Power Metal Resources plc’s uranium joint venture, Fermi Exploration, has identified a “significant intrusion-related’ target at the Tait Hill property just outside the Athabasca Basin in Saskatchewan, Canada.
PROMISING
Results from sampling by the JV with UCAM Ltd confirmed a “well defined” 1km by 500m target, the ‘Antler Zone’, initially identified from historical survey data.
Rock samples from the Antler Zone returned the property’s highest uranium values to date, including 1.68% uranium in a pegmatite, said Power Metal.
Tait Hill also has identified a further “promising” intrusive-style uranium target, the Northwestern area, with anomalous radon levels, high lead ratios and elevated uranium in soil samples.
The target lies 7km north of the Antler Zone.
Power Metal acquired Tait Hill in September 2021 and began systematic exploration in 2023.
Chief executive Sean Wade added that the company aimed to establish drill targets over the next few months, weather permitting.