Special Report: TNT Mines has kicked off initial exploration at its East Canyon uranium-vanadium project in Utah, where samples have returned grades of up to 0.47% uranium and 9.21% vanadium, ahead of schedule.

The company announced on Tuesday it had engaged a Utah-based mineral acquisition and exploration services firm to carry out geological mapping and geochemical sampling of several underground workings on the East Canyon claims that host visible high-grade uranium and vanadium.

TNT (ASX:TIN) said this work would be combined with a review of historical data to characterise local mineralised trends within its project and assist in the generation of high-priority targets for follow-up exploration and drilling planned for the third and fourth quarters of 2020.

“It is great to hit the ground running at East Canyon and commence work ahead of schedule,” executive director Brett Mitchell said.

“The asset has many favourable attributes including the presence of visible high-grade mineralisation in numerous historical workings that remain in relatively good condition and can be accessed by technical personnel.

“Low-cost mapping and sampling of these selected areas will allow us to better define our follow up exploration activities including the initial drilling program in the second half of 2020.”

TNT Mines’ exploration team setting up Pic: Supplied

READ: May Winners Column: Gold is still #1 but uranium casts a warm glow

TNT signed a binding agreement in May to acquire Vanacorp Aust and the 200 unpatented lode claims that collectively make up the East Canyon project.

East Canyon features numerous historic workings — including the ‘None Such’ mine — within the Dry Valley/East Canyon mining district that is in the wider Uravan Mineral Belt, an important source of uranium and vanadium ore in the US for more than 100 years.

Many of the workings remain open and appear to be in good condition, with samples collected by Vanacorp over 2018 and 2019 returning 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.


>> 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.