Uvre reels in uranium-vanadium and rare earth assays at the East Canyon Project

The final batch of geochemical assays from drilling at the None Such and Bonanza prospects will help Uvre design its upcoming 2023 field program.

Uvre (ASX:UVA) says it will use the winter hiatus in field operations to collate and interpret this new data and integrate it with regional geological interpretation to define new target areas for the 2023 field season.

Some of the standout results at the None Such and Bonanza prospects, within the wider East Canyon uranium-vanadium project include 2.13m at 0.105% U3O8 from 40.84m, 1.5m at 1.04% V2O5 from 41.15m, 0.61m at 240ppm TREO.

All mineralised intersections are less than 60m from surface and according to UVA, were successful in identifying mineralised systems beyond the historical workings.

REE potential

UVRE says the elevated REE assays of up to 300ppm associated with clays are interesting, however the company plans to monitor the REE potential while focusing on uranium and vanadium targets.

Uranium and vanadium bearing ore deposits in the East Canyon district are generally confined to the Salt Wash Member of the Jurassic-age Morrison Formation, which due to the geological processes, naturally pinches and swells with variable thickness and grade.

So far, the assays received confirm that the mineralised uranium and vanadium system continues beyond historical workings at None Such and Bonanza at a shallow depth of less than 60m.

Project background

The East Canyon uranium-vanadium project comprises 231 contiguous claims (~418.7km2) prospective for uranium and vanadium in the Dry Valley/East Canyon mining district of southeastern Utah, USA.

The district hosts several significant uranium-vanadium operations including TSX listed Energy Fuels Inc’s La Sal Complex mines and development projects, and International Consolidated Uranium’s Rim/Columbus and Sage Plains project, which was subject to a recent acquisition and strategic alliance with Energy Fuels.

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.