Terra Uranium Ltd (ASX:T92) has wrapped up the winter reverse circulation (RC) drilling stage of its ongoing maiden exploration program seeking major uranium deposits under cover at the 100%-owned Pasfield and Parker projects in Canada.
The company holds a 100% interest in 22 claims spanning 1,008 square kilometres forming the HawkRock Project, Parker Lake Project and Pasfield Lake Project in the Cable Bay Shear Zone (CBSZ) on the eastern side of the uranium-rich Athabasca Basin, north-eastern Saskatchewan, Canada.
The projects are roughly 80 kilometres to the west of multiple operating large uranium mills, mines and known deposits.
The CBSZ is a major reactivated structural zone with known uranium mineralisation. There has been limited exploration in the area, though, as the basin sediment cover is thicker than for the known deposits immediately to the east.
Winter drilling program
T92 drilled 29 RC holes at the two projects for 1,271 metres at an average depth of 41 metres – all completed holes drilled around 24 metres of sandstone.
The SRC Geoanalytical Laboratory has received all RC sandstone samples and is analysing the results now using its Sandstone Exploration Package ICP-MS1.
Helium samples have also been taken at six selected holes over discrete high conductivity ZTEM anomalies and despatched to the University of Ottawa for analysis.
Helium is a highly mobile uranium decay daughter product and exploration pathfinder element under cover.
Data from historical drilling at Pasfield is highly anomalous in helium and proximal to strong Pasfield Lake geophysical results.
Discovery International Geophysics is mobilising to site to complete ground EM step-wise moving-loop transient electromagnetic surveys over key uranium drill targets at the Parker and Pasfield areas.
Consolidating results ahead of more drilling
The company plans to process the RC results, along with ground survey and airborne geophysics data, ahead of deeper diamond drilling of the most prospective targets planned for the spring.
The RC rig has been demobilised and the diamond drill rig has been mobilised and is being brought in over the winter trails and ice roads.
“We are thrilled to announce that T92 has now completed its first winter drilling program on the 100%-owned Pasfield and Parker projects in the eastern Athabasca Basin, Canada,” CEO Andrew Vigar said.
“Strong geophysical signatures have been confirmed at Parker and Pasfield, while final geochemical results from the RC drilling are yet to be received and analysed.
“The diamond drill is being mobilised ready for drilling in the spring.
“The continued excellent results from this early work strengthen our conviction in the investment case for Terra Uranium as a leading mineral exploration and discovery company.”
Major milestone
Terra Uranium has already reached a major milestone with the granting of exploration permits for the next three years over all of the company’s 100%-owned Athabasca Basin projects.
In only 6.5 months since listing, T92 has now completed airborne geophysics, geochemistry, a highly successful trial of ANT passive seismic to map the basement, data analysis, permitting for ground operations and the winter phase of the RC drilling program.
The 2023 exploration program continues to de-risk current diamond drill targets and provide positive results for future target areas.