Fin Resources (ASX:FIN) is gearing up for high resolution airborne magnetic and radiometric surveys across it’s Ross and Cancet West projects in Quebec, Canada.
The $9.73 million market capitalisation company says the surveys will be undertaken during the spring/summer 2024 field season.
The surveys come after a review of recent and historical work across the Ross Project has identified potential uranium-thorium-rare earth element (REE) bearing pegmatites.
Historical sampling completed in 2007 at Ross identified ‘highly anomalous’ uranium (U3O8) in soil sampling up to 1,486 parts per million U3O8 associated with low thorium.
Analysis completed by Neil Pendock flagged a ‘significant’ number of potential uranium occurrences across the project. Gas estimated from Sentinel-2 VNIR (visible and near-infrared) showed anomalous helium, which may originate from radioactive decay of uranium.
Director Jason Bontempo says: “Fin continues to aggressively advance towards its maiden drill program at White Bear, which will be an extremely exciting diamond drilling program for Fin, with the fully funded initial phase of approximately 1,500m representing the first drilling ever completed across the Cancet West Project.
Additionally, we have identified uranium potential across our Ross Project and will assess the possibility of uranium mineralisation at Cancet West and Gaspe. This is a very exciting time for Fin.”
Fin Resources is a battery metals explorer focused on the development of its Mt Tremblant Lithium Projects in Quebec, Canada.
As of December 2023, the company had $1.856 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Fin Resources
