The company completed a first phase of drilling on the Wolverine property in the eastern Athabasca Basin, Saskatchewan.  The program consisted of four drill holes totaling 1,409 meters that tested two geophysical target areas.  Anomalous radioactivity up to 10,400 cps (>100x background) was observed in down hole gamma probe data in one of the holes. 

A high definition helicopter airborne magnetic and radiometric  geophysical survey was completed  on the Dome property in Namibia.  This 1,880 line kilometer survey will aid in the mapping of Damaran stratigraphy and leucogranite (commonly referred to as Alaskite) at Dome North, in preparation for a drilling program planned for later in the summer.

At the company’s Annual General Meeting, all resolutions were passed, including the re-election of all of the current directors, along with Steve Blower.  At a board meeting following the AGM, Steve was named President and CEO.  Ted Trueman was named Executive Chairman.

The company received all analytical results from the winter drilling programs in the eastern Athabasca basin.  Significant alteration and/or anomalous radioactivity were observed at the unconformity in all six holes drilled on the company’s 100% owned Gumboot property and in one hole on the adjoining Johnston Lake property that was optioned in early 2009 from Denison Mines Corp.  Six holes were also completed on the Marten property.  Four of these holes intersected basement alteration.  Marten was optioned to Japan Oil, Gas and Metals National Corporation (“JOGMEC”) in 2009.  

Analytical results for samples collected during the March 2010 exploration program on the Dome property, Namibia were also received.  The program consisted of geological mapping and sampling designed to follow up on the results of December 2009 exploration that identified a new occurrence of radioactive leucogranite (commonly referred to as alaskite) in outcrop.

A total of 54 samples of leucogranite were collected, thirty four of which are 15 cm long core samples obtained with a portable hand drill.  The others are grab samples.  Nine samples, five of which were core samples, contain greater than 200 ppm U (0.024% U₃O₈).  The highest uranium value was 5,140 ppm U (0.61% U₃O₈) from a grab sample containing visible yellow uranium oxide mineralization; the highest core sample contained 352 ppm U (0.042% U₃O₈).

The analytical results are being compiled with other data to identify targets for a reverse circulation drill program later in the year, following a planned high definition airborne magnetic and radiometric geophysical survey.  The drill program will also test uranium mineralization in calcrete hosted targets generated by ground electromagnetic surveying and drilling late last year.

The company has completed a geological mapping and sampling program to follow up on the results of December 2009 exploration on the Dome North property, Namibia, that identified an occurrence of radioactive leucogranite in outcrop.

Detailed geological mapping of a synclinal structure has outlined leucogranite outcrop or subcrop totaling about 50 hectares in three distinct areas; the North Hinge, South Hinge and Ridge zones.  To date, significant radioactivity has been identified at the North Hinge and South Hinge zones.  The uranium content of some radioactive portions of leucogranite is being estimated with a ground spectrometer survey and rock samples.  Analytical results are pending.

Results of this program will be compiled with other data layers to identify targets for drill testing later in the year.  That drill program will also test uranium mineralization in calcrete hosted targets generated by ground electromagnetic surveying and drilling late last year.

The company completed its winter exploration program in the Athabasca Basin mid-month.  Drilling was completed on the Gumboot and adjoining Johnston Lake properties.  Electromagnetic and gravity surveys and drilling were also completed at Marten and Wolverine, which are under option to JOGMEC.

Six holes, totaling 4,786 m, were drilled at Gumboot.  Significant alteration and/or weakly anomalous radioactivity were observed at the unconformity in all six holes.  The program extended the alteration zone along strike to the north and south.

One 710 m hole was completed on the Johnston Lake property to follow up on the results of a detailed core review and re-sampling program completed in the summer of 2009.  A short interval of intense sandstone alteration immediately above the Athabasca unconformity was intersected.  Oriented core measurements suggest that the primary target at this location is still untested.

A total of 72 km of line cutting was completed on the Marten and Wolverine properties.  This was followed with 72 km of ground gravity surveying on both properties and 18 km of electromagnetic surveying at Marten.   Six drill holes totaling 984 m were then completed at Marten.  No significant radioactivity was observed but anomalous alteration and faulting are present in four of the holes.

A new uranium occurrence was found on the Dome property, Namibia.  Two surface grab samples, collected from an outcrop of coarse-grained, leucocratic granite in the Dome North area, contain 149 and 152 ppm U₃O₈.  Very little exploration has been done in this area and further prospecting and geological mapping are required prior to initiating a drill program.

Also at Dome North, 250 line-kilometers of detailed electromagnetic surveying outlined a large, previously unrecognized area of anomalous conductivity that may reflect buried calcrete paleochannels.  This exploration was following up on calcrete-hosted uranium mineralization intersected in recently completed drill holes.  The mineralization, with grades up to 352 ppm U₃O₈ over 1.0 meter in drill holes, is open along strike.  Surface grab samples in proximity to the drill holes contain up to 0.19% U₃O₈.  Drilling to follow up on previous drill intersections and to test the new conductivity targets is being planned.

Early in the month, core drilling and ground geophysical surveying resumed on the company’s eastern Athabasca Basin properties.  Fourteen drill holes totaling 7,000 meters are planned for the winter season on three different properties; Gumboot, Johnston Lake and Marten.

The first hole of the winter season was collared at Gumboot on January 14.  Seven holes are planned at Gumboot to follow up on significant uranium, nickel and cobalt mineralization intersected in 2009.  One hole will also be drilled on the contiguous Johnston Lake property, optioned in early 2009 from Denison Mines Corp., to follow up on the results of a detailed core review and re-sampling program completed in the summer of 2009. 

Line cutting has been completed and gravity surveying has begun on the Wolverine and Marten properties, which are under option to Japan Oil, Gas and Metals National Corporation (“JOGMEC”).  Ground electromagnetic surveying and 1,200 meters of diamond drilling are also budgeted for the winter program on Marten.