Okapi will have no shortage of targets to choose from when it starts its 2023 drill program at the Newnham Lake and Perch uranium projects in Canada’s Athabasca Basin.

Its recently completed summer exploration program – consisting of prospecting, outcrop and boulder sampling, as well as ground radiometric survey measurements – identified several high-priority drill targets in favourable structural environments suitable for hosting uranium mineralisation.

Okapi Resources (ASX:OKR) noted that geochemical analysis of rock samples yielded significant uranium values up to 265 parts per million U3O8 with anomalous uranium spotted in over half of the 69 samples taken from the program.

“The results confirm the Newnham Lake and Perch Projects contain our highest priority targets, with the recently completed program identifying favourable structural scenarios suitable for hosting uranium mineralisation,” managing director Andrew Ferrier said.

“Okapi has a substantial land package with six projects covering over 55,000 hectares.

“Importantly, five of those projects are located along the margin of the Athabasca Basin where depth to the unconformity is relatively shallow, typically close to 100 metres, making them ideal for targeting shallow high-grade unconformity-related Uranium deposits.”

Newham and Perch

The Newnham Lake project consists of 14 dispositions covering a total of 16,940 hectares which host eight zones of interest, each of which have anomalous results from the interpretation of stacked geological, geophysical and remote sensing layers.

Areas A1, A3, C1, D1 and D2 have been selected by the company as priorities for future work.

Over at the Perch project, the compilation of historical exploration well combined with recent satellite image analysis indicated a strong east-west structural fabric of intersecting northeast-southwest structures in the exposed, or near surface, Archean Basement rocks that lie north of the Athabasca Basin unconformity contact.

These intersections appear to be coincident with historically identified anomalous geochemistry.

Okapi’s focus is now on permitting and planning for drill programs to start at the two projects in 2023.




This article was developed in collaboration with Okapi Resources, 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.