The Serpent River Property in Ontario is a stunning piece of real estate.
It’s located on the north shore of Lake Huron and offers breathtaking views for anyone who visits it.
Whether you’re looking for an investment, or just want to enjoy the beauty that this property has to offer, it can’t be beaten!
With its prime location on the lakefront, as well as its abundance of wildlife, there are plenty of activities available here year-round.
I have personally been able to take advantage of what this amazing property has to offer and was pleasantly surprised by everything it had in store.
The Serpent River property is located in the Sault Ste. Marie Mining Division, Elliot Lake area in Northern Ontario.
Rio Algom Ltd., outlined a resource on the property that they called the Pecors East Zone. This zone contains an indicated resource of 20 million tons grading 0.037% (0.74 lbs./t) U308 or 14,800,000 lbs. U308.
Montoro’s drilling at Serpent River revealed uranium values consistent with historic results and also intersected mineralized aplite dykes and sills below the conglomerate beds as well as highly altered mineralized breccia along the unconformity between the Archean basement rocks and overlying Proterozoic sediments.
Rare earth elements were also found accompanying the uranium mineralization.
I’m excited to learn more about this unique property!
Property Acquisition Agreement
The Company signed a Property Acquisition Agreement to buy 100% of the ten mining claims located in Serpent River, Ontario. This included 115 units with about 1840 hectares in total. The mineralization was typical for past producing mines around Elliot Lake, and it had uranium quartz pebble conglomerates from the Mississagi Formation.
Rio Algom Ltd estimated that Pecors East Zone on the property had 20 million tons of ore grading 0.037%. That is equal to 14.8 million lbs of U308! Montoro’s drillings showed similar results as before, plus they found rare earth elements too.
It went beyond just minerals though; the agreement also gave access to geological surveys done by Rio Algom, Total Field Magnetics, Derivative of TMI maps, Technical Reports and Magnetic Anomaly maps. Plus there were lots of other resources available around this area which could be useful for exploration purposes.
To sum up, signing a Property Acquisition Agreement allowed company to obtain 100% interest in ten mining claims situated at Serpent River Ontario along with all kinds of valuable data associated with them like magnetic anomalies and more!
The Serpent River property has been acquired and now it’s time to discuss the uranium mineralization found on the claims.
The past producing mines in the Elliot Lake camp had typical uraniferous quartz pebble conglomerates of the Mississagi Formation.
After completing a drill program, Rio Algom estimated that there was 20 million tons of uranium grading 0.37%.
It is generally considered reliable information from this area.
Montoro also found rare earth values accompanying the uranium too.
Pele Mountain Resources is advancing its Eco Ridge project with good recoverability results for REE’s which could be expected from Serpent River as well.
All in all, these findings are encouraging and should result in more exploration being done down the line.
Rare Earth Values
The rare earth values at Serpent River could be very valuable. Montoro found that uranium was accompanied by significant levels of rare earths in the quartz pebble conglomerates. Neighboring Pele Mountain Resources conducted testing which showed good recoverability of REEs, suggesting similar results from Serpent River’s mineralization. This means there could be lots of potential for this property to provide value when it comes to rare earth elements.
In 2009, Ontario Geological Survey field work revealed a strong geophysical anomaly on the claims which may suggest contact style nickel-copper-PGE mineralization like what is seen at Sudbury. Sediment samples taken from Pecors Lake also showed high levels of nickel and chromium adding weight to this new analysis.
To investigate further, Montoro enlisted a geophysical specialist who created 3D representation of the anomaly showing its size and estimated depth. It looks like there might be lots more hidden beneath the surface here!
The Serpent River property is located in the Elliot Lake area of Northern Ontario, and it has some interesting minerals.
This includes uranium mineralization typical of what was found at the past producing mines in Elliot Lake. Rio Algom mined more than 100 million pounds of U308 from these deposits, which shows its reliability.
It’s not only uranium that can be found on this property though; rare earth elements are also present! Pele Mountain Resources recently announced positive results for their Eco Ridge project, indicating good recoverability of REE’s.
It stands to reason that similar results could come out of the Serpent River mineralization too. This makes the Serpent River property a great opportunity for exploration and development – there may be lots of potential here!