(Download map in PDF format here)

Regarded as a highly prospective analogue of its uranium-rich neighbour in Saskatchewan, Nunavut’s Thelon Basin exhibits similarities in size, age, geology and mineralization to the prolific Athabasca Basin.

Exploration in the 1970s and 1980s led to the discovery of Kiggavik, Andrew Lake and End Grid deposits by Urangesellschaft. Total resources for the combined deposits are estimated at 148 million pounds U3O8.  Present owner AREVA is assessing the viability of the project. Future plans may include a state-of-the-art mill and mining operations located 80 km west of Baker Lake.

Titan was among the first to anticipate the “renaissance” of uranium exploration in the Thelon Basin. Titan acquired 164,759 acres in seven properties with potential high-grade uranium mineralization, and today, is one of the principal landholders in the region with approximately 244,000 acres.

Titan entered into an option agreement with Mega Uranium Ltd. in April 2007 whereby Mega has the option to earn a 51% interest in Titan’s properties by contributing Cdn $5 million over two years. Titan remains the operator of the project.

Exploration Program 2008

Titan’s 2008 exploration program in the Thelon Basin will commence in July 2008. Various exploration activities are scheduled and will include prospecting, mapping, boulder sampling and diamond drilling. Diamond drilling targets will include follow-up from encouraging 2006 and 2007 drill results.