92 Energy honing in on new Athabasca uranium targets
92 Energy (ASX: 92E) has unveiled promising results from new exploration studies at its Clover uranium project in Canada’s world class Athabasca Basin.
A recent electromagnetic (EM) ground survey conducted by Discovery Geophysics International has identified three significant new EM conductors.
The 11.0 line-km ground EM survey at Clover targeted an area interpreted by the company to be at an intersection between a northwest trending regional magnetic low, and the northeast gravitating Cigar Lake – Close Lake uranium trend, one of the world’s richest uranium plays.
Major projects located along the trend include Orano Canada Inc.’s Close Lake uranium deposit and Tucker Lake uranium zone as well as Cameco Corporations Cigar Lake uranium mine.
Other northeast EM conductor trends traversing a regional northwest magnetic low south of Clover have been identified as being related to Cameco’s McArthur River uranium mine and Harrigan Uranium Zone, UEC’s Paul Bay, Ken Pen and Orora uranium deposits and 92 Energy’s own GMZ uranium discovery.
Uncovering key structural setting
Following its assessment of the EM survey data, the company is confident the structural setting of these EM conductors is highly prospective to host uranium mineralisation.
Managing director, Siobhan Lancaster, said the company is now progressing drill planning to test the potential of the new targets.
“These are highly promising targets as shown by the strength of the EM responses and their prime location on the intersection of two key structural trends in the Athabasca Basin.”
“These trends are associated with the world-class McArthur River and Cigar Lake uranium mines. Strong EM responses at their intersection point are terrific exploration targets.”
Clover sits 65 km to the northwest of 92 Energy’s Gemini uranium discovery, where drilling recently returned high-grade uranium assays of up to 9.7% triuranium octoxide (U3O8).
Athabasca profile growing
92 Energy is proving itself to be a force in the Athabasca Basin, having recently announced the new uranium discovery at the Gemini project.
Drill core geochemistry and assay results from a 2023 winter drill program at Gemini confirmed the potential of the discovery.
In all, a 161 drillhole program of 4,385m was completed during the winter 2023 season.
Significantly, it expanded the known mineralisation at the project, with drilling 65m south of the Gemini uranium discovery intersecting a significant zone of high-grade uranium mineralisation.
A 25m step-out, down-dip hole also intersected a broad zone of mineralisation.
The company is currently preparing to return to Gemini in the Canadian summer 2023 for follow up drilling.