The company has identified what appears to be a new parallel structure in a follow-up drilling campaign to the Gemini uranium discovery it made in September 2021.
Results from the new discovery hole included hydrothermal alteration, uranium pathfinders and 2.2m of 0.08% uranium, with a highlight intersection of 0.5m of 0.12% uranium.
Managing director Siobhan Lancaster said the new structure is considered highly promising because it shows there is potential for new zones to be discovered along the Gemini trend, which remains largely untested.
The company is now waiting on the return of assay results which it hopes will further confirm the potential of the new find. The assay results are expected to be received in around 4-8 weeks.
“The discovery of this parallel structure is highly significant because it demonstrates the potential for substantial growth at Gemini. The hole returned uranium mineralisation and key uranium pathfinders with intense alteration, making it ripe for follow-up drilling,” Ms Lancaster said.
92 Energy’s uranium exploration is targeting high-grade unconformity-associated uranium in the Athabasca Basin, home of the richest uranium fields in the world.
The company kicked-off the latest Athabasca campaign in mid-August utilising two diamond drill rigs, with the first one further examining the Gemini discovery and the second testing new exploration upside.
The second rig was sent to high-priority exploration areas along the Gemini uranium discovery trend and the western trend, with 92 Energy making the exciting new discovery in the last of 9 exploration holes completed during the program.
Hole GEM23-075 encountered intense hydrothermal clay and chlorite alteration in a major fault zone that is interpreted to be parallel to, and 300m east of the GMZ.
Drillhole GEM23-075 also intersected uranium mineralisation below the fault zone associated with hematite alteration.
To date there has been very limited drilling at the newly discovered parallel structure. With around 600m of virtually untested strike length, the company has made this is a high-priority target for additional uranium mineralisation in future drilling programs.
92 Energy also undertook a successful test of the Gemini uranium discovery, now known as the GMZ, with four holes returning significant intersections, including 27.6m of composite mineralisation, highlighted by 17.6m of 0.43% uranium with one subinterval of 1.2% uranium over 0.2m.
The latest drilling at the Gemini mineralised zone was aimed at extending the thick, high-grade mineralisation into open areas north and south of the main discovery.
Notably, the company has now expanded the defined uranium mineralisation at the GMZ to over 250m x 290m.
92 Energy’s Athabasca team is being advised by the recently appointed vice president of exploration, Serdar Donmez.
Mr Donmez has been actively involved in a large number of uranium exploration and development projects operated by Denison Mines in northern Saskatchewan, most notably the Wheeler River project, which hosts the Phoenix and Gryphon uranium deposits.
Recently, he held the position of resource geology manager at Denison Mines, where he made significant contributions to the development of mineral resource estimates. Mr Donmez was a member of the team that investigated the application of the ISR mining technique in high-grade uranium deposits in the Athabasca Basin.
