projects > july uranium
The 2,330 hectare July Project is located within the boundaries of the Company's 100% owned, 38,000 hectare Regalo Property, and hosts a number of significant uranium zones explored historically by the Argentine government. Pacific Bay has an option to acquire 90% of the property from state owned Petrominera Chubut, S.E. Work completed by Pacific Bay in 2012 has outlined a 2 kilometer long, 3.5 metre wide zone of uranium mineralization. Company geologists have recommended drilling.
Situated within the favorable Los Adobes formation, the July Project was explored historically by CNEA, Argentina's state owned nuclear energy firm that is also the owner of the Cerro Solo deposit 40km to the south. Of interest were two uraniferous paleo-channels discovered along the hydro-electric power-line that traverses the property which to date have been traced in outcrop on surface for approximately 250 meters long on surface and measuring 1-5 meters in width, with high scintillometer readings traced along strike for 1,500 meters. The shallow dipping structures are near surface and have potential for significant tonnage. A brief reconnaissance of the July Project by Pacific Bay in March of 2011 returned grab samples up to 0.108% and scintillometer readings up to 9,000 counts per second.
Following up on this reconnaissance, Pacific Bay took sixty-nine rock samples from 20 hand trenches across the 2,000 metre long zone averaged 180ppm uranium over 3.5 metres thickness. Many higher grades values, up to 2,122ppm, were obtained within the 3.5-metre thick sandstone layer. Company geologists believe that the source of the remobilized uranium is the stratigraphically lower Arroyo Pajaritos member less than 100 metres beneath the surface. The Arroyo Pajaritos hosts of the largest uranium deposits in the region, such as the Cerro Solo deposit.
The uranium mineralization at the July Project is similar to Pacific Bay's "Regalo Norte" discovery announced in May of this year, approximately 3 km to the south, where reconnaissance prospecting revealed high scintillometer readings and assays up to 0.14% uranium over a 1km square area.