Power Metal Resources plc said its completed technical review of historical data showed “significant uranium prospectivity” at its portfolio surrounding the Athabasca Basin in Saskatchewan, Canada.
DATA ROOMS
The company holds seven properties which cover a total 450.01km2 (45,001ha).
“We now have seven data rooms available which can be used for external third-party discussions, and also for internal exploration planning,” added chief executive Paul Johnson.
“This work has added considerable value to our uranium portfolio at a particularly compelling time with uranium demand and price rising contemporaneously.”
The news comes as the company published details of two properties – Clearwater and Thibault Lake – which lie within the Beaverlodge uranium district.
CLEARWATER
Clearwater hosts 19 Saskatchewan Mineral Deposit Index (SMDI) occurrences, of which 14 are uraniferous, and includes a former uranium trial mine.
Power Metal additionally noted four base metal and one precious metal SMDI occurrences (copper, lead, zinc and silver showings) on Clearwater.
The company also identified previously drilled uranium-rich mineralisation, elevated uranium anomalism within spring water occurrences and numerous radioactive outcrops with scintillometer readings of over 250 counts per second (CPS).
Power Metal added that government data indicated strongly anomalous uranium-in-lake sediment results.
THIBAULT LAKE
Thibault covers 4,401ha ( 44.01km2) and is centred on six SMDI uranium occurrences discovered during previous exploration campaigns.
Reports include samples of up to 6.6% U3O8 (5.6% U) from uranium-rich veins uncovered from historical trenches.