Uvre Limited (ASX:UVA) reports that a maiden phase one drill program has started at the 100% owned East Canyon Uranium-Vanadium Project, located in south-eastern Utah, US.
Uvre notes that a diamond core drilling rig is already on site with drilling initially at the None Such prospect, to be followed by drilling at the Bonanza prospect.
Up to 50 drillholes are permitted at East Canyon and the program currently proposes 50 diamond core holes for a total of up to 2,500m across the two prospects. However, Uvre reports that the total number of holes drilled may be based upon results observed and obtained as drilling proceeds.
Uvre reports that its team is motivated to advance the asset rapidly as the uranium resurgence and search for critical minerals across the globe intensifies.
The East Canyon project is ‘highly prospective’ for uranium and vanadium, strategically located in close proximity to established mining operations and infrastructure.
The drill program is targeting shallow mineralisation, with average depth of holes to be 50m, to follow up previous exploration work where samples were collected from within and around historical workings at both prospects, which assayed as high as 1.27% U3O8 and 9.21% V2O5.
“This represents a significant milestone for the company”
Commenting on the works program, Uvre Managing Director Pete Woods said: “This represents a significant milestone for the company and we are excited to commence the maiden drill program at the East Canyon project less than 2 months since listing on the ASX.
The program will test extensions of the visual high-grade uranium and vanadium observed and sampled from within the historical workings at a shallow depth from surface.
Diamond core drilling will allow for early metallurgical test work to be carried out, further shoring up the potential of this strategic project.”
The drill program is anticipated to be completed in Q4 CY2022.
The East Canyon Project comprises 231 contiguous claims (18.7km-square) prospective for uranium and vanadium in the Dry Valley/East Canyon mining district of south-eastern Utah.
The Uravan Mineral Belt and surrounding Salt Wash ore producing districts of the Colorado Plateau, which hosts the claims, has been an important source of uranium and vanadium in the US for more than 100 years.
The region has historic production of more an 85M pounds of uranium at an average grade of more than 0.13% U3O8 and more than 440M pounds of vanadium at an average grade of 1.25% V2O5.
Images: Uvre Limited
