Southern Athabasca Basin area (Source: IntierraRMG)

Southern Athabasca Basin area (Source: IntierraRMG)

Patterson Lake area explorer, Aldrin Resources (ALN:TSXV) is halted this morning pending news. On May 13, Aldrin announced it had resumed drilling on their Triple M project (adjacent to Fission's Patterson Lake South discovery) after the spring breakup in Saskatchewan's boggy fields.  The timing would be about right for them to have results from initial drilling and hence the halt.

Aldrin is drilling the most intense conductor on their property which sits on the Forest Lake fault and runs parallel to, and roughly 5km from, the Patterson Lake fault.

This news, if positive, could have ramifications for the entire Saskatchewan uranium exploration sector which has lost more than 1/4 of its market cap (collectively) after a delayed breakup and lull in news flow.

NexGen Energy (NXE:TSXV), who made an early-stage discovery on their Rook I project earlier this year, will also resume drilling soon (waiting on permits) and should have results out soon after beginning drilling.

Once the news starts coming out of these early summer drill campaigns, you could see this outlier of the exploration sector (one that could actually catch a bid over the last 12-18 months) heat up again.

Others with upcoming drill campaigns in the Patterson Lake area include: The Western Athabasca Syndicate, Purepoint Uranium, Fission 3.0 and Azincourt Uranium.