TNT Mines’ exploration is looking promising with high-grade uranium assays
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Special Report: TNT Mines is off to an encouraging start at its East Canyon project in Utah with initial underground channel sampling returning high-grade assay results.
Notable results from the sampling work at the historical None Such mine are 0.6m at 0.34 per cent uranium and 1.55 per cent vanadium, as well as 1m at 0.22 per cent uranium and 2.29 per cent vanadium.
TNT Mines (ASX:TIN) said assays from a further three underground channel samples and one underground grab sample had been delayed due to radiation limits exceeding the thresholds at the ALS laboratory in Reno, Nevada.
This has resulted in the samples being sent to the ALS facility in Vancouver, Canada, that is capable of handling more radioactive samples.
Sampling work was guided by results from handheld scintillometer, which the company previously noted had returned extremely high readings up to 42,000 counts per second (c/s).
Scintillometers are used by geologists to assess a gamma count rate with a c/s of more than 5,000 considered highly anomalous in the region.
The company added that assays from the larger and more extensive Bonanza workings were pending and expected shortly.
Once all results from the initial program are received and interpreted, TNT plans to develop and carry out a more intensive exploration program.
TNT’s East Canyon project features numerous historical 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.
More recently, the company has observed visible mineralisation throughout the workings that indicate that there is significant untapped potential.
Several historical mineralised faces that were drilled for uranium and vanadium were never blasted and mined.
East Canyon 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.