Power Metal Resources plc has discovered an “extremely strong” helium anomaly in the centre of its Perch River uranium project within the Athabasca basin, Saskatchewan.
EXPECTATIONS
The company recently acquired the two-year Perch River licences, covering 39.41km2 and located less than 10km from the northern basin edge.
Chief executive officer Sean Wade said that the indications could be “hugely significant”.
“Whilst it is always important to manage expectations, it is fair to say that the discovery of such a strong anomaly has far exceeded our expectations and sets the scene for what we hope to be a strong schedule of newsflow from our uranium portfolio overall.”
HELIUM OR URANIUM?
Results from hyperspectral data analysis using Sentinel-2 satellite data on mineral reflectance “identified several helium anomalies” and the extremely strong helium response in the centre of the project.
Power Metal said that the very strong helium response could indicate “significant buried uranium mineralisation or leakage of helium from a buried helium reservoir at depth.”
Crews at the site have repositioned to complete a high-resolution soil sampling grid over the target area.
The company also plans to engage a helium gas specialist to determine how to develop the target.
Power Metal’s exploration campaign for the June to September season continues on the wider uranium licences.