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Latitude Uranium Inc. (CSE:LUR) – Angilak Radiometric Survey Finds New Targets, Drilling Underway


Impact: Slightly Positive

Latitude Uranium announced the completion of a 10,856 line-km airborne radiometric survey and the commencement of the 2023 drill program at its recently acquired 100%-owned Angilak uranium project in Nunavut, Canada (read note). The radiometric survey covered an extensive 53,000 ha area previously covered by a Very Low Frequency Electromagnetic (VLF-EM) survey and identified new drill targets both inside and outside the LAC 50 uranium deposit trend. A drill program has also begun with initial results due by the end of July. We believe that this will be the nature of exploration and development moving forward – less about wildcat or early-stage drilling across the massive Angilak property, and more about a concerted effort to go from known to unknown, expanding existing resources by extending known zones along the main trends. We expect lateral expansion to also take precedence over vertical expansion, although the latter could prove to be very fruitful down the road. These Beaverlodge-type deposits are hosted within near-vertical vein-like structures associated with faults and shear zones. 

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