Global Energy Metals (TSX‑V:GEMC) highlights the commencement of airborne geophysical exploration by portfolio company Terra Balcanica Resources (CSE:TERA) across the Athabasca Basin in Saskatchewan, Canada.
Terra Balcanica subsidiary Terra North Resources has engaged Special Projects to conduct a high‑resolution radiometric and magnetic survey over the 163.7km2 Charlot‑Neely Lake Uranium Project.
The three‑week program covers 2,441 line‑kilometres at 75m line spacing, aiming to improve understanding of basement geology and identify uranium‑related anomalies.
Global Energy Metals maintains exposure through a 0.5% net smelter return (NSR) royalty covering Terra North’s Saskatchewan uranium portfolio, including Charlot‑Neely Lake, Fontaine Lake, Snowbird, and South Pendleton.
CEO Mitchell Smith says the airborne program is an important step in converting historical data into modern, high‑resolution targets.
“We are pleased to see Terra Balcanica and Terra North advancing systematic exploration across this highly prospective uranium portfolio,” Smith adds.
“The commencement of the Charlot-Neely Lake airborne program is an important step in converting historical exploration data and regional geological information into modern, high-resolution targets.”
The Charlot‑Neely Lake Project sits approximately 20km north of Uranium City along the northwestern margin of the Athabasca Basin.
Terra Balcanica reports the project hosts approximately a dozen historical radiometric anomalies, including rock‑chip results of up to 6% triuranium octoxide (U3O8) and historical outcrop readings exceeding 13,000 counts per second.
Terra North plans additional airborne coverage across remaining portfolio portions, including Snowbird Tectonic Zone, South Pendleton, and Fontaine Lake.
Global Energy Metals is a Canadian investment and exploration company focused on building a diversified global portfolio of battery metal projects, including cobalt, nickel, and copper assets across Canada, the US, Australia, and Norway.
Write to JC Villarba at Mining.com.au
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