Projects

Baker Basin, Uranium, Nunavut

The Baker Basin Project is located in an emerging uranium district in south-western Nunavut, Baker is over 190,000 hectares in size and is known to host at least 20 uranium prospects. These prospects occur along a 60-kilometre length of the southern boundary of the Baker Lake Basin, a favourable setting for high-grade uranium occurrences: Pacific Ridge recently reported a drill hole grading 0.30% U3O8 over 17.3 metres.

The Baker Lake Basin is one of four Proterozoic Age basins within the Canadian Shield that are host to uranium deposits, including the Athabasca, Thelon and Hornby Bay basins.

Prior explorers completed airborne radiometric surveys in 1969 and 1974 that defined a trend of uranium targets along the 60 kilometre length of the southern boundary area of the Baker Lake Basin. Intermittent follow-up exploration programs by New Continental Oil, Pan Ocean, Cominco and Noranda during the period 1969 thru 1981 outlined 'in place' as well as glacial boulders containing uranium mineralization. No significant uranium exploration has been reported in the area since the early 1980's until Pacific Ridge inaugurated a comprehensive program in 2006.

Based on an extensive exploration program, including grid-controlled ground radiometric surveys, prospecting surface sampling of 5 separate uranium targets, and 5550 meter of drilling on three uranium zones, Pacific Ridge has outlined attractive near-surface structurally controlled uranium mineralization that warrants aggressive exploration to establish 43-101 compliant resources.

The Baker Basin Project was optioned to Aurora Energy, who subsequently has advised that after their amalgamation with Fronteer Development Group, they no longer wish to participate in further exploration. In which regard formal notification is expected in due course.

Lucky-7 Zone

Lucky-7 is a new prospecting discovery made during the summer of 2006. Uranium mineralization at Lucky-7 Zone is associated with fracturing and clay alteration of the Baker Basin Kazan sandstone within a northerly trending sub-vertical structural corridor emplaced with a mafic dyke. Mineralization occurs on both the east and west contacts of the dyke. To date, thicker sections of the dyke appear to be associated with thicker zones of uranium mineralization.

A ground radiometric survey was completed over an area measuring approximately 2 kilometres by 2 kilometres that defined a northerly trending radiometric target measuring 500 metres in length contoured with values of 200 cps.

The Lucky-7 Zone, now drilled to a depth of 500 metres, has been traced radiometrically for a 500 metre strike length. The average intercept of uranium mineralization based on 10 holes drilled to date is approximately 7.5 metres grading 0.22% U3O8 with the best intercept assaying 0.30 of U308 over 17.3 metres.

Click for 2006 drill hole assays from Lucky-7 Zone

Click for Lucky-7 Zone 2007 Drill Hole Assays

KZ Zone

The KZ Zone has been defined by a radiometric survey to be over 1 kilometre in length. Historic drilling of vertical holes along approximately 350 metres of the 1 kilometre target zone saw several holes with uranium values of 0.84% U3O8 over 5.4 metres at depths less than 100 metres from surface. The 2006 drilling program was the first attempt to test mineralized extensions to depth. The first four holes all intersected significant uranium mineralization (see Pacific Ridge news release dated October 18, 2006). During 2007, Pacific Ridge extended the uranium mineralization to a depth of 450 metre with holes 07 and 08.

The KZ Zone is similar to the Lucky-7 Zone in that uranium mineralization is associated with altered Kazan sandstone within a sub-vertical structure also emplaced with majic dyke. Pacific Ridge drilling has defined vertical continuity of uranium mineralization from surface to a depth of approximately 450 metres. Surface radiometric surveys by Pacific Ridge along with shallow drilling by prior workers have defined an approximate target length of 500 metres for teh KZ Zone. Dril hole assays received to date suggest the best uranium grades occur between depths of 50 to 200 metres. Continued drill testing along the length of the zone is warranted.

Drill hole assays from KZ Zone

Click for KZ Zone Drill Hole Results (2007)

7-One Zone
A new discovery, called the '7-one' Zone, is located 4 kilometres northeast of the previously announced discovery of the Lucky-7, as was reported on August 16th and September 28th.

The '7-one' zone has been outlined by a 300-metre-long and 100-metre-wide grid-controlled radiometric anomaly. Prospecting within the '7-one' radiometric anomaly defined an area of mineralized "fly rock" believed to have originated from bedrock exposed in nearby exploration pits. Assays of the mineralized sandstone range from 0.81% U3O8 to 1.83% U3O8 and average 1.29% U3O8. Uranium mineralization appears as disseminated blebs and thin bedding parallel black seams of pitchblende within coarse grained Kazan sandstone. The Kazan sandstone is the in-filling sediment of the Baker Basin. Evidence of structural control and dyking suggests potential for a sub-vertical mineralizing system, as well as a stratigraphic hosted zone. The '7-one' zone has a similar setting to both the Baker Basin Uranium Project's KZ and Lucky-7 zones that are currently being drill tested. The '7-one' zone has not seen prior drilling.

Significant Exploration and Development in the Baker Lake Region

The Baker Basin Uranium Project, located within the Baker Lake Basin, is immediately adjacent to the Thelon Basin where Areva Resources Canada Ltd. ("Areva") owns the Kiggavik-Sissons Schultz uranium deposits, located approximately 80 kilometres west of Baker Lake. Areva, in a November 2005 project presentation, reported that three of the Kiggavik uranium deposits contained a combined geological resource of 50,630 tonnes uranium (representing a non-43-101 compliant historic resource of 131 million pounds U3O8). It is of interest that Areva recently opened a community relations office in the town of Baker Lake.

Baker Lake, with summer access to ocean shipping and year-round airport facilities, brings important logistical support to mineral exploration and development underway in the Baker Lake region.

Located 70 kilometres north of Baker Lake is Agnico Eagle's 2,890,000 ounce Meadowbank gold deposit currently has a stockpile of pproximately 600,000 tonnes of ore grading 3.8 g/t gold with plant final commissioning underway and commercial production anticipated April 2010.

Pacific Ridge's disclosure of a technical or scientific nature are prepared under the supervision of George Norman, P.Geo, Pacific Ridge's Manager of Exploration, who serves as the Qualified Person under the definition of National Instrument 43-101. All of the above technical information has been obtained from reports within the government records as submitted by prior exploration companies, and although it cannot be verified, it is expected to be reliable.