In May 2007, Consolidated Abaddon Resources announced an Option Agreement with Rubicon Minerals Corp. for the acquisition of a 100% interest in the Pukaskwa uranium properties totaling 102,720 acres located in the Central Ontario Uranium Lineament approximately 250 km NW of Elliot Lake in the Algoma Mineral district, Northwestern Ontario.
Overview of the Pukaskwa Uranium Project, Algoma, Northwestern Ontario In May 2007, Consolidated Abaddon Resources announced an Option Agreement with Rubicon Minerals Corp. for the acquisition of a 100% interest in the Pukaskwa uranium properties totaling 102,720 acres located in the Central Ontario Uranium Lineament approximately 250 km NW of Elliot Lake in the Algoma Mineral district, Northwestern Ontario.
Pukaskwa Area Claims Map Click to Enlarge
Regional Map Click to Enlarge
The Pukaskwa uranium exploration properties consists of 4 claim blocks; Denis Lake (23,360 acres), White River (23,360 acres), Esnagi Lake (33,600 acres), and McCrea Lake (19,520 acres). The claim areas staked were chosen based on the results of an Airborne Gamma Ray and in lake sediment survey that clearly identifies 4 strong anomalies.
The Company's claims cover a major structural flexure indicated by the magnetic signature. The area is underlain by late Archean intrusive rocks, and felsic volcanics and sedimentary rocks of probable Proterozoic age. The target could be a large-scale, intrusive associated, uranium mineralization potentially amenable to open pit mining. The Company proposes an extensive exploration program to prove out the geology and resource potential of the area.
Rubicon Minerals has granted to Consolidated Abaddon the exclusive right and option to acquire an undivided 100% interest in the Pukaskwa uranium properties for cash payments equivelant to Rubicon's cost of staking the properties (estimated to be approximately $200,000) plus 10%, and further cash payments in the amount of $165,000 and the issurance of 200,000 common shares of Consolidated Abaddon over the 4 year term of the Option Agreement. The agreement is subject to a 2% smelter return royalty (NSR) in favor of Rubicon. Consolidated Abaddon may purchase 50% of the NSR for $1,000,000.
Rubicon Minerals has retained a Back-In Right Agreement for the right to earn an undivided 20% interest in and to the Pukaskwa uranium properties within a period of 30 days following the first anniversary of the TSX Venture Exchange approval by agreeing to pay an amount equivalent to 300% of the amount of property expenditures incurred by the Company to that date.
Uranium
Joint Venture with Utah Uranium Corp. on Wild Claims -Drilling in Hanksville, Utah, United States of America
Projects
Joint Venture with Utah Uranium Corp. on Wild Claims -Drilling
Undefined
Is Producing?
No
Is NI 43-101 compliant?
Yes
No drilling program planned
Febuary 2008
300,000
The Wild claims consist of 23 mineral claims located within the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
Utah Uranium Corp. is in the process of permitting a drill program for the Wild claims. Historically, there were a number of drill holes made on the Wild property by Continental Oil Company in 1969. As part of their activities, down-hole logging was performed on these holes, revealing radioactive mineralization in 11 holes. It is the intention of the Company to drill in the vicinity of those previous holes in order to properly assess the uranium/vanadium content.
Uranium
Mann Lake Uranium Project, Athabasca Basin in Athabasca, Saskatchewan, Canada
Projects
Mann Lake Uranium Project, Athabasca Basin
Undefined
Is Producing?
No
Is NI 43-101 compliant?
Yes
Started drilling program
November 2007
0
Consolidated Abaddon holds interest in approx. 40,000 acres (160 square km) of highly prospective ground within the eastern flank of the Athabasca Basin in northern Saskatchewan. Triex Minerals is actively exploring Abaddon's 49% owned Mann Lake property, which is located approx. 25 km to the SSW of the McArthur River Mine and 15 km to the NE of Cameco's Millennium (U3O8) discovery, and occurs at the northern extent of the B1 conductor.
The adjacent property to the Mann Lake property of significance is the Cree Extension joint venture hosting the Millennium deposit to the southwest. Cree Extension is a joint venture among Cameco Corporation, as operator, JCU (Canada) Exploration Co. Ltd., UEM Inc., and Cogema Resources Inc. In 2000, Cameco discovered the Millennium Uranium Zone on the Cree Extension using geophysical and geochemical techniques. The Millennium uranium deposit is located approximately 15 km southwest of the southern boundary of Consolidated Abaddon's Mann Lake property.
The other property of significance is the adjoining Mann Lake property to the east. In June 2006, Cameco Corporation, UEM Inc., and Int'L Enexco joint venture on the adjoining Mann Lake property, which is "beside" Consolidated Abaddon's Mann Lake project to the east, announced successful drill results. Two holes were drilled and targeted the western most conductor within a resistivity low. One hole intersected the unconformity at 517.8 metres and encountered four narrow intervals of basement-hosted uranium mineralization within 12 metres of the unconformity. The two highest-grade intervals averaged 7.12% U308 over 0.25 metre and 5.53% U308 over 0.4 metre. In November 2006, Int'L Enexco announced Cameco has tripled its budget for the 2007 exploration on their Mann Lake property.
Uranium
Articles and Press Releases
Consolidated Abaddon & Triex Minerals Resume Drilling At Mann Lake Uranium Project, Athabasca, Saskatchewan
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Triex Minerals Corp. (TSX-V: TXM) has provided an exploration update on Consolidated Abaddon’s 40% owned / Triex Minerals 60% owned Joint Venture Mann Lake uranium project. The Mann Lake property is located 25 kilometres southwest of Cameco Corporation’s McArthur River uranium mine and 15 km to the NE of Cameco's Millennium (U3O8) discoveryin the Athabasca Basin of Northern Saskatchewan. Triex Minerals is the operator.
Schedules for drilling at the Mann Lake property have changed several times this winter, but the drill is now turning at Mann Lake. The first two holes of a four hole, 3,200 metre program were completed in December. The hole currently being drilled will test a fixed-loop EM conductor that occurs on the east-west structure that transects the property. Holes MN06-002 and 005 which intersected elevated boron, and clay-altered Athabasca Group sandstone, are located farther to the east along this structure. The final hole will follow-up more closely the clay alteration intersected in hole MN06-002.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the Athabasca Basin of northern Saskatchewan, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Triex Minerals Corp. (TSX-V: TXM) has provided an exploration update on Consolidated Abaddon’s 49% owned / Triex Minerals 51% owned Mann Lake uranium property. The companies continue to actively evaluate and advance the Mann Lake Project located in the heart of the eastern corridor of the Athabasca Basin of Northern Saskatchewan, 25 kilometres SW of the McArthur River uranium mineand 15 km to the NE of Cameco's Millennium (U3O8) discovery.
A four-hole, 3,000 metre drill program commenced last November at the companies Mann Lake project. Two of the holes were completed prior to year-end, with the remaining two holes planned for next month. One of the remaining holes will follow-up drill hole MN06-002 from 2006, which intersected 90 metres of intensely fractured, strongly bleached, and locally pervasively illite-altered sandstone at the base of the Athabasca Group (see photos at www.triexminerals.com). The final hole of this program will test a second target area in the western part of the property.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the Athabasca Basin of northern Saskatchewan, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces the signing of an Option and Joint Venture Agreement with Utah Uranium Corp. (OTCBB: UTUC) on the Wild Uranium Claims, located near Hanksville, Utah.
The Wild claims consist of 23 mineral claims located within the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
Utah Uranium Corp. is in the process of permitting a drill program for the Wild claims. Historically, there were a number of drill holes made on the Wild property by Continental Oil Company in 1969. As part of their activities, down-hole logging was performed on these holes, revealing radioactive mineralization in 11 holes. It is the intention of the Company to drill in the vicinity of those previous holes in order to properly assess the uranium/vanadium content.
Pursuant to the terms of the Option Agreement, Consolidated Abaddon has been granted a right to earn a 50% interest in the Wild property by paying the sum of US$75,000, issue an aggregate of 300,000 common shares to Utah Uranium over the two year term of the Agreement, and fund an initial exploration program in the amount of US$300,000. Consolidated Abaddon has been granted a right to acquire a further 10% interest in the Wild property by carrying out a further $300,000 work program on the Wild property by December 31, 2008. Consolidated Abaddon will also be responsible for paying its proportionate share of remaining option payments ($120,000) pursuant to Utah Uranium’s underlying option agreement with Christian (Ted) Murer (“Murer”) and its proportionate share of the Bureau of Land Management annual fees associated with the Wild Property.
Upon completion of all expenditures, cash payments and share issuances, Consolidated Abaddon will be deemed to have earned a 60% interest in the Wild Uranium Claims, subject only to a 2% royalty on vanadium and 4% royalty on U308 reserved to Murer under the underlying option agreement. Murer has granted a right to purchase 2% of the 4% royalty for the sum of $3,000,000 at any time prior to June 1, 2009.
Upon any commercial production, Utah and Consolidated Abaddon will be required to pay Murer a $300,000 yearly minimum royalty commencing June 1, 2010.
The Option Agreement is subject to the acceptance of the TSX Venture Exchange.
Utah Uranium Corp. acquired the Wild claims from Christian (Ted) Murer P.Geo, whom the Company also purchased the Pinto claims from, and who conceptualized, discovered and currently holds a production royalty on the Tony M mine as a prospector geologist. Ted assembled the Wild uranium claim package using the same data and methodology.
The first discovery, known as the Tony M mine, was made in the 80’s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
About Utah Uranium Corp.
Utah Uranium Corp. is a Moab, Utah based junior exploration and development company focused on the acquisition of past producing underground uranium mines that can be brought back into production in the near term with a low capital expenditure within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Denison Mines Corp. The White Mesa Uranium Mill is currently the only operating uranium mill in the United States.
For further information on Utah Uranium Corp. (OTCBB: UTUC) visit their web site at www.utah-uranium.com .
About Consolidated Abaddon Resources Inc.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan, SIMS BASIN of western Labrador, and the ALGOMA DISTRICT of northwestern Ontario. The Company is also developing a uranium properties east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Utah Uranium Corp.(OTCBB: UTUC) has informed theCompany that Utah Uranium has completed the first 10 holes of the first phase of drilling operations on the Pinto Uranium Project, located near Hanksville, UT. The $305,000 drill program is being financed 100 per cent by Consolidated Abaddon.
Material collected from the drilling has been sent to ALS Chemex Lab in Elko, Nevada for analyses. Results are expected in the next few weeks. In addition, results from down-hole Gamma Ray/SP/SPR logging of the drill holes, performed by Jet West Geophysical Services LLC, are also expected shortly.
Utah Uranium also announces that additional locations on the Pinto property are currently being permitted to facilitate additional drilling to commence early in the New Year. It is anticipated that permitting and contracts will be in place to commence these additional operations as early as the first week or two of January, 2008. Funding for this additional drilling is included in the original $305,000 budget.
Consolidated Abaddon has an option to earn up to a 60-per-cent interest in the Pinto property by fully financing a total of $605,000 in exploration and drilling expenditures, making cash payments totaling $550,000 and issuing a total of 550,000 shares to Utah Uranium over the 2 year life of the agreement.
The Pinto property covers 344 mineral claims, consisting of 6,800 acres in the Henry Mountain syncline of east-central Utah. The Henry Mountain syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium-bearing salt wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment. The first discovery, known as the Tony M Mine, was made in the 1980’s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony M Mine by Imperial Oil Corp., and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the Athabasca Basin of northern Saskatchewan, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp.,Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Triex Minerals Corp. (TSX-V: TXM) has informed theCompany that a diamond drill rig has been moved to Consolidated Abaddon’s 49% / Triex Minerals 51% owned Mann Lake uranium property located in the heart of the eastern corridor of the Athabasca Basin of Northern Saskatchewan, 25 kilometres southwest of McArthur River uranium mine.
Drilling is now underway at the Mann Lake project. Four holes are planned for a total of 3,200 metres. Two holes will be spaced closely around hole MN06-002, completed in September 2006, which intersected 90 metres of intensely fractured, strongly bleached, and locally pervasively illite-altered sandstone at the base of the Athabasca Group.
Two additional holes will test a second target area on the property not tested during last year’s program. The Mann Lake area continues to be active. Cameco Corporation carried out extensive drilling this summer to follow up basement-hosted mineralization discovered in 2006 on their joint venture property, which is on the eastern border of the Mann Lake property.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the Athabasca Basin of northern Saskatchewan, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Utah Uranium Corp.(OTCBB: UTUC) has informed theCompany that Utah Uranium has started drilling on the Pinto uranium project near Hanksville, Utah on Monday November 12th. The $300,000 drill program is being financed 100 per cent by Consolidated Abaddon. Consolidated Abaddon has an option to earn up to a 60-per-cent interest in the Pinto property by financing this $300,000 drilling program in addition to other requirements as disclosed below.
This first phase of drilling will encompass the drill testing of up to 20 holes in the massive salt wash member of the Morrison formation. Chip samples from each hole will be examined by geologists and evaluated with a Radiation Solutions Inc. RS-125 Scintillometer to determine uranium mineralization. Mineralized material will then be sent to an ISO 9000 certified laboratory for analysis. Jet West Geophysical Services LLC has also been contacted to provide down hole gamma-ray/SP/SPR geophysical logging of all holes.
The contract can be expanded to include up to 50 holes, coinciding with the permitted drill plan filed with Utah State and other regulatory bodies. Results of this phase of operations will be announced upon receipt and analysis.
About the Pinto Uranium Project:
The Pinto property covers 344 mineral claims, consisting of 6,800 acres in the Henry Mountain syncline of east-central Utah. The property is the subject of a joint venture agreement with Consolidated Abaddon. Consolidated Abaddon has an option to earn up to a 60-per-cent interest in the property by making payments to Utah Uranium totaling $550,000, issuing a total of 550,000 shares to Utah Uranium, and by fully financing a total of $605,000 in exploration and drilling expenditures over the 2 year life of the agreement.
The Henry Mountain syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium-bearing salt wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
The first discovery, known as the Tony M Mine, was made in the 1980’s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony M Mine by Imperial Oil Corp., and consists of an additional 12,924,000 pounds U308.These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the Athabasca Basin of northern Saskatchewan, Sims Basin of western Labrador, and the Algoma District of northwestern Ontario. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp.,Triex Minerals Corp., and Utah Uranium Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that Utah Uranium Corp. (OTCBB: UTUC) has informed theCompany it has filed the requisite reclamation bond and is now in receipt of final permits required for drilling the Pinto uranium property in East Central Utah.
Having received the final permits, a drill crew and rig are currently being mobilized to the property, with drilling to commence early the week of November 12th. Utah Uranium Corp. Technical Advisory Board member and expert uranium geologist Mr. Christian (Ted) Murer is joining other consulting geologists on site to assist in the overseeing of drilling activities.
The first phase drilling program will entail drilling of up to 20 holes out of a permitted 50-hole drill program. Results of the first phase drilling will be announced as received.
The Pinto property consists of 344 mineral claims totalling approximately 7,000 acres located the Henry Mountain Syncline Basin of East Central Utah. The property is the subject of a Joint Venture agreement between Consolidated Abaddon and Utah Uranium Corp. Consolidated Abaddon has an option to earn up to a 60% interest in the property by making payments to Utah Uranium Corp. totaling $550,000 CDN, issuing a total of 550,000 shares to Utah Uranium Corp., and by fully funding a total of $605,000 CDN in exploration and drilling expenditures over the life of the agreement.
About the Pinto Uranium Property:
Utah Uranium Corp. acquired the Pinto claims from Christian (Ted) Murer P.Geo, the prospector geologist who conceptualized, discovered and currently holds a production royalty on the nearby Tony M Uranium Mine. Ted assembled the Pinto uranium claim package using the same data and methodology in the identical geologic setting as the Tony M and Bullfrog Uranium Mines on strike to the south, targeting the down dip accumulation of uranium and vanadium within the Salt Wash member of the Jurassic Morrison formation. The Morrison formation is approximately 250-300 ft. thick in this area. Drilling depth to the top of the Salt Wash will vary in depth from 50 to 150 ft. depending on dip and topography. The present plan is to define the north-south trend of uranium accumulations within the various sands of the Salt Wash based on known uranium deposits in the area and the applicable theories of mineral migration.
The potential of the Pinto claims, the first claim block to undergo drill permitting, is for high grade (for the area) uranium and vanadium deposits. Based on area extrapolations, the deposits could hold significant amounts of uranium and vanadium.
The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration containing liberated uranium in solution within oxygenated waters flow down-dip within the formation into the trapped, oxygen free static waters within the basin, a reducing environment which precipitates out ore grade uranium resulting in a zone of major ore concentration, otherwise known as a roll-front environment.
The first discovery, known as the Tony M Mine, was made in the 80’s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds of uranium. Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony M Mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds of uranium. These mines are currently owned by Denison Mines Corp. and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan, SIMS BASIN of western Labrador, and the ALGOMA DISTRICT of northwestern Ontario.
Property partners include Denison Mines Corp. and Triex Minerals Corp.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company’s web site at www.consolidatedabaddon.com.
About Utah Uranium Corp.:
Utah Uranium Corp. is a Moab, Utah based junior exploration and development company focused on the acquisition of past producing underground uranium mines, highly prospective new uranium projects and other conventional and non-conventional energy projects. All of the uranium projects acquired to date, in addition to those under review by the company are within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Dennison Mines Corp..
For further information on Utah Uranium Corp. (OTCBB: UTUC) visit their web site at www.utah-uranium.com .
Pukaskwa Uranium Project, Algoma, Northwestern Ontario in Algoma, Northwestern Ontario, Canada
