Uvre maps 30+ occurrences of uranium at surface in Utah

Uvre identifies more than 30 occurrences of uranium at surface during field mapping at East Canyon project in Utah, USA
Field work also flagged 2.4km strike length at Loya Ray prospect and identified 5 new prospects
Further exploration planned in Q1 or Q2 2024

Special Report: Field mapping at Uvre’s East Canyon project in Utah, USA has confirmed 30+ occurrences of uranium at surface.

The project is in the Uravan mineral belt and Salt Wash ore producing districts of the Colorado Plateau in south-eastern Utah, comprising 231 claims (18.7km2) prospective for uranium and vanadium.

It’s also in close proximity to several significant uranium-vanadium operations, including Energy Fuels’ La Sal Complex mines and development projects, and the White Mesa Mill which is the only fully-licenced and operating conventional uranium-vanadium mill in the US.

Historic production in the region amounts to more than 85Mlb of uranium at an average grade of more than 0.13% U3O8 and more than 440Mlb of vanadium at an average grade of 1.25% V2O5.

The potential discovery of a uranium deposit at surface could bode well for Uvre (ASX:UVA) at a time when nuclear energy’s role in the clean energy transition is front and centre, and uranium spot prices have pushed past US$80/lb for the first time in 12 years.

Five new prospects to explore

In addition to over 30 mapped occurrences of uranium minerals being identified, the field work confirmed consistent uranium minerals in five clusters over a 2.4km strike length at the Loya Ray prospect.

Uranium soil anomalism was also observed at the Big Sally prospect – which has yet to undergo any exploration – and the company also identified a bunch of previously unknown prospects along similar elevation to known historical workings.

The newly identified prospects have been named Sue Mac, Balmia, None Such West, None Such East and Bonanza West.

“The field mapping has confirmed the exciting 2.4km strike length at Loya Ray with observations of outcropping uranium minerals in five clusters defining the strike length in a northeast orientation,” UVA MD Peter Woods said.

“Given the substantial size of the target which has some historical mining evidence, we now require detailed facies mapping to learn the best locations for drill targeting in search of a deposit close to surface.

“At Big Sally we found soil anomalism and various other additional exciting prospects within the East Canyon project area which had not previously been known by the company and were identified during the field mapping program.

“There also appears to be a consistent number of uranium minerals identified within a constrained elevation range which was identified throughout the East Canyon project area, which is a considerably large space, so this observation will assist to further focus the exploration search area in pursuit of a potential uranium-vanadium-rare earth deposit.”

Pic: East Canyon project showing all prospects and uranium mineral locations identified during the mapping program. Source: UVA.

More field work planned for 2024

The company notes that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses, with soil and rock samples from Big Sally and Loya Ray having been sent to a certified laboratory for uranium, vanadium and rare earth analysis.

The frequency and geographical spread of uranium minerals in outcrop has confirmed a much larger uranium mineralised system than previously anticipated, UVA says.

The field team now needs to better understand the relationship and distribution of uranium-vanadium mineralisation within the Saltwash Member at a localized level for each of the prospects to better plan and target future drill holes.

Further facies mapping work will be planned once the laboratory rock chips sample results have been received, as they will help rank and prioritise which prospects to focus on and in what order.

Further exploration work will likely commence in Q1/Q2 2024.

 

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.

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