Power Metal Resources plc has increased its stake in Soaring Bay by 71% to 79.07km2 following a review of the uranium property in northern Saskatchewan, Canada.
LICENCES
The company’s Canadian uranium portfolio includes seven 100% owned interests now covering an area of 450.01km2 (45,001 hectares).
Soaring Bay lies is approximately 100km south of the Athabasca Basin.
FINDINGS
Following the review of historical information, Power Metal identified further prospectivity outside of the claim boundary and as a result, staked an extra 32.77km2 (3,277-ha).
The company also identified anomalous Radon-222 results along a prominent 700m-long structure length, extending into the newly staked ground.
Radon-222 (222Rn) is a naturally occurring radioactive gas.
The company added that the increased area also includes two highly anomalous uranium-in-lake results, underlining the properties’ general prospectivity.
Government data records four uranium occurrences on the property with results returning 0.11 – 0.8% uranium.
ANOMALOUS AREA
Chief executive Paul Johnson said that work on the company’s uranium interests had accelerated.
“The 12km structural feature identified, with anomalous soil gas Radon is a great find.
“This included 700m of anomalous readings some of which fell outside of the property footprint.
“Fortunately, we were able to secure the additional ground, which remained un-staked, to cover this highly anomalous area in full.”