Tasty uranium, vanadium results highlight potential of Delecta’s REX project

Delecta is already digesting its latest REX Project assays, apparently ripe with the same distinctive Coloradoan hints of very high uranium and vanadium the Uravan Belt in Colorado is famed for.

Assays of samples that were previously rejected for exceeding laboratory thresholds due to high levels of radiation, returned strongly anomalous results of up to 0.53% uranium and 3.32% vanadium pentoxide (V2O5).

Given that the Uravan Mineral Belt has been an important source of uranium and vanadium in the US for more than 100 years (more than 85 million pounds of uranium and over 660 million pounds of vanadium), the result is encouraging.

Scintillating

It also comes as Delecta (ASX:DLC) continues its geologic mapping and assessment program with an experienced on site geologist using a shiny new RS-230 gamma ray spectrometer to provide real time analysis of U3O8 samples to accelerate field work and assessment of prospects.

“The recent sample results demonstrate the very high uranium and vanadium content that the Uravan Belt is noted for and augurs well for the ongoing program,” managing director Malcolm Day said.

“Together with the scintillometer readings we already have multiple targets indicated for follow-up testing.

“Our review of the historic drilling results and mining plans will also provide key information on the extent and trend of the already mined mineralisation and provide new insights into possible extensions to that mineralisation.”

The company had recently acquired historical mine and drill hole data that will be incorporated – along with a recently completed ortho-photo survey – into the current field work program to guide ongoing exploration.

Delecta expects the current mapping and assessment program to be completed in the first quarter of 2022, followed by the completion of drill targeting and permitting.

Upcoming work

Besides completing the mapping and sampling work along the sandstone mesa rims on Rex, the company will also complete a review of the existing underground mine plans and surface drill results to locate mineralisation and establish mineralised trends so as to provide a guide for surface drilling.

It will also locate previous surface drill holes and probe where open while engaging with the US Bureau of Land Management (BLM) in relation to entering old workings and its planned drilling program.

REX consists of 256 contiguous BLM mining claims covering 2,072ha with four historical uranium mines within the project area that are readily accessible via surfaced and county-maintained gravel roads from either Moab or Monticello.

It is within trucking distance of the White Mesa Mill, the only operating conventional uranium-vanadium mill in the US that has 90% spare capacity available to toll-treat mined ore.

This article was developed in collaboration with Delecta, 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.