Uvre could have a new prize at its None Such prospect after preliminary signs of REEs were found in the five diamond holes where visible uranium-vanadium mineralisation was observed.
Portable XRF readings of samples not only confirmed the presence of uranium and vanadium mineralisation in all five holes, it also indicated the presence of rare earths elements topping out at 4,274ppm total rare earth oxides (TREO).
While pXRF are indicative and are in no way a replacement for laboratory assays, the results still provide Uvre (ASX:UVA) with a picture of just what is present at the None Such prospect within its East Canyon project in Utah.
Not that the company has very much longer to wait given that initial assays to confirm levels of uranium, vanadium and rare earths in the visual mineralised core are expected in about four weeks.
Additionally, pXRF scans on all 11 core holes is ongoing with any samples containing REE to be sent for laboratory assays.
Drilling at the Bonanza prospect is also due to begin imminently.
“The rare earth potential is an exciting new development for Uvre at the East Canyon Project,” managing director Peter Woods said.
“The first batch of holes drilled as part of the maiden drill program has already identified signs of uranium, vanadium and now rare earths mineralisation.
“We look forward to receiving more data as it comes to light and for drilling to commence at the Bonanza Prospect.
Geophysical probe
Uvre has also processed downhole geophysical probe data from 10 of the 11 holes with five holes returning mineralisation.
This included results such as 1.68m at 0.053% equivalent U3O8 from 32.67m and 0.91m at 0.058% eU3O8 from 37.04m.
Calculation of eU3O8 grades from the gamma logs was completed using industry standard procedures to convert counts per second (CPS) to grade.
This article was developed in collaboration with Uvre, 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.