Makena Resources Inc. Intersects Radioactive Spike on First Hole on the Patterson Uranium 2016 Drill Program
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2016) - Makena Resources Inc. (TSXV: MKN) (FSE: A1KB6R) (OTCBB: CANSF) (the "Company" or "Makena") wishes to announce that according to Dr. Karl Schimann, "the first drill hole of the 2016 program, PAT16-002, intersected the basement at 159.7m. The basement is intensely clay altered, distinctly more so than PAT15-001. Probing showed a 1000cps radioactive spike at 163.2m, but most of the altered basement core down to 163.7m was lost. PAT16-002 is 500m northeast of PAT15-001 along trend within the same large gravity anomaly. Based on this positive result, the next hole will be drilled to intersect the basement about 90m away to the Northwest."
Makena anticipates this next phase of drilling to consist of a minimum of 3-5 holes. This prospect is located in the same area as Fissions' Triple R deposit, the Pure Point discovery and NexGen Energy, who recently discovered a new high-grade zone of mineralization northeast of their Arrow deposit.
Makena has also recently acquired 4,060 hectares prospective for diamonds in the Athabasca region of Saskatchewan in the direct vicinity of the De Beers' diamond option from CanAlaska Uranium Ltd.
Seth Kay, director of Makena states, "We are pleased at the indications encountered in the first hole. These encouraging results have prompted us to keep the drill program at the current area and drill here instead of moving to a new location. It is early, but the initial results are promising. This hole intersected values that were approximately 10 times the level we achieved in the first drill program on this property last year."
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Makena has an option agreement with CanAlaska on the Patterson Prospect and looks forward to utilizing their uranium expertise on this drill program.
Dr. Karl Schimann, PhD, PGeo, is the qualified technical person responsible for this news release.
Contact Information
Tel: 1.604.685.5150
Fax: 1(604) 689-1733
"Seth Kay"
Director
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