- Radium Point is a potential large-scale IOCG and uranium project
- The region is home to Canada’s largest historic uranium mine, El Dorado
- Exploration at large-scale Coppermine project to run simultaneously
Special Report: Crucial licence approvals for White Cliff Minerals’ Radium Point project have been granted, allowing the company to sign up contractors and plan exploration activities in an area known for its highly prospective iron oxide copper gold (IOCG) uranium mineralisation.
Earlier this month, the Canadian Government announced it would be streamlining mining and environmental approvals on provincial and federal levels making it faster and easier to get projects under way – and it looks like White Cliff Minerals (ASX:WCN) is an early beneficiary.
The project adds to its large-scale 805km2 Coppermine project in Nunavut, which WCN received approvals for last month.
Exploration begins at Radium Point
The Radium Point project area includes the historic El Dorado uranium mine – the largest of its kind in Canada when it was mined between 1930-1960.
Historical production (pre-1982) consisted of:
- 13.7Mlbs uranium;
- 34.2Moz refined silver;
- 11.38Mlbs of copper with gold credits; and
- 104,000kg lead, 127,000kg nickel and 227,000kg cobalt.
The project, in Canada’s North West Territories, has been identified by the provincial geoscience office as having the highest potential for large-scale IOCG uranium mineralisation in Canada.
WCN says work will focus on former mined areas for extensions to previously exploited mineral bodies as well as known outcropping prospects throughout the license area.
In preparation for drilling, it will deploy air and ground geophysics, rock chip sampling on previously identified outcropping high-grade uranium mineralisation and confirmation testing of larger geochemically anomalous areas throughout the broader project area.
Selecting the right contractors
WCN chair Roderick McIllree says with the granting of these licences, the company is now finalising contractor selection and anticipates kicking off exploration activities Q2 this year.
“The Radium Point program will run in close collaboration with planned work at Coppermine, the company’s recently granted district-scale copper project,” McIllree says.
“In some instances, White Cliff will use the same contractors, with geophysical programs culminating in extensive drilling on outcropping areas identified throughout this large-scale mineralised area over time.
“While focus will move to finalising operational aspects of the upcoming exploration program the company will also continue to work closely with local communities, indigenous groups and other stakeholders to ensure activities align with community expectations and these considerations are actively integrated into all activities.”
This article was developed in collaboration with White Cliff Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.