Drilling returns up to 0.27% U3O8 at the Geikie project in Athabasca Basin
Elevated lead isotope anomalies and extensive hydrothermal alteration indicates potential for ‘major uranium mineralising system’
Results from airborne gradient gravity survey to help targeting for Phase 2 drilling
Uranium is now up past the US$70/lb price point Maiden drilling at Basin’s Geikie project in Saskatchewan, Canada, has intersected anomalous uranium in four of the eight holes with other data indicating that a major mineralising system might be present. The company couldn’t have timed the discovery any better as prices surge, with Numerco noting the U3O8 – or yellowcake – is currently commanding US$71.00/lb.Sprott Asset Management added that the uptrend in uranium price underscores the sector’s strengthening fundamentals and signals that future supply will hinge on the revival of dormant mines and the inception of new mining projects.And providing new supply is exactly what Basin Energy (ASX:BSN) […]
Click here to view original web page at www.msn.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments