranerz, a large European uranium company that explored the area extensively in the 1970s. The claims were allowed to lapse after uranium prices collapsed in the early 1980s. Kodiak began acquiring its claims in 2006 and 2007. Significant properties are summarized below. UR East
In fall 2008, Kodiak identified a new uranium showing located on Kodiak's UR East claims in Quebec's Otish Basin. Using hand trenches, Kodiak's field crew exposed a uranium mineralized shear zone more than three metres wide that gave readings on a RS-125 spectrometer of >10,000 ppm U (more than 1.18% U3O8). The field crew confirmed that the entire stripped area was radioactive; yellow uranophane, a uranium oxide mineral, is widespread. Geophysical maps indicate that the new showing coincides with magnetic features that are interpreted as gabbro dykes similar to those associated with uranium mineralization at Strateco's Matoush deposit (16.8 million pounds of U3O8 based on drilling to date). The dykes at Matoush are sheared and altered, and are localized along fault zones that cut through the basement rocks and overlying basin sediments. Kodiak has already identified more than 15 additional targets in the area of the new showing, and more than 90 kilometres of prospective magnetic structures remain to be explored. 308 West and UR
Kodiak's 308 West property comprises 1,874 ha on the north rim of the Paskwati Basin, an outlier southwest of the Otish Basin that contains sedimentary rocks of the same age. The UR property covers 6,239 ha on the northeast rim of the Otish Basin. On the 308 West claim block, Kodiak has located a new showing, a 30 by 30 metre outcrop of flat-lying rusty conglomeratic sandstone, that gave scintilometer readings up to 10,000 cps. The outcrop is located near the intersection of two magnetic structures that strike NE and NNW. A NE-trending gabbro dyke was found near the outcrop, confirming the magnetic interpretation, and indicating a geologic setting very similar to Matoush. Over 90 kilometres of prospective structures remain to be explored on this property. The historic Yvon showing also occurs on the 308 West claim block. Discovered by Uranerz, it consists of a narrow pitchblende vein in granite-gneiss bedrock that was traced for 15 metres but never drill tested. Radioactive boulders have also been found on the property, and historic lake sediment anomalies ranging from 405 ppm to 1,920 ppm U were recorded near the eastern edge of the claims. The UR property covers a six square kilometre train of more than 100 radioactive boulders discovered by Uranerz in the 1970s. These mineralized boulders returned values ranging from 0.12% to 4.13% U3O8. The boulders are angular and consist of hematite-altered granite. They appear to be locally derived, and are consistent with deep unconformity-style mineralization in the basement rocks. The company has seen no evidence to indicate that Uranerz drill-tested the property. Kodiak's 2008 airborne geophysical survey outlined a very large and intense radiometric anomaly on the UR property, in an area where a regional ESE fault cuts Archean bedrock about 2.6 kilometres up-ice from the head of the Uranerz boulder train. The radiometric anomaly measures 12 square kilometres with consistent values of 2,000 to 3,000 cps, confirming this as a possible source area for the boulders. While doing ground follow-up, Kodiak's field crew discovered two new radioactive outcrops three kilometres apart on the same ESE trend as the mapped fault, with readings of 7200 and 3600 cps. These showings confirm the cross-structure is a possible source for the boulder train, and deserves further exploration. They also discovered two new high grade boulders near the southwest end of the main boulder train that yielded readings of 54,000 and 45,000 cps respectively. Other Claim Groups
Kodiak’s Mat I, II and III claim blocks (903 ha) are in the western part of the Otish Basin. Kodiak’s Mat I claim block lies on the western rim of the basin, adjoining the northern edge of Strateco’s claims. This area is prospective for shallow unconformity-style uranium mineralization. The Mat II block is located between Strateco’s ground and Cameco’s claims to the south. The Mat III block is located to the west of Strateco’s Matoush discovery. The Mat II and Mat III claims are both prospective for perched and unconformity-style uranium mineralization. Kodiak’s RIM 1 through RIM 3 properties (21,874 ha) are located along the east rim of the Otish Basin, in an area containing the high concentrations of uranium showings and anomalies. Many of these showings and anomalies are located along or near faults which cross-cut the basin sediments, making these properties prospective for unconformity and perched-style uranium mineralization. The 308East claim block covers 1071 ha on the north margin of the Paskwati Basin, and includes a cluster of historic uranium geochemical anomalies and mineralized boulders along the northern extension of a north-south gabbro dyke similar to the one associated with the uranium-bearing Matoush structure. The source area for these anomalies is considered to have the potential to host the root zone of an unconformity deposit at the west contact of the gabbro dyke.
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