Terra Uranium Ltd (ASX:T92) chair Andrew Vigar speaks with Proactive soon after confirming the presence of uranium mineralisation with a peak grade of 32.5 parts per million over 0.2 metres in diamond drilling at its Parker Project in Canada's Athabasca Basin. Assays from the diamond drill hole outline uranium mineralisation in an altered and fractured zone in the basement as suggested by earlier reported downhole gamma radioactivity logs. The Parker Project is about 50 kilometres west of Cigar Lake and 50 kilometres northwest of McArthur River, the worlds largest and highest-grade uranium mines, operated by Cameco. This is the maiden diamond drill hole for T92, the first in the Parker Lake Project area and the first within this 25-kilometre zone of ZTEM basement conductors on this section of the Cable Bay Shear Zone.
Vigar said: The presence of anomalous uranium and pathfinders in our first drill hole at Parker is very encouraging and bears similarities to that recently reported from IsoEnergys Hawk Project on the Cable Bay Shear Zone 40km to the northeast.
We have only just begun to orientate ourselves on this fertile structure, having brought all the scientific data up to modern standards suitable for targeting a major uranium discovery in this new domain.
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Terra Uranium Ltd