CanAm Uranium Corp. (CAU.OB) is working a property, known as the Halo Prospect, in the Bancroft area of Ontario, Canada that has a rich mineral history.
The Halo Property, located in Cardiff Township, is comprised of 12 claim units totaling 4,793 acres, which were staked over 6 uranium deposits.
In 1955, 16 trenches and 27 diamond drill holes (5,064 feet total) were completed on the Pyroxenite Zone, and identified uranium mineralization occurring over a length of 800 feet. Drilling in this zone has cut sections grading 0.15 to 0.20% (3 – 4 lbs/ton) U308. In the South Zone, stripping and 23 diamond drill holes (9,491 feet in total) were completed in 1955. Drill intersections averaged from 0.05% – 0.75% (1 –15 lbs/ton) U308 over 1.5 to 5.4 feet.
In the Bald Mountain Zone, the best intersection, from 7 diamond drill holes done in 1955, was 0.25% (5 lbs/ton) U308 over 8.4 feet. Between 1953 and 1956 on the Northwest and Lake Zones, extensive diamond drilling (over 40,000 feet), and over 2,500 feet of lateral underground development from 2 adits and a 75-foot shaft was completed. The lowest estimate of historic reserves in 1957 was 472,000 tons grading 0.112% (2.24 lbs/ton) U308.
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