The company’s project area in Wray Mesa contains the historic Geo Mine #1 that was shut down over two decades ago due to reduced uranium prices.
Drilling program, undertaken by Smith Drilling, commenced on 7 November 2012 and comprised 11 drill holes for a total of 1,049m depth.
The company intercepted highest grades in hole WM-12-002, at 0.197% eU3O8 under 4.0ft and 0.345% eU3O8 under 1.5 ft.
Aldershot president and CEO Mike Leidich noted that ongoing exploration at Wray Mesa confirms the project’s potential as uranium and vanadium producer.
"Even though our drilling campaign on this project was slowed due to a lack of funds, our activities have been reinvigorated with the excellent results to date and the influx of funds from the sale of several property interests to Energy Fuels Inc," added Leidich.
