The Wallee project contains approximately 20,765 ha in four claims 35 km northeast of Cameco’s Eagle Point Mine (Rabbit Lake Operation). The project is underlain by Wollaston Supergroup metasediments, including highly prospective graphitic pelitic gneisses, as well as Archean granitic gneisses. The project lies outside the currently mapped extent of the Athabasca Basin sandstone; however, several small outliers of sandstone have been found in the surrounding area which indicate the Basin extended over this area in the past. Multiple untested EM conductors are present on the property that coincide with magnetic and/or gravity lows, which are locally disrupted by faulting including multiple N-S trending faults related to the Tabbernor fault system and a couple of NE-trending faults.
Several geophysical surveys have been completed on the project and surrounding areas along with some prospecting and geochemical sampling, with the vast majority of the work being carried out in the 1960’s through to the 1980’s. However, no drilling has been completed on the property itself to date. Work in the surrounding area has revealed several U-Th-REE mineralized (up to 1.150% U3O8) basement showings in outcrop and boulders, suggesting the basement rocks on the property could be sources of basement-hosted unconformity-related uranium deposits.