92 Energy Limited (ASX: 92E) has commenced an approximately 1,600m of diamond drilling programme at the company’s 100% owned Tower Property in Canada’s prolific Athabasca Basin.
The 2022 Tower drill programme will utilise one diamond drill rig and will consist of an initial 1,600m of diamond drilling. Drilling will be carried out by Bryson Drilling Ltd of Archerwill, Saskatchewan and will be helicopter assisted.
“We are extremely excited to put our proven exploration techniques to work at Tower. Detailed review and interpretation of available exploration data at Tower has identified compelling structural corridors which we believe have direct analogies to high-grade uranium deposits in the Athabasca Basin,” Managing Director, Siobhan Lancaster, said.
“Not only is Tower located in the Tier 1 jurisdiction of the Athabasca Basin, but it is also located just 10km from the highest-grade uranium mine in the world, Cameco Corp’s Cigar Lake. Our objective is to discover a similar deposit in terms of size and grade.
“Alongside the current Tower drilling program, we continue to focus on the emerging GMZ uranium discovery at Gemini where follow-up drilling is planned for early next year, aiming to further expand this exciting discovery.”
Tower
The Tower Property is located in the prolific eastern Athabasca Basin uranium district, approximately 10km southeast of Cameco Corp.’s Cigar Lake uranium mine, which has a total mineral reserve of 152.4 Mlbs U3O8 at a grade of 15.41% U3O8 Despite its prospective location, the Tower Property has only been historically tested by four drillholes and has not seen any significant exploration work since 2015.
Review of the company’s 2021 airborne geophysical survey results along with historical data has identified highly prospective eastern and western structural corridors at Tower, both of which are the focus of the 2022 drill programme.
The interpreted structural setting of these corridors bears some similarities to the structural setting hosting Cameco Corp.’s Eagle Point/Rabbit Lake and Orano Canada’s McClean Lake uranium deposits, respectively. The Eagle Point/Rabbit Lake and McClean Lake uranium deposits have historically produced 203 Mlbs4 and 50 Mlbs of uranium, respectively.
The eastern prospective corridor at Tower will be tested by three drillholes and measures 6.0km in length, with the unconformity expected to be within 150m of surface. The western prospective corridor will be tested by two drillholes and measures approximately 4.5km in length, with the unconformity expected to be within 275m of surface.
For further information please visit: https://www.92energy.com/
