Pioneer Minerals (ASX:PMM) has this morning confirmed there’s high-grade surface uranium mineralisation at the Skull Creek project after running a successful soil geochemistry program in north-west Colorado.
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The Australian company is now preparing for a maiden drilling program there after it identified mineralisation of up to 4,257 parts per million (ppm) of the uranium compound triuranium octoxide (U3O8).
CEO Michael Beven said the company is now on the path to drilling at the project, with the study also outlining extensive, coherent multi-element uranium pathfinder anomalies across both the Western and Eastern blocks.
“The confirmation of surface grades exceeding 4,000 ppm U3O8 together with strong concealed soil anomalism, represents a significant step forward for Skull Creek,” he said.
Mr Beven added: “The combination of high-grade surface mineralisation and widespread multi-element soil anomalies gives me confidence that we may be vectoring towards a larger concealed uranium system.”
Pioneer is now in the process of seeking approval to drill priority targets in initial scout drilling. “With coherent targets now defined across multiple blocks, particularly in areas with limited or no surface exposure, we are well positioned to advance to drill permitting and begin systematically testing the most prospective zones.”
Geochemistry testing at the Western block suggested a significant soil anomalism directly over and extending beyond high-grade rock chip locations into covered areas, defining priority concealed drill targets.
At the Eastern block, a widespread coherent soil anomalism was identified across largely concealed terrain, indicating potential blind sandstone-hosted uranium mineralisation.
Mr Beven said the Western block represents the highest-priority drill target area. “It hosts the highest-grade chip results, including 4,256.9 ppm U3O8 and 1,462.2 ppm U3O8 and displays strong composite soil anomalism extending into ground obscured by cover where no outcrop occurs,” he said.
He continued: “This area is interpreted to represent a potential down-dip or along-strike extension of mineralisation beneath soil cover.”
Initial drilling is planned to test down-dip Sego sandstone horizons beneath soil cover, stratigraphic contacts between sandstone and carbonaceous units and zones of highest composite anomaly ranking.
PMM will today open at 16.5¢. Mkt cap $11.51M.
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