Power Metal Resources Provides Positive Uranium Exploration Update at Tait Hill
Why we think this is good
The RNS provides an encouraging exploration update for Power Metal Resources' Tait Hill Uranium Property, with the identification of a significant intrusion-related uranium target at the Antler Zone. Key highlights include: - Sampling results confirming the prospective Antler Zone, with elevated uranium, thorium and rare earth element concentrations, as well as anomalous radon-in-water levels suggesting a proximal uranium source. - Rock samples from the Antler Zone returning the property's highest uranium values to date, including 1.68% U in a pegmatite. - Identification of another promising intrusive-style uranium target at the Northwestern Target area. Overall, the exploration results paint a positive picture of the uranium potential at the Tait Hill Property, which could lead to further development and value creation for Power Metal Resources. The lack of any negative financial or operational updates also contributes to the good sentiment score.
Key Points
- Sampling results confirm the prospective Antler Zone, with elevated uranium, thorium and rare earth element concentrations
- Antler Zone rock samples returned the property's highest uranium values to date, including 1.68% U in a pegmatite
- Identification of another promising intrusive-style uranium target at the Northwestern Target area
Summary
Power Metal Resources has provided an exploration update for its Tait Hill Uranium Property, which is part of the company's portfolio of uranium licences. The update, delivered through the Fermi Exploration joint venture with UCAM Ltd, highlights the identification of a significant intrusion-related uranium target at the Antler Zone.
Key findings include:
- Sampling results confirming the prospectivity of the Antler Zone, with elevated uranium, thorium and rare earth element concentrations, as well as anomalous radon-in-water levels suggesting a proximal uranium source.
- Rock samples from the Antler Zone returning the property's highest uranium values to date, including 1.68% U in a pegmatite.
- Identification of another promising intrusive-style uranium target at the Northwestern Target area.
The exploration results paint a positive picture of the uranium potential at the Tait Hill Property, which could lead to further development and value creation for Power Metal Resources.