Power Metal Resources plc reported “significant” uranium prospectivity and refinement of drill targets from radon gas sampling at two of its properties at Athabasca basin, Saskatchewan.
LARGE TARGET
During the 2023 field season at the Tait Hill’s Mullis Lake target, the company found “very significant uranium” anomalies of up to 164ppm in soil.
The deposits are characterised by “large footprint, high tonnage, but relatively low-grade mineralisation” and, being “spatially and temporally related to fertile intrusions”, are described as ‘intrusive-type’ uranium deposits.
The figure is “strongly coincident” with radon anomalies found in October as well as historical radiometric anomalies.
The company said that the results obtained from this soil and radon gas sampling pointed to a “large target for future exploration”.
Power Metal has also defined three sub-targets at the broader Mullis Lake target.
Sub-target A lies to the north of the main mapped intrusion, sub-target B is to the northeast and sub-target C is southeast of the main mapped intrusion.
Soil geochemistry results at the Soaring Bay property highlighted areas of “strong anomalism”, which highlighted a “significant >3km long northwest-southeast trending mineralised shear zone”.
TANGIBLE
Chief executive Sean Wade added that the 2023 Athabasca uranium exploration work continued to “deliver exceptional results”.
“Added to the results announced in September at Perch River and Badger Lake, so far, four of the nine Athabasca properties we have explored in the 2023 programme have delivered major tangible results.”
Power Metal has also completed high-resolution airborne electromagnetic geophysics surveys on the Kernaghan and Durrant Lake properties with results pending.
The company expects Metal expects to announce in the near term news of planned admission of its spin-off Uranium Energy Exploration, previously named Teathers Financial.