Falcon Property

15 claims totaling 55,699 hectares with multiple untested electromagnetic conductors along the Wollaston trend at the eastern margin of the Athabasca basin in an emerging uranium district seeing a surge in exploration activity

Falcon Property Overview

Located approximately 35 km east of the former Key Lake Mine and the active Key Lake uranium mill which processes ore from the McCarthur River Mine.

Falcon Location
Power line at the eastern edge of the Falcon property

15 claims totaling 55,699 hectares

  • 100% ownership of four claims totaling 12,791 hectares
  • Option to earn an 80% interest in 11 claims totaling 42,908 hectares over three years from Skyharbour Resources Ltd. for $5.3M in total consideration
  • Option to acquire the remaining 20% interest from Skyharbour after earn-in for $5M cash and $5M in stock

SKYHARBOUR OPTION TERM SUMMARY TO EARN AN 80% INTEREST OVER 3 YEARS

 Initial
Oct. 31, 2023 ($1,000)		Dec. 31, 2023 ($1,000)Nov. 30, 2024 ($1,000)2nd Ann.
Oct. 31, 2025 ($1,000)		3rd Ann.
Oct. 31, 2026 ($1,000)		Totals
Cash500100150225525
Shares1500200*350*525*         1,225
Work02502501,3001,7503,550
Totals2002505501,8002,5005,300  

* Cash or shares at NSU option

Mine And Mill Locations
Mine and mill locations and select uranium occurrences from Saskatchewan government database

Falcon Property Region Exploration Activity

  • The Falcon Property region has seen a surge in exploration activity since 2021
  • Falcon is located approximately 40 km southwest of two new high-profile discoveries made in 2021, Ackio and GMZ by Baselode Energy and 92 Energy respectively, and just west of the Fraser Lakes Zone B uranium Inferred Resource
  • On Dec. 7, 2023, Atha Energy announced the proposed acquisition of GMZ’s owner, 92 Energy (ASX:92E)
Falcon Property Region Exploration Activity Map
Claim information and select uranium occurrence locations from Saskatchewan government database on Jan. 8, 2024. This slide contains information about properties adjacent to the Falcon property which North Shore does not have the right to explore and investors are cautioned that mineralization on adjacent properties is not necessarily indicative of mineralization on the Falcon property.

Falcon Property: Available High-Resolution Airborne Geophysical Data

Over 90% of the property is covered by recent high-resolution airborne geophysical data.

Data from the electromagnetic (EM) surveys flown in 2006, 2007 and 2013 is publicly available through the Saskatchewan assessment files.

In 2022, Xcalibur Multiphysics completed airborne gravity-magnetic-radiometric surveys on behalf of both North Shore Uranium and Skyharbour Resources, previous operators did not have access to this type of data.

Though EM conductors have been selected as potential uranium targets from data from all three EM surveys, the only drilling to date has been on targets selected from the 2006 JNR survey.

Map 3 Geophysical Data

Mapped EM Conductors and Historical Drilling

  • In 2008, JNR Resources drilled 28 holes on EM conductors crossing three of the current Skyharbour Option Claims, near the EWA Showing, uranium values up to 0.235% U3O8 were reported
  • The Fraser Lakes Zone B deposit was discovered east of the current property in 2008
    • All drilling in this area since 2008 has been to evaluate the B zone deposit
  • Many kilometres of EM conductor length have not been fully evaluated in the field or tested by drilling
    • Beginning with its fully funded planned Q1 2024 drill program, where the focus will be the southeastern end of the Property, North Shore is prioritizing multiple zones along untested EM conductors for evaluation in the field and drilling
2024 02 01 Falcon Property Ongoing Work Map 4
Drill holes and select uranium occurrences from Saskatchewan database, approximate EM conductor locations from Saskatchewan database and North Shore interpretation

Falcon Target Selection and Q1 2024 Drill Program

  • North Shore is fully funded for its planned Q1 2024 drill program set to commence in early March
  • North Shore, with support from Condor North Consulting and TerraLogic Exploration is working to select the top three targets and pinpoint drill collar locations for the winter drill program
  • Electromagnetic data from the 2006 and 2007 airborne surveys together with the gravity-radiometric-magnetic data acquired in 2022 is being evaluated to identify favorable structures for uranium mineralization
  • This map with a total magnetic field background shows EM conductors selected from individual survey lines
Falcon Target Selection And Q1 2024 Drill Program

Technical Reports