92 Energy uncovers parallel uranium mineralisation zone at Gemini discovery
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2023-11-08
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Canadian-focused uranium explorer 92 Energy (ASX: 92E) has further confirmed the potential of its Gemini discovery with new assay results corroborating earlier suggestions of a parallel zone of mineralisation.In September, 92 Energy announced drilling at the Gemini uranium discovery in Canada’s world-class Athabasca Basin had identified what appeared to be a new parallel structure.That success was the first follow-up of the drilling campaign that led to the September 2021 Gemini Mineralised Zone (GMZ) discovery.New assays have now confirmed that uranium and high-grade copper mineralisation are located along a parallel zone, 300m east of the GMZ.92 Energy managing director Siobhan Lancaster said drilling results have also significantly extended the footprint of the GMZ.“These assays are highly significant as they reveal that the parallel structure holds strong potential for replicating the discovery of the GMZ,” Ms Lancaster said.“Results to date highlight the possibility of uncovering other additional mineralised zones along the northern extensions of Gemini and the area around the recently identified radioactive boulder in the southern part of the project.”“The Gemini project covers a vast area, much of which remains virtually unexplored, and there is clearly immense growth potential in several directions, as these results show.”Significant drilling programThe receipt of the positive assay results follows the completion of a successful 2023 northern summer exploration program at Gemini, where the company completed 131 drill holes for a total of 3,659m, with 1,385m in 4 holes located at the GMZ and 2,274m in 9 holes targeting exploration areas.The highlight result from the program came from drill hole GEM23-072A located in the southern section of the GMZ between previously drilled fences where high-grade uranium mineralisation was encountered.GEM23-072A intersected uranium mineralisation starting at a depth of 224.5m, including 17.5m of continuous mineralisation with an average grade of 0.38% triuranium octoxide (U3O8) featuring two high-grade subintervals 0.82% and 0.94% U3O8 over 2.0m and 0.5m, respectively.Significant copper values were obtained from the same hole, including 12.5m at 0.75% copper with a subinterval of 2.5m at 2.7% copper, which contained 0.5m at 7.5%.That program was successful in achieving three major objectives for 92 Energy, including expanding the GMZ, testing nearby targets and prospecting for uraniferous boulders.As well as confirming the parallel zones, the program has helped expand uranium mineralisation at the GMZ to over 250m by 290m.Elsewhere, a radioactive boulder discovered 18km southwest of the GMZ returned an assay of 0.39% triuranium octoxide, a compound of uranium.92 Energy was particularly buoyed by that find as radioactive boulders can be used to help target the source of uranium mineralisation.Due to the success of the latest Gemini campaign, 92 Energy is looking to accelerate activities there and is preparing to conduct new additional ground geophysical surveys over the greater GMZ area.The company will use information from that program to better define structural trends to constrain targets for upcoming drilling programs.A ground gravity survey over the greater GMZ area will cover the GMZ, the GMZ northern extension and the parallel structural zone.
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