Terra Uranium unveils co-ordinated exploration strategy for Athabasca Basin
Terra Uranium (ASX: T92) has formulated a co-ordinated exploration strategy to advance its project suite in Canada’s highly prospective Athabasca Basin to drill-ready status.
The strategy will focus on nine high-quality assets covering 1,817 square kilometres of the Tier 1 district, where maiden diamond drilling has confirmed the presence of uranium.
The company has contracted field work for the new strategy to Axiom Exploration Services, which Terra first appointed in November to scout new infrastructure and claim access for the upcoming drilling program.
Drill-ready targets
Terra signed an option agreement with ATHA Energy in August to acquire up to 60% of its Pasfield Lake development near Saskatchewan.
In return, ATHA agreed to grant Terra an option to acquire up to 70% of its Spire and Horizon projects in the same region.
Terra has 18 drill-ready targets across its HawkRock, Pasfield and Parker projects that will be farmed out for deeper drilling to larger companies including ATHA.
Geophysical work will commence this year at HawkRock and Pasfield East, while the base camp at Pasfield Lake will be maintained, ready for drilling by third-party partners.
ATHA has the option to begin drilling at Pasfield Lake in 2025 in concert with exploration of its Ridge project, situated directly to the south along the underexplored Cable Bay Shear Zone, and access to the Pasfield Lake base camp.
Spire and Horizon plans
Terra completed maiden exploration at the Spire and Horizon projects in late 2024 under the ATHA option agreement.
The company’s evaluation of airborne geophysics from that campaign will allow it to plan a program to test shallower uranium targets during 2025.
Previous boulder train sampling at Horizon included results of up to 6,034 parts per million uranium (0.71% uranium oxide) and 30,000ppm uranium (3.53% uranium oxide), with an up-ice direction on the project area.
Strategy roll-out
Terra executive chair Andrew Vigar said the company was keen to roll out the new strategy.
“We will focus on testing the uranium targets developed over the last three years and we look to expand our partnering approach with groups such as ATHA Energy for drilling,” he said.
“Our asset portfolio now totals an impressive nine projects and one pending acquisition in the majority of the Athabasca Basin and we look forward to taking Terra to the next level with a discovery in 2025.”