The Woods: exploring the new frontier for Athabasca uranium.
A dominant land position along the Grease River Shear Zone through a staged option to earn up to 80% of the Woods Projects. Applying proven geophysical techniques to identify priority drill targets for high-grade, basement-hosted uranium exploration.
Crustal-scale structure. Limited historical drilling.
The exploration model centres on the highly-prospective structural corridor known as the Grease River Shear Zone. This shear zone has seen fewer than 20 historical drill holes northeast of Fond-du-Lac, with only 3 of those holes located over the Woods Project.
Simple exploration strategy: fly high-resolution EM to define graphite conductors. Ground-truth the EM targets with a handheld spectrometer. Drill test.
A major structure with room to explore.
- The Grease River Shear Zone is a major crustal-scale structural zone up to 7 km wide.
- The Grease River Shear Zone remains comparatively underexplored, offering a substantial structural corridor for systematic targeting.
- Primarily targeting high-grade basement-hosted uranium associated with graphite conductors in valley covered areas.
- Background geology comprised of uraniferous granites and pegmatites confirming a localised source of uranium.
- Additional potential to find low-grade, high-tonnage Rössing-style uranium deposits.
Converting geophysics into drill targets.
Holistic integration and interpretation of heliborne VTEM and radiometric data with field geological mapping, ground spectrometer surveying and rock-chip sampling to delineate high-priority targets for further investigation.
A staged path to greater ownership.
Neu Horizon can earn up to an 80% interest through A$3 million of exploration expenditure plus agreed cash and share consideration.
| Milestone | Cash | Shares | Exploration expenditure | Status |
|---|---|---|---|---|
| Signing of agreement | A$50,000 | A$50,000 | n/a | Complete |
| By 31 December 2025 | n/a | A$200,000 | A$700,000 | Complete |
| By 31 December 2026 | n/a | A$500,000 | n/a | Complete |
| By 31 December 2027 | n/a | n/a | A$2,300,000 | In progress |
| Total (earns 80%) | A$50,000 | A$750,000 | A$3,000,000 | In progress |
Neu Horizon acts as operator during the option period, with a 10% management fee on expenditure. Below a 10% interest, Neu Horizon is entitled to a 2% net smelter return royalty (one half buyable back for A$5 million before commercial production).
Experienced partners in the Athabasca.
A favourable staged earn-in agreement was finalised with Fortune Bay Corp. Its CEO, Mr Dale Verran, was formerly VP Exploration at Denison Mines Corp., where he was involved with the discovery of over 70 Mlbs U3O8.