92 Energy Limited (ASX: 92E | OTCQX: NTELF) has started preparations for a new drilling campaign at its wholly-owned Gemini uranium discovery in the Athabasca Basin.
The Gemini uranium discovery is a high-grade, basement-hosted uranium deposit which remains open in all directions, uranium mineralization is currently defined over 250m x 240m.
Managing director, Siobhan Lancaster, commented, “We have already established the presence of high-grade mineralization and we have outlined uranium over a significant area. The mineralization remains open along trend, and we have numerous other high priority targets to test.”
Two diamond drill rigs are now mobilizing to the Gemini project to begin the 4,000m programme.
One drill rig will be allocated to extending the high-grade and thick mineralized intercepts into open areas north and south of the main discovery.
To the south, drilling will focus along trend of GEM23-061, which cored 5.0m of 1.47% U3O8, including a 0.5m subinterval of 9.66% U3O8.
Drilling to the north aims to extend the thick intercepts in GEM22-035 and 037, which cored 54.5m and 39.5m of total composite uranium mineralization, respectively.
The rest of the programme will be allocated to testing high priority exploration areas along the Gemini uranium discovery trend. Approximately 280m north of the discovery area, the previous drilling programme intersected intense, pervasive hydrothermal alteration and elevated uranium mineralization up to 0.14% U3O8 over 0.5m in GEM23-053.
Additionally, a series of drill holes will continue to test for the continuation of uranium mineralization in this area, both across and along trend. Four drill holes are planned approximately 480m and 680m north of the discovery, which will test ground EM conductors with coincident apparent resistivity and magnetic lows.
Lancaster continued, “Our aim is to expand the high-grade mineralization of 0.5m of 9.66% U3O8 identified during the last drilling programme as well as follow up on the uranium that was intersected to the north of the main zone,”
“With a nuclear energy renaissance unfolding and a market which has a primary supply shortfall, it is the perfect time to continue to expand our uranium discovery.”
The company expect to commence drilling later this week, continuing until September.
To find out more, please visit www.92energy.com
To read more articles like this, please visit www.theassay.com/news/
