- 92 Energy (92E) intersects its best interval of uranium mineralisation to date at the GMZ uranium discovery within its Gemini Project in Canada
- Six drill holes for over 2000 metres have been completed as part of a planned summer program of an initial 6000 metres
- The holes intersected the thickest zones of total composite uranium mineralisation to date, totalling 68. 7 metres and 48.7 metres, at greater than 0.05 per cent equivalent uranium
- While chemical assays for all summer drilling are still pending, drilling at the GMZ discovery will continue towards the southwest
- 92 Energy shares are up 12.2 per cent to trade at 50.5 cents at 11:35 am AEST
92 Energy (92E) has intersected its best interval of uranium mineralisation to date at the GMZ uranium discovery within its Gemini project in Canada.
So far, six drill holes for 2038 metres have been completed out of a planned summer program of an initial 6000 metres.
The company has now received equivalent uranium grades for all completed drill holes, based on calibrated downhole triple gamma probe results.
92 Energy reported a downhole probe result of 41.8 metres of 0.5 per cent equivalent uranium, including 6.4 metres averaging two per cent equivalent uranium.
Results showed 92 Energy hit its thickest zones of total composite uranium mineralisation to date, totalling 68.7 metres and 48.7 metres at greater than 0.05 per cent equivalent uranium.
92 Energy’s Managing Director, Siobhan Lancaster, said the results further demonstrate GMZ is a significant, near-surface uranium discovery in the Athabasca Basin.
“As we suspected, mineralisation is becoming stronger and thicker in the up-dip direction towards the southwest,” Mr Lancaster said.
“Importantly, we’re now seeing high-grade mineralisation within the broader mineralised zone.”
The company is still awaiting chemical assays for all summer drilling, with drill core samples due to be sent to the Saskatchewan Research Council Geoanalytical Laboratory. Results are expected in up to six weeks.
Drilling at the GMZ will continue towards the southwest where uranium mineralisation appears to be nearing the top of bedrock.
92 Energy shares were up 12.2 per cent to trade at 50.5 cents at 11:35 am AEST.