The survey covered ~60% of the Gibbons Creek project area, focusing on areas in which known or interpreted conductors are located. Pic: Getty Images
TX3 finds numerous conductors at Gibbons Creek
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- Preliminary interpretation of VTEM data identifies numerous conductors in the Airstrip prospect
- Several areas at both Airstrip and Butler Lake require additional processing work
- These results will be released in August
Special report: A VTEM survey over Trinex Minerals’ Gibbons Creek uranium project has identified multiple conductors at the Airstrip project.
Trinex Minerals (ASX:TX3) is bracing for a busy summer of upcoming work programs at the Gibbons Creek asset in Canada’s Athabasca Basin, home to huge uranium operations including Cameco’s producing McArthur River and Cigar Lake mines.
Recent drilling at Gibbons Creek confirmed low level uranium mineralisation with four of five holes intersecting uranium at or near the unconformity between the Athabasca Sandstone and underlying basement metasediments.
While mineralisation in the area can be poddy or nuggety, making it challenging to reconcile visual estimates in drill core, the explorer believes widespread anomalism reflected in the assays is an indication of a much larger uranium source near to the Airstrip prospect.
Further exploration required
A versatile time domain electromagnetic (VTEM) survey, which generates currents that diffuse into the earth, has identified several newly identified conductors in the Airstrip prospect area that coincide with magnetic lows and terminate or are interrupted by cross cutting structures.
TX3 believes this is potentially caused by hydrothermal fluids that alter the conductive graphite within the basement.
The survey covered ~60% of the project area, focusing on areas of known and interpreted meta-sediments, where historical EM surveys identified zones of high conductivity.
Further investigation by way of ground-based electro-magnetics (EM) or immediate drilling will take place once the final data set has been received and interpreted.
Refining insights for drilling
“We anticipated that the VTEM data would enhance our interpretation of the Airstrip and Butler Lake Prospect areas, and it has delivered as expected,” TX3 managing director Will Dix says.
“We now possess a more comprehensive understanding of the location of conductive units and their relationship with cross-cutting structures.
“We are hopeful that the final data, along with the improved resolution in the magnetics, will further refine our insights, enabling us to plan follow up surface-based geophysics over key areas or proceed directly to drilling in specific areas within the Airstrip and Butler Lake prospects.”
This article was developed in collaboration with Trinex Minerals, 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.
