Impact: Very Positive
Assays were reported from the discovery hole at the A1 conductor at the 100%-owned PLN uranium project in the SW Athabasca Basin. Assays of up to 59.37% over 1m occur within a wider interval of 6.97% U3O8 over 15m. The exceptional uranium grades and structure thickness confirms the discovery previously identified by scintillometer results (read more), and suggest this is a significant hydrothermal mineralizing system that could be considerably larger. While discovery hole -35 clearly shows the strongest mineralization, three other holes have radioactivity and may return positive assays. We believe the zone is open in all directions – along strike, to depth and up dip towards the unconformity. Further work is required to expand the zone along trend, vertically, and determine if a plunge direction can be determined, such that drill targeting might chase a higher-grade core of mineralization.