Power Metal Resources plc said it was working to refine exploration targets at four of its properties in its uranium portfolio surrounding the Athabasca Basin, Saskatchewan, Canada.
PHASE I
The company will eventually progress the highest priority targets to a drill-ready stage.
The Phase I work programme focuses on the Clearwater, Tait Hill and Thibault Lake properties to provide more extensive and in-depth results.
Power Metal is prioritising initial follow-up work on the Thibault Lake property where 2021 mapping and sampling returned high grade uranium sample assays of up to 38,600 ppm or 3.86% uranium oxide.
The company’s exploration team will use a handheld gamma-ray field spectrometer for real time radiometric analysis and mapping.
Laboratory assays will include testing for uranium, rare earth elements (REEs), transition metals and precious-base metals.
PHASE II
Power Metal is preparing a Phase II programme scheduled for later in August for the Soaring Bay property.
The work will be similar to Phase I exploration but with the addition of radon surveying.
PROSPECTIVITY
Chief executive Paul Johnson said that the Athabasca uranium portfolio was a priority exploration project for the company.
“We have seen considerable interest in the Athabasca area, which we believe is inspired by an extremely positive forward dynamic in the uranium sector.
“The value of the ground held through our uranium properties is, in our view, increasing considerably and this value will be further enhanced through the current exploration work designed to underpin the uranium prospectivity.”