Power Metal Resources plc’s joint venture has defined a new target area at the Perch River uranium project within the Athabasca Basin in Saskatchewan.
SURVEYS
The company and partner UCAM Ltd completed helium, hydrogen, radon and soil geochemistry surveys to delineate the Rapids target.
The new area consists of “multiple overlapping geochemical and radon anomalies” within a geological and geophysical setting “highly prospective” for unconformity-hosted uranium mineralisation.
Power Metal said that ground gas sampling in select areas indicated “local enrichment” in hydrogen close to the new target.
In the north of the radon sampling grid, a further target named the ‘northern linear radon anomaly’ was also delineated.
An airborne electromagnetic and radiometric geophysical survey over the 54.55 km2 Perch River is due to begin in the next few weeks.
The JV also begins wider exploration activities today with a magnetic and electromagnetic survey on Badger Lake followed by Perch River, East Hawkrock and West Hawkrock.
Other work will include airborne geophysical surveying, an innovative ambient noise tomography (ANT) ground geophysics survey ahead of drilling in February-March 2025.
Assays are pending from a radon, soil and biogeochemical sampling programme on Badger Lake completed in late October.
Chief executive Sean Wade added that the JV had a “substantial budget” committed to exploration, which it believes is the second largest currently deployed in the Athabasca area.