92 Energy Limited (ASX: 92E) has intersected significant uranium mineralization in the now completed winter drill programme at its Gemini Uranium Discovery in Canada’s world-class Athabasca Basin.
A total of 161 drillholes were completed, totalling 4,295m of a planned 4,000m, with 1,419m located at the Gemini Uranium Discovery and 2,876m testing regional exploration areas.
GEM23-057, 059A, 061 and 063 were drilled from the same collar location, approximately 65m southeast of the Gemini Uranium Discovery in an area previously untested by drilling. A significant zone of high-grade uranium mineralization was encountered in drillhole GEM23- 061, which returned 1.3% eU3O8 over 3.5m including a sub-interval of 6.0% eU3O8 over 0.5m.
In addition to GEM23-061, GEM23-063, a 25m step-out to the northeast intersected a broad zone of mineralization which returned 0.3% over 14.4m eU3O8 including a sub-interval of 0.6% eU3O8 over 2.2m.
“It is clear that we have an important discovery and a huge opportunity at Gemini.
“The uranium mineralization in drillholes GEM23-061 and 063 demonstrate the excellent potential for Gemini to host a deposit with genuine scale and high grades,” Managing Director, Siobhan Lancaster, said.
“GEM23-061 and 063 extend the Gemini Uranium Discovery by another 65m along strike, taking the footprint to at least 250m x 240m. The Gemini Uranium Discovery remains open to the north.
“We are particularly encouraged by drilling 280m north of the Gemini mineralised zone, where we have intersected radioactivity and strong alteration, reminiscent of the discovery drillhole at Gemini.
“It is also important to remember that Gemini sits in a prospective 2.8km-long trend which hosts several promising targets that are viewed by the company to be structural analogues to the discovery area.
“Given the high-grade mineralization in GEM23-061 and 063, the open nature of the discovery, and the encouraging drilling to the north, we have immediately started planning a follow-up drilling programme
“This will be aimed at continuing to grow the Gemini discovery and testing highly promising targets nearby to ensure we maximize our ability to unlock the full value of this rapidly growing asset in a timely manner.”
Completion of Geophysical Survey
Between January and February 2023, Discovery Geophysics International and Convolutions Geosciences Inc. completed a ground electromagnetic survey over the prospective “western limb” exploration area, west of the Gemini Uranium Discovery. The electromagnetic survey identified a northeast oriented conductor trend 1.9km in length, interpreted by the company to represent a major graphitic fault zone.
The graphitic fault zone is crosscut by several north-northwest trending magnetic lows, believed to represent additional fault zones, and the intersection of these structures represent high priority areas for follow up drilling.
To date, no drill testing has ever been carried out along the western conductive trend.
Next Steps
Results of the winter 2023 drill program and geophysical survey are currently being reviewed by the company and planning is underway for the next phase of drilling at the Gemini project.
Uranium assay results from winter drillholes will be announced as they become available, expected within six to eight weeks.
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