92 Energy (92E) has intersected elevated radioactivity in the first three drill holes at the Gemini Mineralised Zone (GMZ) within the Gemini uranium project in Canada.
The company began its winter 2022 drilling program in January to test the extent of uranium mineralisation at the project, with a particular focus on the GMZ discovery which was made in September last year.
The Gemini Project is located 27 kilometres southeast of the McArthur River uranium mine which is one of the largest and highest-grade uranium deposits in the world.
So far, the company has completed four holes at the GMZ, with all four (including the initial discovery hole GEM-004) intersecting elevated radioactivity.
Holes GEM22-005, GEM22-006 and GEM22-008 all intersected elevated radioactivity, which has now been defined over an 84-metre length across strike.
According to the company, the most ‘intense’ radioactivity encountered in the winter 2022 program was found in GEM22-006, which cut 14 metres of composite elevated radioactivity with a maximum reading of 2230 counts per second (cps) on a handheld RS-121 scintillometer.
The energy stock said all four completed holes in this program are associated with a strong and broad zone of clay, hematite and quartz alteration, with common fault breccias and other structures.
92 Energy’s drilling program is ongoing at the Gemini Project with 5500 metres of drilling still to be completed.
Company shares were up 4.81 per cent to trade at 54.5 cents at 12:45 pm AEDT.
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