The new G-sand trend was recognized through detailed mapping of areas marginal to and down dip of the Palangana Dome rim, where roll front deposits of uranium are known to occur.
A total of 19 holes have been drilled and logged along this new trend, with five of the holes exhibiting grade-thickness (GT) values of 0.3 or higher. The company considers these results very encouraging for a newly discovered area.
Hole 2845 had an intercept of 17.5ft of 0.541% U3O8, resulting in a GT value of 9.467. Hole 2832 had an intercept of 16ft of 0.085% U3O8, resulting in a GT value of 1.360. GT is the length of the intercept measured in feet multiplied by the average percentage of U3O8 present. Company engineers estimate that zones with GT greater than 0.3 will be shown to be producible.
The company initiated a 215-hole drilling program in early February on six exploration zones, and reported the results from the first 87 holes on March 15.
An additional 82 holes have been drilled within the known exploration trends, primarily the Jemison Fence and Palangana East areas. Of these 82 holes, 14 had a grade-thickness product (GT) greater than 1.0 with the Prompt Fission Neutron (PFN) tool, and 33 of the 82 holes, or approximately 40%, had a GT greater than 0.3 with the PFN tool.
Of the entire drilling program to date, nearly half of the 188 holes have intercepts with GT greater than 0.3. As noted above, company engineers estimate that zones with GT greater than 0.3 will be shown to be producible. A properly calibrated PFN tool provides a reading that directly approximates the uranium content. The Palangana East trend was earlier known as the CC Brine trend.
The company said that exploration drilling will continue through June to further define the new G-sand trend and to assess if the trend, or parts of the trend, will be producible through in-situ recovery methods. Detailed mapping of the entire Palangana Dome structure will continue, and new trends will be tested through drilling as they are identified.
