Monster Copper (MNS-V, MCPRF-O) has picked up properties in two different parts of Labrador, both of which cover areas where Newfoundland government geochemical surveys detected uranium.
One property, McKay Lake, is about 70 km northwest of the Churchill Falls power project, on the road connecting the project to the rail line between Schefferville and Sept-les. Government lake sediment data, reinterpreted by a geochemical consultant for the company, indicated possible uranium enrichment above regional background levels, as well as high concentrations of other elements that frequently occur along with uranium.
The property, which Monster staked, is about 67 sq. km in area and covers granitic intrusions and felsic volcanic rocks that host uranium occurrences and prospects further east in the Central Mineral Belt.
Monster has assembled another land package, Aillik East, on the Labrador coast 60 km south of Makkovik. The 135-sq.-km property covers Aillik Group volcanic rocks, the principal host rocks of the central Labrador uranium deposits, and government geochemical data shows high uranium concentrations in lake sediments. One showing, explored by Brinco and Placer Development in the late 1970s, returned 0.04% uranium in hematized and carbonatized Aillik Group volcanics.
Monster staked most of the property but has an agreement on 9 sq. km staked by prospector Paul McNeill. McNeill receives $1,000 cash and 60,000 shares, and retains a net smelter return of 0.5% on Monster’s whole property.
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