NI 43-101 TECHNICAL REPORT
MORAN LAKE PROJECT
Central Mineral Belt, Newfoundland and Labrador, Canada
Consolidated Uranium Inc.
402 - 217 Queen Street West
Toronto, ON,
M5V 0R2
Terrane Geoscience Inc.
Suite 207 - 390 King St.
Fredericton, NB
E3B 1E3
Stefan Kruse, Ph.D., P.Geo.
Project Number - 21-0012-F
Effective Date: November 5, 2021
Signing Date: December 14, 2021
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1. | SUMMARY....................................................................................................................... | 6 |
1.1 | Issuer and Purpose...................................................................................................... | 6 |
1.2 | Author and Qualified Person Site Inspection ................................................................ | 6 |
1.3 | Property Location and Description ............................................................................... | 7 |
1.4 | Tenure Maintenance and Permitting ............................................................................ | 7 |
1.5 | Access ......................................................................................................................... | 7 |
1.6 | Environmental and Property-Related Uncertainties...................................................... | 8 |
1.7 | Regional Geology ........................................................................................................ | 8 |
1.8 | Mineralization............................................................................................................... | 9 |
1.9 | Historical Exploration .................................................................................................. | 10 |
1.10 | Recommendations ...................................................................................................... | 11 |
2.0 | Introduction .................................................................................................................. | 12 |
2.1 | Issuer and Purpose..................................................................................................... | 12 |
2.2 | Authors and Qualified Person Site Inspection ............................................................. | 12 |
2.3 | Sources of Information ................................................................................................ | 13 |
2.4 | Units of Measure......................................................................................................... | 14 |
3.0 Reliance of Other Experts............................................................................................ | 15 | |
4.0 Property Description and Location ............................................................................. | 16 | |
4.1 | Description and Location............................................................................................. | 16 |
4.2 | Agreements and Royalties .......................................................................................... | 16 |
4.3 | Tenure Maintenance ................................................................................................... | 20 |
4.4 | Permitting ................................................................................................................... | 21 |
4.5 | Environmental Liabilities and Significant Factors ........................................................ | 22 |
4.6 | Labrador Inuit Lands ................................................................................................... | 23 |
4.7 | Innu Settlement Area .................................................................................................. | 24 |
4.8 | Other Stakeholders ..................................................................................................... | 24 |
5.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography ............ | 27 | |
5.1 | Site Topography, Elevation and Vegetation ................................................................ | 27 |
5.2 | Climate ....................................................................................................................... | 28 |
5.3 | Local Resources and Infrastructure ............................................................................ | 28 |
6.0 | History........................................................................................................................... | 30 |
6.1 | Previous Ownership.................................................................................................... | 30 |
6.2 | Mineral Deposits/Occurrences .................................................................................... | 34 |
6.3 | Geochemical Surveys ................................................................................................. | 36 |
6.4 | Trenching and Rock Channel Sample Geochemical Surveys ..................................... | 38 |
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21-0012-F - Moran Lake 43-101 |
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6.5 | Geophysical Surveys .................................................................................................. | 43 | |
6.6 | Diamond Drilling ......................................................................................................... | 47 | |
6.7 | Historical Resources at the Moran Lake Property ....................................................... | 55 | |
6.8 | Historical Mineral Processing and Metallurgical Test Work ......................................... | 59 | |
7.0 Geological Setting and Mineralization ........................................................................ | 60 | ||
7.1 | Central Mineral Belt: Geological Framework ............................................................... | 60 | |
7.2 | Property Geology ........................................................................................................ | 63 | |
7.2.1 | Bedrock Geology ................................................................................................. | 63 | |
7.2.2 | Structural Geology ............................................................................................... | 67 | |
7.2.3 | Surficial Geology.................................................................................................. | 69 | |
7.3 | Mineralization.............................................................................................................. | 71 | |
7.3.1 | Moran Lake C-Zone ............................................................................................. | 71 | |
7.4 | Lower C-Zone ............................................................................................................. | 75 | |
7.5 | Area 1 ......................................................................................................................... | 76 | |
7.5.1 | Armstrong ............................................................................................................ | 76 | |
7.5.2 | Other Mineral Occurrences .................................................................................. | 77 | |
8.0 | Deposit Types............................................................................................................... | 79 | |
8.1 | Magmatic-related Mineralization ................................................................................. | 79 | |
8.2 | Metamorphic-Metasomatic-related Mineralization ...................................................... | 80 | |
8.3 | Sediment-hosted Mineralization .................................................................................. | 81 | |
9.0 | Exploration ................................................................................................................... | 82 | |
10.0 | Drilling........................................................................................................................... | 83 | |
11.0 Sample Preparation, Analyses and Security .............................................................. | 84 | ||
11.1 | Pre-2000 Drilling Analyses, QA/QC and Security ........................................................ | 84 | |
11.2 | Post-2005 Drilling Analyses, QA/QC and Security ...................................................... | 85 | |
11.3 | Adequacy of Sample Collection, Preparation, Security and Analytical Procedures...... | 87 | |
12.0 | Data Verification ........................................................................................................... | 88 | |
12.1 | Data Verification Procedures ...................................................................................... | 88 | |
12.2 | Qualified Person Site Inspection ................................................................................. | 88 | |
12.3 | Validation Limitations .................................................................................................. | 90 | |
12.4 | Adequacy of the Data ................................................................................................. | 90 | |
13.0 Mineral Processing and Metallurgical Testing ........................................................... | 91 | ||
14.0 | Mineral Resource Estimates........................................................................................ | 92 | |
15.0 | Mineral Reserve Estimates .......................................................................................... | 93 | |
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21-0012-F - Moran Lake 43-101
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16.0 | Mining Methods ............................................................................................................ | 94 |
17.0 | Recovery Methods........................................................................................................ | 95 |
18.0 | Project Infrastructure ................................................................................................... | 96 |
19.0 | Market Studies and Contracts ..................................................................................... | 97 |
20.0 | Environmental Studies, Permitting and Social or Community Impact ..................... | 98 |
21.0 | Capital and Operating Costs ....................................................................................... | 99 |
22.0 | Economic Analysis..................................................................................................... | 100 |
23.0 | Adjacent Properties.................................................................................................... | 101 |
23.1 | Developed Prospects................................................................................................ | 101 |
23.1.1 | Western CMB Deposits...................................................................................... | 101 |
23.1.2 | Eastern CMB Deposits....................................................................................... | 102 |
23.2 | Other prospects ........................................................................................................ | 102 |
24.0 | Other Relevant Data and Information........................................................................ | 104 |
25.0 | Interpretation and Conclusions................................................................................. | 105 |
26.0 | Recommendations ..................................................................................................... | 107 |
27.0 | References.................................................................................................................. | 109 |
28.0 | Certificate of Author................................................................................................... | 114 |
LIST OF TABLES | ||
Table 4.1 - Mineral License Summary ...................................................................................... | 16 | |
Table 4.2 - Option Agreement Payment Schedule.................................................................... | 17 | |
Table 6.1 - Historical summary of submitted mineral assessment exploration work for the Moran | ||
Lake property.. ..........................................................................................................................32 | ||
Table 6.2 - Mineral occurrences in the Moran Lake property .................................................... | 34 | |
Table 6.3 | - Select results from channel samples for the Moran Lake property.......................... | 39 |
Table 6.4 | - Summary of historical drilling on the Moran Lake Property. .................................... | 53 |
Table 6.5 | - Selected drill intersections from the Moran Lake property ...................................... | 54 |
Table 6.6 - Summary of mineral resource modelling and estimation methods used for historical | ||
estimates for the Moran Lake property. ..................................................................................... | 57 | |
Table 6.7 | - Historical mineral resource estimates for the Moran Lake Property. ....................... | 58 |
Table 26.1 - Recommendations for future exploration work at the Moran Lake Property. ....... | 108 |
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21-0012-F - Moran Lake 43-101
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LIST OF FIGURES | |
Figure 4.1 - Moran Lake Project location. ................................................................................. | 18 |
Figure 4.2 - Moran Lake Project mineral tenure........................................................................ | 19 |
Figure 4.3 - Moran Lake Project licences relative to Labrador Inuit Lands................................ | 25 |
Figure 5.1 - Physiography of the Moran Lake Project Area....................................................... | 29 |
Figure 6.1 - Uranium mineral occurrences on and proximal to the Moran Lake Project ............ | 35 |
Figure 6.2 - Bedrock and float grab samples on and proximal to the Moran Lake Project......... | 37 |
Figure 6.3 - Lake and stream sediment samples on and proximal to the Moran Lake Project... | 40 |
Figure 6.4 - Till samples on and proximal to the Moran Lake Project licenses .......................... | 41 |
Figure 6.5 - Trench and drill hole locations on and proximal to the Moran Lake Project ........... | 42 |
Figure 6.6 - Regional radiometric survey (Total count U ratio) image ....................................... | 44 |
Figure 6.7 - Regional magnetic survey (1st vertical derivative) image ....................................... | 45 |
Figure 6.8 - Regional airborne gravity survey (Bouger correction) image. ................................ | 46 |
Figure 6.9 - Drill collar locations, northern C-Zone ................................................................... | 49 |
Figure 6.10 - Drill collar locations, Southern C-Zone, Poz Pond and EM target areas .............. | 50 |
Figure 6.11 - Drill collar locations, Area 1 and Trout Pond target areas .................................... | 51 |
Figure 6.12 - Armstrong Lake drill collar locations .................................................................... | 52 |
Figure 7.1 - Simplified bedrock geology of the Central Mineral Belt and Moran Lake Project.. .61 | |
Figure 7.2 - Property-scale geology of the Moran Lake Project. ............................................... | 65 |
Figure 7.3 - Tectono-stratigraphic summary of the Moran Lake Project area............................ | 66 |
Figure 7.4 - Surficial Geology of the Moran Lake Project Area. ................................................ | 70 |
Figure 7.5 - Cross section through the Upper and Lower C-Zone deposits............................... | 73 |
Figure 23.1 - Adjacent properties and mineral occurrences in the Western CMB ................... | 103 |
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21-0012-F - Moran Lake 43-101
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Consolidated Uranium Inc. published this content on 11 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2022 19:45:07 UTC.