Operated by Cameco, the project is lies 25km southwest from Cameco’s McArthur River mine and is 20km northeast of Cameco’s Millennium deposit.
The down-hole gamma survey results in drill hole MN-060 intersected 5.1m averaging 2.31% eU3O8, from 687.6m to 692.7m as well as a 0.4m interval, from 691.2m to 691.6m, averaging 10.92% eU3O8.
Enexco holds a 30% interest in the Mann Lake uranium project along with Cameco (52.5%) and Areva (17.5%).
Enexco president and CEO Arnold Armstrong said that the company is excited by the mineralized intercept from hole MN-060 at the uranium project.
"This is one of most prospective areas of the eastern Athabasca Basin, and we look forward to receiving further results throughout the ongoing drill campaign," Armstrong added.
The company is planning to conduct three-rig drill program on Mann Lake in 2014 as an 18-hole, 13,000m program and till date eight holes have been completed while two are in progress.
Currently, the drill program is underway and is scheduled to be complete by early April.
