ABE Resources’ two main uranium projects are located in the Otish Mountains region of central Quebec, Canada and are located 350km north-east of the town of Chibougamau. All season and major forestry roads come within 150km of the projects which are serviced by float planes at this time. The Otish basin is a 160 km long by 50 km wide Proterozoïc (1.7-2.0 Billion year old) sedimentary basin. It is one of a number of early to mid-Proterozoïc basins in Canada and around the world that host, or has the potential to host, uranium deposits. Of the several known Proterozoïc sedimentary basins in Canada, U3O8 production from the Huronian Basin in Ontario totalled more than 350M lbs from over twenty large tonnage, low grade (0.1%) deposits between 1957 and 1996. Huronian uranium deposits are paleoplacers in quartz pebble conglomerates near the base of the Basin sequence, just above the unconformity. The Athabasca Basin in Saskatchewan has cumulative resources to date exceeding 1.4B lbs of U3O8, including over 750M lbs from the Cigar Lake and McArthur River deposits alone. Athabasca deposits are unconformity deposits where fault controlled, remobilized uranium mineralization is deposited at the interface between the basement rocks and the overlying quartzitic sediments.
Rocks of the Otish Basin unconformably overly older Archean Superior Province metasediments, gneisses and intrusives and are truncated to the south by the younger Grenville orogenic front. The Otish Supergroup is composed of the kilometer-thick Indicator Group which fines upwards from polymictic conglomerates to massive sandstones and is overlain by the Peribonka Group which consists of low energy sandstones, carbonates and siltstones. The Otish Supergroup rocks are generally subhorizontal and are cut by a series of olivine gabbro dykes and sills which are more prevalent in the eastern part of the Basin. Strong N010E and N060E basement-rooted fault patterns have been developed and reactivated in the Otish Basin. Known mineralization is spatially related to these structures. Historic exploration in the Basin searched for both Huronian and Athabasca uranium deposit models, but results point to an Otish specific model whereby hydrothermal mineralization ascends reactivated faults and is deposited either in favourable coarse sedimentary units lower in the stratigraphy (Matoush model) or else in favourable structurally prepared fracture zones in sediments and intrusives further up in the stratigraphy (“L” model). In both cases, mineralization is located between 400 metres and 1.5 km above the unconformity. Two known deposits in the Otish together host almost 35M lbs U3O8. These resources have mostly been defined since 2006, an indication of the early potential of the Basin to host very significant uranium resources and move towards becoming a new producing uranium mining camp.