Appia Rare Earths & Uranium (CSE:API) has identified three high-priority drill targets at its Otherside Uranium Property in the Athabasca Basin in Saskatchewan, Canada, following new geophysical data.
The company received and interpreted SPARTAN Magnetotelluric survey data along three lines at the 100%-owned property.
The results point to a prospective corridor on Line 2, where targets P-09, P-09A, and P-10 sit within a major electromagnetic conductor break.
The geophysical signatures at the target area show similarities to the structural setting of Cameco’s (TSX:CCO) McArthur River uranium deposit, which is the world’s largest ‘high-grade’ uranium mine.
Key features include chimney-like responses within the sandstone column, low magnetic response, a deep basement EM conductor system extending beyond 3km depth, and an approximate 100m offset in the unconformity at roughly 700m–800m depth.
CEO Tom Drivas says the results ‘strengthen’ the company’s exploration model for the property.
“Drill targets P-09, P-09A, and P-10 occur within a major conductor break and display several geophysical features that strengthen our original uranium exploration model for the Property,” Drivas notes.
The combination of these features provides a strong case for drill testing. At McArthur River, uranium mineralisation is associated with the P2N Thrust Fault, where unconformity offset and structurally controlled mineralisation occur near the contact between basement rocks and overlying Athabasca sandstone.
The processed data from Lines 1 and 3 remains under analysis, but Line 2 has emerged as the immediate priority for follow-up exploration drilling.
Appia holds a 100% interest in the Otherside Property, which covers 10,441.88 hectares in the Athabasca Basin. The company is open to strategic partnership opportunities to advance the property through the next phases of exploration.
Write to JC Villarba at Mining.com.au
Images: Appia Rare Earths & Uranium
