92 Energy hits zone of elevated radioactivity at Gemini uranium project

92 Energy ASX 92E elevated radioactivity Gemini uranium project Athabasca Basin Saskatchewan Canada
Assays from the elevated radioactive interval at Gemini are anticipated in four weeks.

Aspiring uranium producer 92 Energy (ASX: 92E) has hit a zone of elevated radioactivity during a maiden drilling program at its Gemini project in Canada’s Saskatchewan province.

Using a RS-125 handheld spectrometer, 92 Energy identified a 5.3m zone in drill hole GEM-004 with radioactivity readings exceeding 500 counts per second (cps).

The average radioactive reading in the 5.3m interval was 760cps, including a 0.7m subinterval with a reading averaging 1,500cps.

This zone was intersected about 190m below surface and is associated with a strong and broad zone of clay, hematite and quartz alteration along with common fault breccias and other structures.

92 Energy noted GEM-004 was following up on a conductor identified in a versatile time-domain electromagnetic (VTEM) survey. The anomaly was also up-ice from radioactive bog samples, anomalous lake sediment and radioactive boulders.

The hole was drilled on the project’s southern edge and was the first hole in this area and the fourth completed at the project.

Advancing Gemini

92 Energy anticipates assays from the hole will be available within four weeks and will enable the company to determine the extent of uranium mineralisation hit.

However, the positive spectrometer reading has been enough to prompt 92 Energy to peg up an additional 122 square kilometres of land contiguous to the Gemini project area in the highly prospective Athabasca Basin.

While assays are pending from GEM-004, 92 Energy has paused the drilling program to enable all data to be collected and analysed.

The company noted it would also use the brief pause in drilling to shore up its radiometric safety protocols prior to further testing of this zone.

Additionally, up to 11 other target areas within the project remain to be tested with a total of 2,200m of diamond drilling planned.

At Gemini, 92 Energy is exploring for unconformity-related uranium similar to that found at the Cameco’s McArthur River mine 27km away.

92 Energy is looking for the same style mineralisation across four other projects in the basin: Tower, Clover, Powerline Creek and Cypress River.

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