Global Uranium earned into a joint venture on May 29, 2024 with industry leaders Cameco Corp. (TSX: CCO), NexGen Energy Ltd. (TSX: NXE), Orano Canada Inc., and Forum Energy Metals Corp. (TSX.V: FMC) to explore the Northwest Athabasca Joint Venture Project (the "NWA Project").
Located in the northwest corner of world-renowned Athabasca Basin region, immediately east of the Alberta-Saskatchewan provincial boundary and 75 km west of Uranium City.
The project covers 13,845 hectares of land, and is accessible by float-plane or barge in the summer; and, by ski-plane or winter road across the ice on Lake Athabasca in the winter.
Recent drilling intersected alteration and structures supporting the possibility of an unconformity uranium system presence.
Figure 1: Map of northern Saskatchewan, showing the location of the NWA Project.
Northwest Athabasca Joint Venture Project Geology
Located in the northwestern Churchill province, underlain by Archean gneisses, Paleoproterozoic granitoids, and supracrustal rocks of the Rae Structural Province, near the Taltson Magmatic Zone.
Lithological units have undergone numerous deformation events that have resulted in the development of various faulting and folding sequences.
Approximately half of the Project area is covered by quartz-rich clastic sediments of the Fairpoint Group.
Glacial and periglacial formations include ground moraine, eskers, outwash, aeolian, lacustrine and related deposits range from 2 m to 15 m in thickness.
Uranium is found in both basement-type unconformity-related uranium deposits and at the sandstone / basement interface.
Figure 2: Map of geological units on the NWA project. Sandstone mineralization has been historically discovered in the area;
modern exploration is searching for Unconformity and Basement mineralization.
Historical Work
2003-2007: Cameco Corp. (“Cameco”) Surveys
Cameco conducted airborne and ground geophysical surveys
Culminated in a 10-hole diamond drill program in 2008
2011: Forum Takes Over
Forum assumed operatorship
Conducted a ground gravity survey on the central part of the project
2012-2015: Forum’s Drill Programs
Forum completed diamond drill programs during this period
Unearthed new basement-hosted uranium discoveries named Opie, Barney, and Otis West
Notable intersection of 0.152% U3O8 over 39.5 m in NWA-63 at depths from 130.5 to 170m
2017: Soil/Till Sampling Program
Executed a soil/till sampling program to investigate potential boron anomalies down-ice of the gravity targets
Aimed to prioritize new targets for future drilling
Discovered strong boron signatures in the sandstones overlying the showings
Northwest Athabasca Joint Venture Project Recent Work
Phase 1: Addressed legacy site issues and prepared the project area for renewed exploration
Phase 2: Secured necessary exploration permits to advance work programs.
Phase 3: Built a remote exploration camp to support field crews.
Phase 4: Completed a modern ground EM and DCIP survey at the Spring Bay showing, which outlined a major coincident conductor overlapping a strong gravity anomaly.
Phase 5: Drill tested over 600 meters at the Zone 2A showing, intersecting fractures with elevated radioactivity (170 cps to 300 cps).
Figure 3: Map showing the NWA Project with showings of interest highlighted, present with a background of gravity data (areas of missing gravity data are shown in red).
Future Work
Phase 6 | Q1-2026
Complete infill gravity surveying to close gaps in existing coverage and sharpen resolution of key anomalies.
Phase 7 | Q2-2026
Conduct a detailed drone magnetic survey across the entire project area to better define structural controls and refine the geophysical framework.
Phase 8 | Q3-2026
Integrate magnetic and gravity datasets with historical work to prioritize anomalies and optimize drilling efficiency.
Phase 9 | Q1-2027
Execute a follow-up drill campaign to test the most promising targets identified by the targeting model.
