projects > papaskwasati uranium
Pacific Bay controls mineral claims over several target areas of interest within the Papaskwasati Formation of the Mistassini Basin of Quebec's Otish Mountains region. PBM claims cover areas of surface uranium showings, airborne radiometric anomalies and historic radioactive drill hole intersections. In 2008, two uranium occurrences were discovered bordering Pacific Bay's Papaskwasati property. Drilling just east of Pacific Bay's 'East Fault Zone' returned results graded 0.051 per cent U3O8 over 2.64 metres, including a higher-grade section assaying 0.138 per cent U3O8 over 0.12 metre. In October, 2008 an outcrop was discovered near Pacific Bay's 'North Rim Group' returning multiple readings of 66,000 counts per second (equivalent to more than 10,000 parts per million uranium or 1.18 per cent U3O8).
During Q1 2013, the Government of Quebec prohibited all exploration, development and mining of Uranium in the Province pending a review of undisclosed purpose and duration. Pacific Bay has written-off 100% of its investment in the property as a result and all the claims will be allowed to lapse. Pacific Bay believes, if the effective moratorium on uranium is not lifted, the Company has grounds for compensation from the Government. The information below is provided for historical purposes only.
Like the Athabasca Basin and the nearby Otish Basin, the Papaskwasati (Pépeshquasati) Formation is predominantly a sandstone/conglomerate sequence of Proterozoic age. These claims host historical uranium showings, both at surface and in drill holes put down during the earlier uranium exploration cycles beginning in the late 1950's.
PacBay geologists have drawn their attention to the 300 to 500-metre thick section of sandstones and conglomerates of the Papaskwasati Formation, which resemble clastic sediments of its western Otish Basin counterpart — both lithologically and structurally. Like the Otish, the Papaskwasati is highly prospective for Athabasca Basin-type and Otish-type high-grade uranium deposits. Drill logs in historical assessment documents reported anomalous radiation in 3 holes drilled in 1969 in sandstones and conglomerates in the south-central portion of the Papaskwasati Basin. When plotted together with two of the surface uranium showings in the basin sandstones, they line up in a NW direction -- following the projection of the Takwa Greenstone Belt in the Archaean basement beneath the Papaskwasati Formation sediments. Pacific Bay has staked the basin where the favourable sedimentary sequence is thickest.
PacBay completed an airborne electromagnetic, magnetic and radiometric survey in August 2007 and received encouraging results finding significant elevated radiation in the northern and eastern portions of the Papaskwasati property. PacBay will follow up on these results with detailed ground magnetic-VLF/EM and radiometric surveys along with outcrop and glacial/boulder mapping in the summer of 2008. Drilling will follow as opportunities arise.