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92 Energy moves into thicker uranium mineralisation at Athabasca Basin project

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By Robin Bromby - 
92 Energy ASX 92E GMZ uranium discovery Gemini Athabasca Basin Canada drilling

92 Energy’s GMZ uranium discovery is 27km southeast of the McArthur River uranium mine.

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A gamma probe at 92 Energy’s (ASX: 92E) Gemini Mineralised Zone (GMZ) uranium target in Canada has confirmed drilling has intersected thicker zones of mineralisation.

Last month the company reported that it had logged readings of up to 26,100 counts per second (cps), indicating high-grade mineralisation, and that the hole represented the thickest and highest interval of elevated radioactivity intersected at GMZ to date.

Now 92 Energy has completed a calibrated gamma ray probe which returned 41.8m at 0.5% uranium oxide, including 6.4m at 2% uranium oxide.

The company is exploring in the Athabasca Basin, Saskatchewan, and owns 100% of its 21 mineral claims that make up its five projects — Gemini, Tower, Clover, Powerline Creek and Cypress River.

Mineralisation becoming stronger and thicker

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

Latest drilling at the project (holes 027 and 029) has intersected the thickest zones to date of composite uranium mineralisation.

Hole 027 returned 68.7m of composite mineralisation, including 34.4m at 0.2% uranium oxide, while 029 went through 48.7m including 9m at 0.3% and 35.9m at 0.1%.

92 Energy managing director Siobhan Lancaster says these results demonstrate that the GMZ is a significant new near-surface uranium discovery.

“As we suspected, mineralisation is becoming stronger and thicker in the up-dip direction towards the southwest.”

“Importantly, we’re now seeing high-grade mineralisation within the broader mineralised zone,” she added.

Drilling continues toward southwest of deposit

At Hole 029, uranium mineralisation begins at 80m vertically below surface and is up-dip of Hole 025. 

The company says drilling at GMZ will continue toward the southwest where uranium mineralisation appears to be nearing the top of bedrock and is increasing in thickness. 

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

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