92 Energy intersects highest radioactivity levels to date at Gemini uranium project

92 Energy ASX 92E GMZ uranium radioactivity GMZ Gemini Athabasca Basin Canada
92 Energy has sent drill samples for chemical analysis and is now planning a new drill program for June.

Uranium explorer 92 Energy (ASX: 92E) has hit the highest levels of radioactivity to date while drilling at its Gemini Mineralised Zone (GMZ) uranium discovery in Canada’s Athabasca Basin.

Today the company revealed the final four and best drilling results from its winter program at GMZ including a 22m intersection of continuous elevated radioactivity with a maximum of 15,780 counts per second (CPS).

A total of 19 holes for 5,378m were completed across 92 Energy’s 100% owned Gemini project, with 12 undertaken at the GMZ discovery. Measurements from a handheld scintillometer confirmed elevated radioactivity in 11 out of the 12 GMZ holes, with the next top three results including 22m of continuous elevated radioactivity with a maximum of 3,030 CPS, 25.5m with a top of 7,860 CPS and 12m with 5,760 CPS.

The elevated radioactivity at GMZ has now been defined over a length of 230m in the northwest-southeast direction and 80m in the northeast-southwest direction.

According to the company, the results indicate radioactivity is improving to the southwest of the GMZ. This geological understanding will be further tested in an upcoming drilling program set to begin in June.

“The final four drill holes have provided a better understanding of the geological makeup of the GMZ and resulted in the strongest intercepts to-date,” 92 Energy managing director Siobhan Lancaster said.

“We look forward to receipt of the assays and following-up these results during our summer 2022 drill program, commencing in June,” she added, referring to the northern hemisphere summer season.

Next steps

Drill core samples from the now completed winter program have been sent for chemical analysis with results expected within one to two months.

92 Energy plans to return to the Gemini project for further drilling from June 2022. It said it will release more details about this summer drilling program soon.

In addition to GMZ, the winter program included six reconnaissance drill holes at Camp West and the GMZ Extension. No radioactivity was interested at Camp West and only weakly elevated radioactivity was intersected at the GMZ Extension. However, the “extremely encouraging” intensity of alteration encountered in both have motivated the company to further assess these targets during the summer program.

92 Energy’s Gemini project is located 27km southeast of the McArthur River uranium mine, the largest high-grade uranium deposit in the world.

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