Terra Uranium (ASX:T92) intends to enhance target areas within the Spire and Horizon projects in the Athabasca Basin, Canada, for initial field operations next year.
The results from recently completed airborne and ground surveys will support the company to enhance target areas, as well as prepare for an initial scout drilling program using the new access provided by the Wollaston lake all-weathered road.
Executive Chairman Andrew Vigar says adding the Spire and Horizon projects to the company’s portfolio has increased its land position by 50% and provided additional access to areas that target mineralisation near surface.
During October, Terra signed definitive option agreements with ATHA Energy Corp (TSX-V:SASK) to acquire a percentage of the Spire and Horizon projects, by incurring a minimum C$4.75 million ($5.12 million) in statutory exploration expenditure.
“An active exploration program for 2025 is being developed by our Troy Marfleet with the assistance of the Axiom Exploration team,” Vigar says.
“Terra Uranium is now encouraged to see the province investing in permanent infrastructure to benefit the people of the Wollaston Lake area and we look forward to connecting with, and working with, the local business group.”
The company will be submitting these samples to the SRC Analytical Laboratory in Saskatoon, Saskatchewan. Follow-up sampling and drilling is also planned for next year.
Numerous priority target areas have been identified, following up on historical trend and boulder sampling, as well as airborne surveys completed in 2023.
Field teams have also confirmed anomalous boulder trains at Spire and will use the same technique at Horizon during spring when access to the properties is increased.
Once permits are obtained in spring, Terra will be launching a longer prospecting and boulder sampling program across all 12 claims of both projects now that infrastructure allows full access.
Axiom Exploration Group was contracted to collect and process airborne magnetic and gravity data over both projects. The surveys were conducted over the full areas of interest.
The Spire and Horizon projects cover 60,965 hectares and lie on the eastern rim of the Athabasca Basin in Saskatchewan, Canada. Both properties sit within the Needle Fall Shear Zone and associated cross-cutting regional scale Tabernor faults known for hosting uranium mineralisation.
Terra Uranium is a mineral explorer primarily focused on its position in the Athabasca Basin, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Terra Uranium
