– tremendous potential detected
CANADIAN-based Argus Metals Corporation announced yesterday the commencement of a 2,500-metre drilling programme at its wholly-owned Kaituma Uranium and Gold Project, purchased by Argus Metals from StrataGold Corporation (a subsidiary of Victoria Gold Corp., [VIT]) and Newmont Overseas Exploration Limited. This drilling is being done by international company AK Drilling, contracted to execute a minimum of 2,500 metres of state-of-the-art reverse circulation drilling in a series of 150-metre-long drill holes over five fences, targeting uranium and gold anomalies.
These uranium and gold anomalies had previously been identified through airborne and ground-based exploration work conducted by StrataGold, BHP Billiton (BHP), and AREVA SA (previously Cogema), and had been confirmed by Argus Metals Corporation’s own ground-based exploration programmes in 2010.
Argus Metals has said that the Kaituma Uranium & Gold Project represents a geophysical & geochemical uranium target within an episyenite & leucogranite intrusion in the Guyana Shield Greenstone Belt; and that the high priority Kaituma uranium target has a strike of over 10 kilometres and a width of approximately one kilometer, punctuated by grades from trace up to 0.23% Uranium in saprolite trenches, and from trace up to 0.0948% Uranium in weathered outcrops.

Argus President, Michael Collins, stated: “The Kaituma Uranium & Gold Project is one of the few undrilled global uranium exploration targets with the potential size to have a significant impact on uranium markets. With exceptional infrastructure in place, Argus expects this drill(ing) programme to quickly and efficiently test this outstanding uranium target.”
The Kaituma geology model will become clearer with the execution of this drilling programme.
Historically, the Kaituma Project has been explored by various companies, including AREVA and BHP, with exploration work including airborne geophysics, ground-based geophysics, soil sampling and trenching.
The Kaituma East and West Prospecting Licences (PLs) cover over 10 kilometres strike length of radiometric anomalies, defined by a 1982 Cogema soil sampling and geophysical programme; a 1996 BHP airborne radiometric survey; and a StrataGold 2007 stream, soils and trenching programme.
Work on the Kaituma West PL (PL29/2011) has also identified three gold anomalies with high grades, and demonstrates an association with both hydrothermal alteration in greenstones on the margins of the intrusive, and also sheer related mineralization internal to the intrusive rock.
The Canadian-based ‘U308’ is exploring for uranium in Kurupung in the Roraima Basin. ‘U308’ has reportedly found its Kurupung Project emerging into a large uranium district.