A promising find: Uvre spots 2.4km+ anomaly at Utah uranium project
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Airbourne surveys at the Loya Ray prospect, part of at Uvre’s East Canyon project in Utah, have identified a 2.4km+ long uranium anomaly.
The East Canyon project is in the Uravan Mineral Belt and Salt Wash ore producing districts of the Colorado Plateau, an important source of uranium and vanadium in the US for more than 100 years.
Historic production in the region amounts to more than 85 million pounds of uranium at an average grade of more than 0.13% U3O8 and more than 440 million pounds of vanadium at an average grade of 1.25% V2O5.
Both uranium and vanadium are anticipated to play a key role in the generation and storage of low-carbon energy.
The district hosts several significant uranium-vanadium operations, including Energy Fuels’ La Sal Complex mines and development projects, and the White Mesa Mill which is the only fully licensed and operating conventional uranium-vanadium mill in the US.
Radiometric surveys are a powerful tool for identifying uranium anomalies which exist at surface, measuring radiometric emanations called gamma rays to determine concentrations of naturally occurring radioelements of potassium, thorium and uranium.
The recently completed airborne radiometric and magnetic survey at Loya Ray has identified an untested uranium anomaly with a strike length of over 2.4kms – highlighting the prospect’s prospectivity.
The anomaly starts at the historical Loya Ray mine workings, and extends northeast within the East Canyon project area, in an area which has had no prior mining or exploration work.
“The anomaly is considered significant, as it obliquely cuts across the strike of stratigraphy in an area not previously interpreted as the uranium bearing Salt Wash Member,” Uvre (ASX:UVA) says.
The target is further supported by previous rock chip uranium and vanadium laboratory analysis which returned 0.37% U3O8 and 1.69% V2O5 and 0.34% U3O8 and 1.10% V2O5.
“These combined results highlight the prospectivity at Loya Ray in terms of the 2.4km strike length and encouraging at surface grade,” the company said.
Uvre says the extensive uranium anomaly identified at Loya Ray is “highly encouraging” and the company will now prioritise further on ground exploration work to test for surface outcropping mineralization using a scintillometer and collecting further rock chip samples at the prospect for laboratory analysis.
Pending results of this fieldwork, a more advanced exploration program including potential drill testing will be ranked and prioritized along with any other targets identified from the airborne survey currently being processed, and any subsequent on the ground exploration required at the other prospects at East Canyon.
Follow up on ground exploration at Loya Ray Prospect is due to commence shortly.
Uvre also expects to report further results from the radiometric and magnetic interpretation work at East Canyon project shortly.
This article was developed in collaboration with Uvre, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.