Bayswater has interests in over 2.6 million acres of land in the South Thelon Basin of the Northwest Territories. The Thelon Basin has similar geological characteristics to the Athabasca Basin and is largely under-explored. Bayswater has conducted airborne surveys over its properties and has identified a number of anomalous targets.

Location & History

Bayswater holds varying levels of interest in over 2.6 million acres of land in the South Thelon region of the Northwest Territories, approximately 500 kilometres east of Yellowknife. The Company's properties consist of two sets of claim blocks which cover a large portion of the eastern and western margins and a significant portion of the internal portion of the basin. The first claim block, the Northwest Block, consists of 438,677 acres of 100% owned property. The second, known as the Southeast Block, is a contiguous claim block consisting of 843,184 acres of 100% owned land, a 50% interest in 175,029 acres of "earn-in property" through the Canadian Uranium Joint Venture (CUJV) with Strongbow Exploration, and an 80% interest in 1,236,231 acres through an option from Uranium North.

Access to the property is by float plane and most exploration work is helicopter assisted from exploration camps.

Geology & Mineralization

The Northwest Block straddles the favourable margin of the basin characterized by major zones of basement structure, favourable basement peletic rocks, local high grade uranium occurrences on Bayswater's claims (including one grab sample that assayed up to 14.68% U3O8) and the extension to the southwest of the Boomerang Trend, a significant unconformity type uranium prospect.

The Southeast Block covers favourable basement structures, clusters and trains of radioactive sandstone boulders and local radiometric and lake sediment uranium anomalies.

Exploration

In 2006, Bayswater carried out an 8,667 line kilometre Fugro MegaTem II airborne survey within the Southeast Block. This outlined several favourable conductive zones with associated basement structures. One target occurring within Bayswater's CL claims lies along the 70 km conductive trend extending from the Boomerang uranium property and has strong potential to host unconformity-type high grade uranium deposits. Ground geophysical surveying commenced on some MegaTem II targets in the winter of 2007. Further ground geophysics is required on the other targets in order to bring them to the drill stage. Also in 2007, deep penetrating airborne EM surveys comprising over 7,000 line kilometres were conducted using the Geotech Ltd. VTEM system on portions of the Southeast Block not previously surveyed with MegaTem II. A total of nine EM targets have been identified, four of which, including the CL property target, are considered to be highest priority and will be the initial focus of further ground geophysical definition and drilling when permitting issues are resolved.

During 2007, Bayswater also carried out a 20,000 line kilometre airborne radiometric and magnetic survey of its property around the margin of the basin including the Northwest Block and the eastern portion of the Southeast Block. This survey identified 25 high priority radiometric anomalies. Follow-up work identified a significant uranium showing called the Hanbury Showing in the northwest portion of the Northwest claim block. Four grab samples assayed between 0.19% and 0.36% U3O8. This target requires further ground work prior to drill testing.

Exploration activities in the South Thelon are currently on hold pending resolution of permitting issues with the First Nations.  Bayswater, along with other companies working in the region, have embarked on a consultation process being lead by the Federal Minister of Indian and Northern Affairs, to hopefully resolve this matter.

View the South Thelon Photo Gallery.

Last updated May 29, 2009

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