- 92 Energy (92E) intersects its best interval of uranium mineralization to date at the GMZ uranium discovery at its Gemini project in Canada
- Six drill holes over 2,000 meters have been completed as part of a planned summer program of an initial 6,000 meters
- The holes intersected the thickest zones of total composite uranium mineralization to date, totaling 68.7 meters and 48.7 meters, at over 0.05% uranium equivalent.
- While chemical analyzes for all summer drilling are still pending, drilling at the GMZ discovery will continue to the southwest
- 92 Energy shares are up 12.2% to trade at 50.5 cents at 11:35 a.m. AEST
92 Energy (92E) has intersected its best interval of uranium mineralization to date at the discovery of GMZ uranium at its Gemini project in Canada.
To date, six drill holes totaling 2,038 meters have been completed out of a planned summer program of 6,000 meters.
The company has now received equivalent uranium grades for all drill holes completed, based on results from the downhole calibrated triple gamma probe.
92 Energy reported a downhole probe result of 41.8 meters of 0.5% uranium equivalent, with 6.4 meters of 2% uranium equivalent on average.
The results showed that 92 Energy reached its thickest zones of total composite uranium mineralization to date, totaling 68.7 meters and 48.7 meters at over 0.05% uranium equivalent.
92 Energy chief executive Siobhan Lancaster said the results once again demonstrate that GMZ is a significant near-surface uranium discovery in the Athabasca Basin.
“As we suspected, the mineralization becomes stronger and thicker along the southwest dipping direction,” Lancaster said.
“It is important to note that we are now seeing high-grade mineralization within the broader mineralized zone. »
The company is still awaiting chemical analyzes for all summer drilling, with drill core samples to be sent to the Saskatchewan Research Council geoanalytical laboratory. Results are expected within six weeks.
Drilling at the GMZ will continue to the southwest where uranium mineralization appears to be approaching top of bedrock.
92 Energy shares rose 12.2% to trade at 50.5 cents at 11:35 a.m. AEST.