Special Report: Unmined mineralisation and more extensive than expected historical workings are the key takeaways from TNT’s initial exploration at the East Canyon project.

Mapping and sampling carried out as part of its exploration program on the historic None Such and Bonanza mine workings in the project’s northern claims found that the Bonanza workings were more extensive than initially understood.

Additionally, TNT Mines (ASX:TIN) said it observed extensive visible uranium and vanadium mineralisation throughout the workings at both prospects.

Extremely high readings up to 42,000 counts per second (c/s) on a handheld scintillometer were also noted within both workings.

Scintillometers are used by geologists to assess a gamma count rate in c/s, with higher counts expected to be associated with uranium mineralisation. Readings above 5,000 c/s are considered highly anomalous in the region.

But the biggest hint that there is significant untapped potential at the project is the discovery that mineralisation appears to still be present in the workings.

Several historical mineralised faces that were drilled for uranium and vanadium were never blasted and mined.

Visible mineralisation within old workings at TNT Mines’ East Canyon project Pic: Supplied

Rock chip and channel samples collected during the exploration program have been sent for assaying while mapping data is currently being collated.

Locations of multiple historical drill holes and vent shafts at surface within the vicinity of the None Such and Bonanza workings have also been identified and recorded.

The work carried out under the initial exploration program is expected to aid in identifying the possible direction of the mineralised trends below surface.

TNT says it might consider the use of down-hole gamma probes to assist with the prioritisation of drill targets.

Subject to the review and interpretation of sample assays when available, mapping and other data collected as part of this initial program, high priority drill targets will be identified and selected.

TNT also plans to assess the appropriate permit applications to be submitted.

East Canyon features numerous historic workings within the Dry Valley/East Canyon mining district in the wider Uravan Mineral Belt, an important source of uranium and vanadium ore in the US for more than 100 years.

Samples collected by previous owner Vancorp Aust, which was acquired by TNT, over 2018 and 2019 returned results of up to 0.47 per cent uranium and 9.21 per cent vanadium.

The project is also within trucking distance of TSX-listed Energy Fuels’ White Mesa mill, the only fully licensed and fully operating conventional uranium/vanadium mill in the US.

Uranium appears to be undergoing a renaissance as demand outstrips supply, which was already constrained prior to projects being shut due to the COVID-19 pandemic.

>> Now watch: Stockhead V-Con: Why uranium is set to go nuclear


This story was developed in collaboration with TNT Mines, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.