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Terra Uranium turns first diamond drill at Parker Lake targeting 30-kilometre conductor

Published 31/05/2023, 12:23 pm
© Reuters.  Terra Uranium turns first diamond drill at Parker Lake targeting 30-kilometre conductor
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Terra Uranium Ltd (ASX:T92) has leveraged extensive geophysical and geochemical programs to define targets for the maiden diamond drilling campaign at Parker Lake Uranium Project in Canada's Athabasca Basin, investigating a large 30-kilometre conductive plate believed to be prospective for uranium.

Apart from the large conductive plate, the company will drill multiple targets on both the Parker and Pasfield Lake projects within the northern hemisphere’s current spring/summer season.

T92 is particularly interested in establishing an understanding of sandstone and basement geology on the tenure, looking for unconformity uranium deposits, which tend to be of significantly higher grade.

Best-in-class targets

“Over the last nine months, T92 has rapidly completed multiple sophisticated geophysical and geochemical surveys throughout our 1,000-square-kilometre portfolio,” T92 executive chair Andrew Vigar said.

“This has identified multiple best-in-class Athabasca unconformity targets, and the company’s first-ever diamond drill hole will be in an anomaly at Parker Lake with all the correct responses for success, in a conductor that exceeds 30 kilometres in length that has never been tested before.”

An unconformity is a boundary between two rock units that reflects a geological time gap.

The time gap is a result of either erosion (removal of rock) or non-deposition (a time when no rocks were deposited).

The rocks below the unconformity surface are older than the rocks above and were exposed to erosion for a longer period of time.

Nearly all deposits are closely associated with fault systems, which play a major role in the ore-forming process by providing a conduit for fluids to cross the unconformity.

Terra’s findings so far indicate Parker Lake has similar geophysical responses to those observed at both the McArthur River and Cigar Lake unconformity uranium deposits.

The company intends to continue leveraging geoscience as its main targeting technique, with the freedom to do so due to T92’s full ownership of its portfolio of assets.

Read more on Proactive Investors AU

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