Terra Uranium set to launch drilling campaigns at Spire and Horizon following positive survey data
Terra Uranium (ASX: T92) is preparing to commence drilling campaigns at its Canadian projects after receiving positive early indications from a recent aerial survey.
The company’s interpretation of airborne gravity and magnetics data from an Xcite survey flown in Q4 2024 has highlighted a number of targets on the Spire property.
Terra signed strategic agreements with ATHA Energy in 2024 under which T92 may potentially acquire up to 70% of the Spire and Horizon projects, which comprise 12 mineral claims located within the East Rim exploration district of the Athabasca Basin.
High EM conductivity
The recent airborne survey highlighted locations of high electromagnetic (EM) conductivity and magnetics, showing potential folding or offset in the conductive fault zone.
Notably, a stacked gravity low indicated a change in density and potential alteration within this area.
Horizon has identified drill targets that show similar gravity low anomalies along structural corridors.
Base metals potential
Terra may also further investigate the area’s base metals potential after the survey identified magnetic high anomalies coincident with the dense gravity high anomalies.
The area, which has historic copper and zinc showings, has never been drill tested for base metals.
The company has designed a drill program of 2 kilometres across Spire and Horizon, which will meet its 2025 spending commitments under the ATHA option agreement while allowing both companies to fully assess their uranium and base metals potential.
HawkRock drill program
Terra is also confirming drill targets for the HawkRock project and is finalising plans for a 2,000m drill program in 2025.
The company owns 100% of the project, where historical work has identified highly anomalous surface sandstone geochemical uranium results.
The project features a unique 60km-long airborne radiometric anomaly, with previous exploration identifying a surface outcrop sample of 9.53 parts per million uranium.
Terra believes it is in an excellent position to take advantage of continued strength in the uranium market, especially in the wake of President Trump’s recent executive order to expand the country’s nuclear reactor capacity.