Delecta (ASX:DLC) has announced that it has recommenced exploration activities at the 20km² REX Uranium-Vanadium Project in Montrose County, Colorado, including mapping and sampling of historical uranium oxide mineralisation.
The news comes amid an upturn in sentiment for the energy mineral as the world aims for carbon neutrality, along with recent news from China on plans to invest USD $440 billion in the construction of 150 nuclear reactors over 15 years.
Addressing the news, Delecta Managing Director Malcolm Day said: “With initial sampling programs returning encouraging results, including high levels of naturally occurring radioactive materials, the Company is accelerating drill targeting and formative work on structural and geological modelling for the upcoming field season. With this new knowledge we look forward to seeing the positive results continue.”
“With initial sampling programs returning encouraging results…the Company is accelerating drill targeting and formative work on structural and geological modelling”
REX is located within Colorado’s Uravan Mineral Belt, which has delivered historical uranium oxide production of 86m lbs @ 0.24% U3O8 and 441m lbs @ 1.25% vanadium.
The project is within trucking distance of the White Mesa Mill, the only operating conventional uranium-vanadium mill in the United States. The project houses four historic uranium mines and has not seen exploration work in recent years.
Delecta reports that a review of historical data has uncovered a series of uranium workings and drill hole data, which are in the process of being tested via sampling and mapping. This work program, along with data from a recent ortho-photo survey is being tasked with identifying targets for upcoming core drilling.
Field work is accelerated via the use of a recently-purchased RS-230 gamma ray spectrometer, which provides real-time analysis of U3O8 samples
The company notes that assays from previous sampling programs remain pending, as these were rejected by a laboratory in Nevada due to radiation levels exceeding thresholds.