Thunderbird Resources (ASX:THB) is gearing up for a maiden drilling program in Canada’s Athabasca Basin with a geochemical survey now underway over its Hidden Bay Uranium Project.
The Athabasca Basin is home to some of the world’s largest and highest grade uranium mines. The region accounts for around 20% of global supply.
Thunderbird’s Hidden Bay Project is located 20km southwest of Cameco’s Rabbit Lake uranium deposit – the first and longest operating uranium mine – on the eastern flank of the basin.
Rabbit Lake was in operation for over 41 years and produced more than 203 million pounds of uranium concentrates.
Thunderbird’s 2024 summer exploration program includes a Spatiotemporal Geochemical Hydrocarbons geochemical survey and a logistics review of the proposed drilling program.
Also on the agenda is further reconnaissance activities including geological mapping and scintillometer surveying over key target areas.
Executive Chairman George Bauk says in the coming two weeks, he and Technical Director Robin Wilson will visit each of Thunderbird’s projects in and around the Athabasca Basin to plan work programs for the remainder of 2024 and beyond.
“The main initial priority is the implementation of a maiden drilling program to test the exciting basement type uranium targets at Hidden Bay,” he says.
“It’s a great time to be active in the uranium sector with such positive sentiment towards the significant role it will play in providing a cleaner energy solution to the world.
This coupled with geopolitical challenges associated with the nuclear supply chain sees various agencies forecasting a higher uranium price in the short term, from a current price of US$91/lb.”
This week Mining.com.au is profiling Canada’s mining industry, which is a major cornerstone of the country’s economy contributing C$125 billion to national GDP and responsible for 22% of the country’s total domestic exports.
Write to Angela East at Mining.com.au
Images: Thunderbird Resources
