Terra Uranium Ltd (ASX:T92) has identified geochemical halos anomalous for uranium in a maiden exploration program focused on the discovery of major uranium deposits under cover at the 100% owned Pasfield and Parker projects in Canada's Athabasca Basin.
Upon completion of the winter phase, the company has mobilised a drill rig for the upcoming diamond drill program, which will kick off in the spring.
At Parker Lake, Terra has completed geochemical analyses of reverse circulation (RC) holes showing anomalies of a combination of uranium, pathfinder element and clay results that are above local and regional backgrounds for the upper Athabasca Sandstones.
Looking ahead, these RC results, along with ground-based surveys, will be integrated with the advanced interpretation of the now completed airborne geophysics to generate the best target for deeper diamond drilling in the spring.
Recent exploration success
Terra Uranium executive chairman Andrew Vigar said: “T92 continues to build on recent exploration targeting success towards a maiden diamond drilling program in the spring.
“Strong geochemical and geophysical signatures have been confirmed at Parker with Pasfield final results to follow.
“The diamond drill is being mobilized to be 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 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 the seven months since listing, the company has completed airborne geophysics, geochemical analysis, ground geophysics, data analysis and permitting for ground operations at the Parker Lake property and is well advanced at Pasfield Lake.
The 2023 exploration program continues to de-risk current diamond drill targets and provide positive results for future target areas. Equipment and supply mobilization for the spring diamond drilling program is underway.
Step wise moving loop (SWML) transient electro-magnetic survey.
Forward plan
Terra Uranium will receive the final interpretation of the SWML TDEM data from Convolutions Geoscience Corp, before the selection design of the inaugural diamond drill hole on the Parker Lake property.
Discussions are progressing on the design, deployment and processing of an ANT (Ambient Noise Tomography) passive seismic over the northern 15 kilometres of the Parker Lake ZTEM anomaly.
Terra anticipates receiving the final levelled VTEM data and waveform within the next week and will then immediately proceed with 3D inversion of the geophysics which will be incorporated into holistic earth models.
TL diamond drilling, a specialist in deeper drilling, has been contracted in a very tight exploration market to diamond drill HQ and NQ-sized holes to average depths of 1,200 metres.
Mobilisation of equipment and supplies over winter trails to Parker has been completed and drilling is scheduled to kick off in the spring.
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