The initial program comprised a dedicated diamond coring rig clearing blocked drill holes and the re-logging of these historic holes using a down hole gamma probe to validate the mineralization (non JORC compliant) that was defined by exploration in the 1970’s.
The objective of the initial program at both Site 22 and Site 29 was to confirm the location and grade of the historic drilling results.
A program of RC drilling will commence within the month to obtain samples of uranium and molybdenum for geochemical analysis.
To date, a total of 43 of the original 707 percussion holes have been re-logged, which represents approximately 6% of the holes drilled by JCI who calculated the presence of approximately 4,800,000lbs eU3O8 grading >1,000ppm eU3O8.
Several spectacular grades were returned from the initial program, including 7.7ft @ 3,769ppm
eU3O8 from hole 06FN473, 4.4ft @ 3,210ppm eU3O8 from hole 06F101, 4.9ft @ 2,351ppm eU3O8
from hole 06F803 and 3.6ft @ 2,152ppm eU3O8 from hole 06F510.
Of the 43 holes that have been logged to date, 31 have returned uranium mineralization, 15 of these exceed a grade thickness product of 0.15%ft eU3O8 and four holes returned multiple mineralized intersections.
The company will also carry out a program of RC drilling designed to provide samples for uranium and molybdenum geochemical analysis.
