Bayswater Uranium Corporation - Niger Uranium

Niger, West Africa

Niger is the world's third largest producer of uranium with the fourth largest resources.
Bayswater concession applications cover up to 8000 sq. km. in highly under-explored areas.
Properties have similar geology and/or structural settings to the producing Arlit and Akouta uranium mines.
Six of 28 concessions have been granted to date.

Overview

Bayswater has applied for a 100% interest in approximately 2 million acres in the Tim Mersoi Basin of Niger, West Africa. To date, six of 28 concessions have been granted.

Location & History

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Bayswater has applied directly and indirectly for 28 uranium concessions in two blocks covering over 7,800 square kilometres of land in the Tim Mersoi Basin, a region with favourable geologic settings for the occurrence of major uranium deposits. All of the land holdings fall between 60 and 400 km from the world-class Arlit and Akouta uranium mines which together have produced over 100,000 tonnes of U308 to date. The concessions fall into three distinct packages around the Arlit-Akouta area. The Tikikitene and Eghizi concessions are side by side, lying from 60 to 130 km to the northwest, The Anwala concession lies 240 km to the southwest, and the Emi Lulu concession sits approximately 400 km northeast. The concessions are accessible by road using 4x4 vehicles.

Niger is ranked as the world's third largest producer of uranium behind Canada and Australia, and is ranked fourth in the world in terms of uranium resources. Uranium exports represent over 70% of the country's nation export proceeds.

Geology & Mineralization

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The Arlit and Akouta deposits provide excellent geologic models for uranium exploration in Niger. These deposits are of the sandstone roll-front model, hosted in continental to marine deltaic sandstones along the western margin of older basement rocks forming part of the Air Massif Mountains forming part of the West African Shield. They show close affinity to regional fault structures.

The Tikikitene and Eghizi concessions combined provide the Company with a land position comprising a complete cross section of northwest-southeast trending mine stratigraphy that is also extended north-south along regional fault structures and lineaments.

The Emi Lulu concession is underlain by basin margin sediments, similar to the stratigraphy of the Arlit-Akouta deposits, and plutonic basement rocks of the Air Massif. The concession is transected by fault structures favourable for uranium in the area, including strong NNW-SSE trending basin and range type faulting and areas of intersecting major north-easterly trending structures.

The Anwala property sits along the strike extension of fault structures, lineaments and other uranium prospects and deposits that extend along a NNE-SSW trending uranium belt, with the Arlit-Akouta deposits at the north end of the belt. Along the belt between the Anwala property and Arlit-Akouta deposits lie the Aborkun and Imouraren uranium deposits. Just twenty kilometers upstrike from the Anwala property the Tin Negoran uranium prospect is characterized by anomalous concentrations of uranium of up to 7.4% in young sediments and values of up to 0.146% U3O8 in older sediments. All of the known deposits and prospects in this uranium belt have associated airborne radiometric anomalies.

Exploration

To date, two of the concessions comprising approximately 1,000 square kilometres that were applied for directly by Bayswater have been granted. No work is planned on these concessions until all of the concessions are granted and civil unrest in the country is under control and it is safe to work in Niger.

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