The property is comprised of 62 mineral claims (1190 acres) and a State Lease (640 A) located in Emery County, Utah, 20 miles southwest of Green River and less than 1 mile south of Interstate 70.
The adjacent Sinbad Uranium Mine was shut down in 1982. The ore was mined via a decline to a depth of approximately 220 feet below the surface. The total reported resource remaining in five zones is in the range of 300,000 pounds of U3O8, including intercepts of 7 feet grading 0.267% eU3O8.
Historic drilling shows that the uranium mineralization continues along trend onto Target's claims, where the zone remains open for expansion.
Geology
The uranium mineralization is in a sandstone hosted unconformity, geologically similar to that of the prolific uranium deposits in the Athabasca Basin in Saskatchewan.
Two features suggest there is exploration potential for previously unrecognized unconformity-type uranium deposits:
Additional unconformities with possible potential occur at drillable depths beneath the Chinle-Moenkopi unconformity.
The San Rafael Swell stratigraphy is cut by a series of NW-trending faults of modest displacement that are part of the underlying basement architecture of the Paradox Basin; these faults may contain feeder systems for some of the components for uranium mineralization.
Exploration
Target has completed geological mapping and a radon gas survey over the property. This work deliniated several drill targets and a 15 hole, 3,300 foot drill program was completed in the fall of 2007. The drill program tested the projected extension of the Chinle Formation mineralized channels north-westward from the historic Sinbad Uranium Mine. The program also tested several radon anomalies identified in a recent radon gas soil survey.
High grade uranium was intercepted in multiple horizons as shown in the following drill highlights:
0.10% eU3O8 over 1.4 feet (194.5 feet -- 195.9 feet) and
1.07% eU3O8 over 1.6 feet (203.6 feet -- 205.2 feet) in hole SB-07-13 and
0.11% eU3O8 over 1.3 feet (174.3 feet to 175.6 feet),
0.12% eU3O8 over 2.6 feet (177.9 feet to 180.5 feet) and
0.28% eU3O8 over 4.9 feet (181.5 feet -- 186.4 feet) in hole SB-07-14
