The Gryphon zone drill hole WR-560, which is located 3km northwest of the Phoenix deposit on the Wheeler River property, intersected uranium averaging 17.3% over 4.2m.
The company noted that the drill hole WR-560 targeted the up-dip extension (40m away) of high grade mineralization intersected in WR-556 during March.
WR-560 intersected four discrete mineralized intervals of which one is high grade.
As per the geology study in the drill core, it is likely that WR-560 intersected low grade mineralization (the 676.2-680.3m interval) at the up-dip extension of the high grade zone in WR-556.
WR-560’s high grade mineralization is interpreted to be a new lens in the footwall, about 50m northwest of the high grade intersection in WR-556.
Gryphon zone mineralization is around 200m beneath the sub-Athabasca unconformity and is open in both strike directions and at depth.
The first follow-up drill hole is a steeply plunging drill hole and the mineralization is expected to dip moderately, the true thickness is anticipated to be approximately 75% of the intersection length.
