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Source: Britannica
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  • International Prospect Ventures (IZZ) has staked an extensive land package in the Elliot Lake Uranium Camp in Ontario
  • The new property is named Elliot Lake North and covers four historical uranium showings
  • The property lies within the prospective uranium bearing rocks of the host Matinenda Formation
  • The property comprises 119 mining claims covering approximately 2,583 hectares
  • International Prospect Ventures is unchanged, trading at $0.19 at 9:35 am ET

International Prospect Ventures (IZZ) has staked an extensive land package in the Elliot Lake Uranium Camp in Ontario.

The new property is named Elliot Lake North and covers four historical uranium showings in the northern limb of the Quirke Syncline.

The showings are named Candore, Span-North, Zenmac, and Callinan, as defined by historical drill hole intercepts.

The property lies within the prospective uranium-bearing rocks of the host Matinenda Formation.

The property lies along strike to the northwest of past-producing Denison Uranium Mining Complex. It comprises 119 mining claims covering approximately 2,583 hectares.

The Elliot Lake Uranium Camp was a significant producer of uranium in Canada until the closure of the Denison Mine in 1992.

“We are pleased to announce our third uranium project, this one strategically located in the Elliot Lake Uranium Camp. Historically, the Elliot Lake region played a major role in Canada’s uranium production and I consider it a top tier region for uranium exploration and potential new discoveries,” said International Prospect CEO Martin Walter.

At its height in the 1950s, there were 12 mines and three mills established in the Elliot Lake region with all of the historical uranium mines brought into production between 1955 and 1958. Mines of the two largest past producers, Denison Mines and Rio Algom were located on the north and south limbs of the Quirke Syncline, a gently folded westward plunging syncline comprising Paleoproterozoic Huronian Supergroup sedimentary rocks.

International Prospect Ventures is unchanged, trading at $0.19 at 9:35 am ET.

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