TNT Mines Limited (ASX: TIN) has announced significant high-grade assay results of up to 1.27% U3O8 and 8.30% V2O5 from the underground exploration channel sampling program at its East Canyon Uranium-Vanadium Project in south-eastern Utah, USA.
The company reported that high-grade uranium and vanadium results were received from underground channel sampling at None Such and Bonanza Workings. Highlights include 1m @ 1.27% U3O8 & 4.53% V2O5; and 0.6m @ 0.69% U3O8 & 2.82% V2O5.
TIN said that it has identified mineralised faces underground historically drilled for mining uranium and vanadium ores, but which never blasted and mined. The company said that these form a key part of initial surface drilling program being planned.
TNT Mines announced that the initial mapping and sampling of historic None Such and Bonanza workings is now complete and priority drill exploration targets were identified.
The company said that the planning and permitting process is underway for initial drill program.
East Canyon project
The East Canyon uranium-vanadium project comprises 200 contiguous claims prospective for uranium and vanadium in the Dry Valley/ East Canyon mining district of south-eastern Utah, USA.
East Canyon is located only 50km away via a major highway from the White Mesa Mill, the only fully licensed, permitted and operational uranium and vanadium mill in the USA.
In August 2020, visible uranium and vanadium mineralisation was observed throughout None Such and Bonanza workings at East Canyon.
Channel sampling at East Canyon
The company had recently commenced underground exploration channel sampling at the 100%-owned East Canyon Uranium-Vanadium Project.
TIN said that the samples taken were from face channel sampling of exposed mineralisation from within the underground workings at both None Such and Bonanza.
The company noted that some of these samples emitted radiation levels that exceeded the safe handling limits of the ALS laboratory in Nevada and required special packaging before being transported to ALS’s facility in Vancouver, Canada, which is suitably configured to handle samples of this nature. TNT Mines said that these sample assay results have now been received.
Assays exceed expectation
The company said that all assays received to date for both uranium and vanadium and the extent over which they have been taken from in the underground workings have exceeded the Company’s original expectations and provided confidence for management to plan an initial drilling program.
High-grade uranium and vanadium results received from underground channel sampling at None Such and Bonanza Workings include EC2002a: 1m @ 1.27% U3O8 & 4.53% V2O5; EC2021: 0.6m @ 0.69% U3O8 & 2.82% V2O5; EC2019: 2m @ 0.52% U3O8 & 2.87% V2O5; EC2022: 1m @ 0.49% U3O8 & 1.82% V2O5; and EC2001: 1m @ 0.38% U3O8 & 2.46% V2O5.
TIN said that the Bonanza workings were discovered to be more extensive than first understood while being mapped, and given the extent of the high-grade channel sample mineralisation identified at both locations, TNT is very encouraged by these results and the assays received to date.
Extension of landholdings
TNT had recently staked 31 additional contiguous unpatented lode claims to expand its landholding at East Canyon to ~18.7km2. The additional claims have also extended the interpreted mineralised uranium and vanadium strike trend by over 1km at both the None Such and Bonanza prospects respectively.
The East Canyon project claims now incorporate ~8km of outcropping Salt Wash Member which hosts the uranium and vanadium ore and where the Member is at its shallowest from surface, solidifying a very strategic land holding in a tier one jurisdiction with excellent infrastructure and a supportive policy framework.
Further prospects to be explored
The initial exploration program of mapping and sampling recently completed was focused in the northern area of the East Canyon claim holdings where the historic None Such and Bonanza mine workings are located.
The company said that None Such and Bonanza are among the multiple prospects throughout the East Canyon claims area which are highly prospective for uranium-vanadium mineralisation that is yet to be explored, including Black Hawk, Loya Ray, Big Lead, and Stateline.
Upcoming first phase drilling program
TIN said that following on from the results of the highly successful channel sampling program, it intends to undertake a first phase drilling program to better define the prospectivity of the Project. The company said that the planning and permitting of this initial drill program is already underway and is currently expected to commence in Q4 2020 following receipt of all regulatory approvals.
What’s next?
The company announced that upcoming work would include further geological mapping and sampling, underground mine mapping, and sampling. TIN said that it is also planning gamma anomaly surveying, identify potential targets for follow-up drilling, and required permit acquisition.
TNT said that it also continues to assess other mining project opportunities in tier one jurisdictions of North America and Australia that will potentially add value to all shareholders, consistent with its stated mandate for the past two years.