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  | | | Fri Jan 26, 2007
President Jim Pettit Comments on Mann Lake Project Results
Publisher: Don Myers: Corporate Communications
Author: James Pettit: President
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| | It's been a long time coming but the results from the first round of drilling on our Mann Lake property are finally in. Many investors may view the recent Triex Minerals news release as discouraging but that is a view management does not share.
The Athabasca Basin is a very complex environment for uranium exploration and to expect a major intersection on the first round of drilling is simply unrealistic. The Mann Lake property was selected for its prospective geologic setting and favourable historical data. The property is in the most prospective corridor in the Athabasca Basin, bar none, with the McArthur River uranium mine 25 km to the northeast and Cameco's new Millennium uranium deposit only 15 km to the southwest. The Mann Lake property is also located along a regional feature that is spatially associated with the Millennium deposit (B1 conductor).
With all this in mind, exploration programs in the Basin take time and money and the processes involved are methodical. Results of the recent drilling from the program operator, Triex Minerals, on the Mann Lake property are very encouraging.
The 1st pass drill program has confirmed interpretations of a structural corridor trending across the Mann Lake property and affecting conductive zones in the basement rocks. The alteration system identified during this drilling puts this property in the ballpark of major league uranium deposits.
The significance of the initial drill results cannot be understated. The Athabasca formation has undergone the right ground preparation and seen the right fluids.
The objective now is to locate the specific areas within the broad alteration zone where uranium could have accumulated to economic grades. Follow-up drilling is planned for the summer of 2007, and will vector towards actual uranium mineralization based on the alteration intersected to date. In addition, prospective conductive trends identified elsewhere on the property during ground geophysical surveys will also be tested.
We are not the only ones interested in the potential of the Mann Lake area. Cameco is working immediately to our east and COGEMA immediately to our west. Good company to be keeping to be sure, and a stamp of approval that the region has got the right geology, structure and geochemistry to host a major uranium deposit.
Jim Pettit
President
Consolidated Abaddon Resources Inc. |
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| | You can view the Previous Update from the Field item: Thu Feb 8, 2007, Listen to Corporate Presentation Feb. 8th by President Jim Pettit
You can view the Next Update from the Field item: Thu Jan 25, 2007, FOLLOW-UP DRILLING IS PLANNED FOLLOWING POSITIVE RESULTS FROM PHASE I PROGRAM AT MANN LAKE, ATHABASCA BASIN
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