NickelX (ASX:NKL) is gearing up for a field reconnaissance program during the northern hemisphere spring in April/May 2024 at its Elliot Lake Uranium Project in Ontario, Canada.
The company says the program will include mapping, sampling and drillhole sitting, and is being designed following the discovery of uranium mineralisation and priority target areas identified from data compilation and review at the project.
Uranium contractors CSA Global and Southern Geoscience have been enlisted to spearhead the program.
Sparse historical drilling within NickelX’s tenure and immediate surrounds intersected ‘prospective’, mineralised conglomerates that returned average equivalent uranium (U3O8) values up to 900 parts per million (0.9%) U3O8.
First pass geological review has also identified 3 priority areas, 2 of which with known mineralisation, over a combined 35km strike of prospective tenure.
The highest priority target, the Crazy Lake-Gods Lake Trend, sits along strike from the ‘large’ historic Quirke No 1 mine about 14km to the east, which exploited uranium-bearing conglomerate beds measuring 13km long and up to 5.5km wide.
A geophysical data review is in progress designed to better constrain these and generate additional targets.
Managing Director Matt Gauci says: “The company now owns 100% of the Elliot Lake Uranium Project, part of which is already granted. Our first pass geological review has identified priority target areas with results from a complementary geophysical review expected shortly.
Importantly, as we are targeting stratabound conglomerate style uranium along underexplored interpreted extensions of a major uranium mining centre, the mineralisation is often consistent in grade and thickness, making for rapid discovery potential.”
The Elliot Lake uranium district produced 362 million pounds U3O8 at 0.106% from 13 underground mines active between 1955 and 1996 within a 15km by 15km area.
NickelX is an explorer focused on uranium, gold, and nickel across the southeast and southwest Yilgarn province of Western Australia, as well as the Elliot Lake district in Ontario, Canada.
The Elliot Lake Project consists of 4 sub-projects comprising a total of 30 multi-cell mining claims for 129km-square.
Write to Adam Drought at Mining.com.au
Images: NickelX
