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CSE:MEC   OTC:MECPF   FRA:92T

Yellowstone Project

Yellowstone - Website.jpg

Figure 1: Overview of Yellowstone Property - Mustang Energy (1), (4), (7), (8)

Highlights

  • Ownership: 100% owned by Mustang Energy

  • Size: 21,820 hectares across 7 contiguous claims.

  • Location:

    • Approximately 16 km west 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 northwest of the Shea Creek Deposit (jointly held by Orano Canada Inc. and UEX Corp.), with an NI 43-101 compliant indicated resource of 67.57 million pounds of U3O8 at an average grade of 1.49%. (3)

    • Adjacent to Fission Uranium’s West Cluff Project and surrounding the Carswell Impact Structure.

  • Geological Potential:

    • Historical data highlights multiple conductive anomalies and fault zones possibly associated with uranium mineralization. (4), (5)

  • Previous Work:

    • Extensive geophysical datasets, including ZTEM (2011) (4), VTEM (2010) (6), and MEGATEM (2007) (7), reveal high-priority exploration targets, such as prospective NE-SW fault zones that are analogous to the structural setting of the Cluff Lake Deposit and numerous conductive corridors.

Targets

1. Sylvia Lake Area (Priority 1):

  • Located outside the Carswell Structure, this area has minimal structural complexity, making it ideal for traditional EM methods.

  • Identified as Priority 1 Zone for follow-up exploration by Can Alaska in 2011 ZTEM Report (SMAD# 74K05-0147). (4)

  • Conductive NE-SW regional fault structure associated with the Banana Lake Uranium Zone (SMDI 2729) approximately 16 km NE (Figure 2). (5)

  • Diabase dyke complex and a magnetic low cross-cut by the Harrison Fault structure which offers a similar structural setting to the Shea Creek deposit ~20 km SE (Figure 3).

Yellowstone Sylvia Lake Target 2.jpeg

Figure 2: Sylvia Lake Target 1 with ZTEM underlay (1), (4)

Exploration Plan (Next Steps)

1. Data Refinement:

  • Reprocess historical ZTEM, VTEM, MEGATEM, GEOTEM, and ground EM datasets to refine anomalies and validate targets.

2. Geophysical Surveys:

  • Complete MobileMTTM high-resolution EM survey in the northern project area that was previously missed by 2010-2011 VTEM and ZTEM surveys targeting deep conductors identified in ZTEM data. 

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

3. Drilling:​

  • Initiate maiden drill program of high-priority targets in the Sylvia Lake region and NE project area focusing on key conductors and fault intersections.

1. Carswell West (Priority 1):

  • The inner ring of the Carswell Structure is crosscut by NE-SW faults associated with nearby mineralization at Cluff Lake and Shea Creek.

  • ZTEM data highlights shallow conductive anomalies near the central uplift and deeper anomalies warranting ground-based EM follow-up. (4)

  • Prospective zones include areas adjacent to NE-SW faults and mapped basement faults (Figure 4).

  • Radiometric anomaly with a similar signature to Cluff Lake Mine (Figure 4).

Carswell Target.jpeg

Figure 4: Yellowstone project overview map with radiometrics underlay

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# 74K05-0147, 2011 ZTEM, Retrieved from http://mineral-assessment.saskatchewan.ca/Pages/BasePages/Main.aspx

(5) Saskatchewan Mineral Deposits Index. (n.d.). Banana Lake Uranium Zone or Drill Holes BAN-7 and -8). Retrieved from https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2729

(6) Saskatchewan Mineral Assessment Database, SMAD# 74K05-0145_2010 CanAlaska VTEM, Retrieved from http://mineral-assessment.saskatchewan.ca/Pages/BasePages/Main.aspx

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

(8) Saskatchewan Mineral Assessment Database, SMAD# 74K05-0140, Drill hole SYL-1, Sylia Lake Project 1998 Activities and Results, Retrieved from http://mineral-assessment.saskatchewan.ca/Pages/BasePages/Main.aspx

1. Priority 2 and 3 Zones:

  • Areas with deeper basement (>700m) or multiple overlying conductive sedimentary units, such as Douglas and Wolverine Point formations, which may screen basement conductors, are lower priority for exploration.

Yellowstone Shea Creek Target.jpeg

Figure 3: Sylvia Lake Target 2 with total magnetic intensity underlay (1)

Overview

The 100% owned Yellowstone Project is situated approximately 16 kilometres from the past producing Cluff Lake Mine (over 62 million pounds of uranium produced - Orano) (2) in the Western Athabasca Basin. The project consists of seven adjoining claims totaling 21,820 hectares.

​

The property surrounds the exterior of the Carswell Impact Structure and is adjacent to Fission Uranium’s West Cluff Project. The Carswell Impact Structure is thought to be related to a meteorite impact measuring ~18 km in diameter, which exposed basement rock that underlies the Athabasca Basin sandstone formations and hosts high grade uranium mineralization including the Cluff Lake Uranium Mine.

​

The Yellowstone Project is transected by multiple conductors which are yet untested. One historic drill hole (SYL-1, SMAD# 74K05-0140) (8) encountered alteration but missed the intended conductive target. An exploration permit application has been submitted. 

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