The company said that the area does not return anomalous uranium in rock chip samples at surface. The geophysical anomaly has strong resistivity, high chargeability readings (IP) and a magnetite destructive signature. All three are the type of signatures that may be associated with porphyry style mineralization.
The geophysical data indicates that the potential altered or mineralized rock is near surface. A drilling program of six to ten angle holes averaging 250mt in depth is planned and permitted. Drill pad and road construction have begun.
Apart from the survey that identified the target, a survey grid was also run over the area of known uranium mineralization at the North Zone. The re-evaluation of the Chevron data coupled with the WUC IP survey over the North Zone suggests previous drilling by Chevron and WUC may not have adequately tested the strongest IP anomalies.
A drill test of this area is planned when approval of the plan of operation covering this location is received from the BLM.
