Apr 29, 2009
Endeavor Explorations, Inc., an exploration stage company, engages in the acquisition and exploration of mineral resources in Canada. It owns eight mineral claims located in the Uranium City area of Northern Saskatchewan, known as the Martin Lake Properties. The Martin Lake claims cover approximately 1,500 hectares.
Endeavor Exploration Inc.
114 West Magnolia Street #400-102
Bellingham, WA USA, 98225
Telephone: 206.338.2649
Market Data
Recent Price: $0.27
Market Cap: 8.4 Million
Out Shares: 31,040,000
Exchange: OTC BB
Stock Chart
Overview
Endeavor Explorations Inc has obtained a very strategic parcel of land bordering on the boundaries of Uranium City. This land holding is the site of seven former producing uranium mines, the most well-known are the Rix Smitty Mine, the Cayzor Athabasca Mine and the Rix Leonardo.
According to the Geology and Mineral and Petroleum Resources of Saskatchewan, a total of 700 tons of Uranium was produced by these mines. In 1960, due to low prices and the fact that the main market (uranium for nuclear weapons) had collapsed, these mines were abruptly closed leaving uranium ore in the shafts. Four other areas produced uranium from surface workings or shallow adits. This favorable situation is being taken advantage of for the benefit of the shareholders of Endeavor Explorations Inc.
Athabasca Basin
In Canada, the Athabasca Basin that straddles the Alberta-Saskatchewan border is considered one of the most favorable places in the world for exploring and mining uranium. The Athabasca Basin, occupying an area of about 100,000 sq km in northern Saskatchewan, accounts for approximately 30% of global primary uranium production, a figure which is expected to increase significantly by the end of the decade.
The first major uranium discovery in the Athabasca Basin was at Rabbit Lake in 1968. The Rabbit Lake Mine operated for 25 years and produced 120 million lbs of uranium by open-pit mining of several ore lenses. In 1975, the richest open-pit deposit in the world was discovered at Key Lake. Over its 15-year life the Key Lake deposits produced more than 190 million lbs of uranium. Since 1968, 18 deposits totaling over 1.4 billion pounds of uranium have been discovered in the region.
The most unique aspect related to the Athabasca finds is the high ore grade. Uranium is economically mined at concentrations as low as 0.03% with the average grade of mined uranium at .15%. The average ore grade of the 18 identified deposits in this region is greater than 3%. The two largest deposits (Cigar Lake and McArthur River) have average ore grades of between 17-18% reaching as high as 80% in some pockets.
-Exploration Model-
There are a variety of uranium deposit types throughout the world. In Canada all of the present production comes from unconformity-type uranium deposits. These deposits formed as a result of extensive hydrothermal systems reacting at or near the unconformity between the mid-Proterozoic Athabasca sandstone and the underlying Precambrian basement. Deep seated structures that were re-activated periodically are interpreted to have provided the necessary conduits for these hydrothermal fluids.
Unconformity-type uranium deposits are typically lensoid or cigar-shaped pods of massive to disseminated pitchblende with limited areal extent. They form at or near the unconformity surface and most often are associated with graphitic units. Very often basement type uranium deposits occurring as veins and replacement zones in the basement rocks are located in close proximity to these unconformity-type deposits. There may also be perched uranium deposits within the sandstone several 10's of metres above the unconformity surface.
A strong characteristic of unconformity-type uranium deposits are the presence of extensive alteration halos. These halos may extend upward for several 100 metres through the Athabasca sandstone. Because of their size these alteration zones provide good exploration targets for drilling programs.
Uranium City Properties
On January 18, 2008 Endeavor Explorations entered into a property purchase agreement to acquire the mineral rights on eight mineral claims in the Uranium City area of Northern Saskatchewan. The claims cover a combined area of 1504 hectares (3716 acres). These claims have been explored for uranium in the past and have seven former producing uraniums mine located on the claims.
Uranium City has an excellent infra structure of roads, hydro power, fuel supplies and lodging, as well as, an airstrip suitable for landing commercial aircraft.
Why Uranium?
• High demand as an energy source
• Significant Price increase
• Production shortfalls
• Diminished supply
• Growing cost of alternative fuels used to produce electricity
• More than 140 new reactors to be built over the next 10 years
• Uranium is more than 10,000 times the energy output than oil (megajoule/kg)
Management
Walter Stunder - CEO, President & Chairman
Walter Stunder, President, CEO and acting Chairman of the company is responsible for all financial, mining and geological affairs of the company. Through his privately held mineral consulting company, Mr. Stunder has consulted on mineral properties for over 30 years and has consulted for some of the world's largest mining companies including Placer Dome, Rio Tinto.
Belkis Jimenez Rivero - Secretary & Treasurer
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