Power Metal Resources plc has extended its uranium portfolio to within the Athabasca Basin ahead of beginning its largest exploration campaign in Saskatchewan.
PERCH RIVER
The two-year Perch River licences, covering 39.41km2, lie less than 10km from the northern Athabasca basin edge and are covered by Athabasca sandstone to an estimated depth of 50 to 200m.
A major fault zone, the ‘Font du Lac’, crosses the project in a north-south orientation and ‘splays’ (breaks and rejoins) in the centre of the project.
The company said that previous work from 2011 to 2021, highlighted a cluster of anomalous uranium-in soil geochemical results (up to 33 ppm U) in the central part of the project, coincident with multiple known structural features.
2023 EXPLORATION
Power Metal’s preparations for its June to September exploration campaign focus on many of its previous acquisitions around Athabasca.
Projects include Tait Hill, Badger Lake, Durrant Lake, Kernaghan, Soaring Bay, E-12, Reitenbach, Cook Lake and Clearwater.
E-12 and Reitenbach are both due to be sold to Teathers Financial plc which once listed will be renamed Uranium Energy Exploration plc.
The company will complete ground-based programmes and aerial surveys, using drones and a helicopter, to define drill targets.
Chief executive officer Sean Wade expects the campaign’s results in the second and early third quarter, with a “well-defined picture” by Q4 2023.
“The recent addition of the Perch River project was a strategic move, increasing the company’s overall footprint in and around the Athabasca Basin, and enhancing what we consider to be a globally significant package of uranium licences.
“I am also pleased to report that the listing of Uranium Energy Exploration will now be expedited in order to meet investor demand for pure-play exposure to uranium exploration in this region.”
One Reply to “Power Metal extends uranium assets into Athabasca”
Comments are closed.