92 Energy intersects highest level of elevated radioactivity so far at Athabasca Basin project

92 Energy ASX 92E intersects highest-grade uranium Athabasca Basin elevated radioactivity
92 Energy has intercepted a maximum radioactivity of 26,100cps at the GMZ uranium discovery within Gemini.

Uranium explorer 92 Energy (ASX: 92E) has intersected the strongest radioactivity to date in the second hole of its current drilling program at the Gemini Mineralised Zone discovery in the Athabasca Basin.

GMZ is part of the wider Gemini project and is located 27km southeast of the giant McArthur River uranium mine.

Hole 025 at Gemini returned radioactive readings of up to 26,100 counts per second (cps).

This second hole of the current program cored a 47m-wide zone of continuous radioactivity, including a 2.35m interval of composite radio activity around 10,000cps with the average over the 47m being 2,366cps.

This hole also represents the thickest and highest interval of elevated radioactivity intersected at GMZ to date. The hole is still a work in progress and has reached a depth of 254m.

Previous record intercept

To give this some context, the company reports that the previous best drill holes returned radioactivity with the highest readings of 7,860cps and 15,780cps.

The 2022 Gemini program began on 10 June and involves 6,000m of drilling.

This follows several high-grade intercepts during the winter drill program.

Last month, 92 Energy managing director Siobhan Lancaster said with the tenor and thickness of mineralisation improving to the west and southwest, the company was looking forward to its aggressive follow-up drill program.

“To intersect high-grade uranium mineralisation at this very early stage in the GMZ discovery is tremendous and adds to our confidence that the GMZ has the potential to be globally significant discovery,” she said at the time.

Aim to replicate other big Athabasca Basin discoveries

92 Energy is targeting high-grade unconformity associated uranium in the Athabasca Basin, Saskatchewan.

On the fourth hole of its inaugural exploration drilling program, 92 Energy made the GMZ discovery last September.

The company has previously noted that its exploration strategy is similar to that which led to the discovery of Cameco’s world-class Key Lake uranium operations 60km away.

92 Energy is hoping to uncover a discovery similar to other notable uranium deposits in the region including NextGen Energy’s Arrow and Fission Uranium’s Triple R.

92 Energy is exploring in the Athabasca Basin, Saskatchewan, where the company owns 100% interest in its 21 mineral claims that make up its five projects: Gemini, Tower, Clover, Powerline Creek and Cypress River.

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