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CSE:MEC   OTC:MECPF   FRA:92T

Yellowstone East Project

Yellowstone East - Website.jpeg

Figure 1: Overview of Yellowstone East Property - Mustang Energy (1), (4)

Highlights

  • Ownership: 100% owned by Mustang Energy

  • Size: One claim totaling 3,340 hectares

  • Location:

    • Situated on the eastern edge of the Carswell Impact Structure, adjacent to significant uranium deposits

    • Approximately 14 km east of the historic Cluff Lake Mine which produced over 62 million pounds of uranium U3O8 at an average grade of 0.9%. (2)

    • Approximately 20 km northeast of the Shea Creek Deposit (jointly held by Orano Canada Inc. and UEX Corp.), with an NI 43-101 compliant indicated resource of 68.1 67.57 million pounds of U3O8 at an average grade of 1.49%. (3)

  • Geological Potential:

    • The Project lies within the Athabasca Basin, renowned for hosting the world class uranium deposits.

    • Historical data highlights multiple conductive anomalies and fault zones with coincident lithogeochemical anomalies potentially associated with uranium mineralization. (4)

  • Previous Work:

    • A 2007 exploration program conducted by MPH Consulting Limited (SMAD# 74K06-0088), on behalf of Uranium North Resources Corp., included a lithogeochemical survey and an airborne MEGATEM time-domain electromagnetic survey. This program identified two anomalous areas along the western portion of the Property: the East Rim Fault area and the Beaver Lake Area. These zones are spatially associated with interpreted pre- and/or syn-Carswell Structure event faults. (4)

Exploration Plan (Next Steps)

1. Data Refinement:

  • Reprocess/digitize historical MEGATEM, lithogeochemical sampling, and water geochemistry results to validate targets

2. Geophysical Surveys:

  • Complete MobileMTTM/ZTEM high-resolution EM survey over the entirety of the property to ascertain whether shallow MEGATEM conductors could extend into the basement

  • Image deep conductors possibly associated with unconformity or basement-hosted uranium mineralization

3. Drilling:​

  • Drill testing EM conductors identified in MobileMT(TM)/ZTEM high-resolution survey. 

References

(1) Saskatchewan GeoAtlas, Retrieved from  https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas

(2) Cluff Lake Mine Uranium Production – Orano: Retrieved from   https://www.orano.group/canada/en/news-resources/news/2023/may/cluff-lake-project-concludes-mining-life-cycle

(3) Shea Creek. Uranium Energy Corp. Retrieved from  https://www.uraniumenergy.com/projects/canada/shea-creek/

(4) Saskatchewan Mineral Assessment Database, SMAD# 74K06-0088_2007_MEGATEM_Lithogeochem, Retrieved from http://mineral-assessment.saskatchewan.ca/Pages/BasePages/Main.aspx 

Overview

The Yellowstone East Project covers 3,340 hectares, strategically positioned in the Western Athabasca Basin, a region renowned for high-grade uranium deposits. The property covers the eastern portion of the Carswell Impact Structure, a ~18 km meteorite crater whose unique geology has hosted significant uranium deposits like the Cluff Lake Mine. 

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Composite boulder sampling and geophysical datasets highlight significant anomalies spatially associated with interpreted fault zones, suggesting hydrothermal fluid pathways and the potential for uranium mineralization. (4) 

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Mustang Energy is committed to advancing exploration through a systematic, data-driven approach, ensuring sustainable development and maximizing resource potential.

Targets

  • Beaver Lake Area (4) (Priority 1):

    • Associated with radial faults and arcuate MEGATEM (4) conductors near the Carswell Impact Structure. 

    • MEGATEM (4) conductors are interpreted to be a result of shallow, clay-lined and altered faults which cut Athabasca Group rocks. Follow-up deep penetrating geophysics is needed to determine if these faults/conductors extend into the basement.

    • Adjacent to the East Rim Fault, an active geological structure post-Carswell Impact event.

    • 2007 composite boulder sampling program shows anomalous total clay, illite +/- kaolinite, dravite, and uranium. The identified anomalies are spatially associated with interpreted faults, suggesting these faults are pathways for hydrothermal fluids. (4)

    • Geophysical correlation with a GSC eU radiometric anomaly and fault-intersecting conductive zones.

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