Highlights of the Rosita South uranium delineation and exploration drill programs include:
- 32 drill holes reported for a total of ~11,000 feet including 20 delineation drill holes and 12 exploration drill holes;
- The exploration drilling has identified 8 mineralized sands plus an additional 4 potentially mineralized sands, all within 800 feet of the surface, which provide opportunities for discovery of future uranium resources across the entire Rosita project
- Delineation drill results established an extension of mineralization in the Production Area which supports the start-up of the Rosita Plant expected next year.
To view the project map and geologic section: https://bit.ly/3NXX1Fl.
"We are pleased with the initial results from the on-going drill programs which have been designed to expand known mineralization at Rosita South and explore for new deposits at depth. The results indicate enhanced potential for further uranium mineralization not only from the previously known shallow deposits but more importantly the virtually untested numerous stacked mineralized sands underlying the licensed production area," said
Twenty drill holes for a total of 4,030 feet were designed to in-fill and confirm known mineralization at Rosita South. The current drilling has extended uranium mineralization over 300 feet laterally beyond the previously known limits of ISR amenable uranium mineralization.
Drill Hole | Sand | Grade | Thickness | Grade Thickness |
SRC-22-4 | UA-(upper-A) | 0.04 | 6.0 | 0.240 |
SRC-22-14 | UA | 0.087 | 6.5 | 0.563 |
SRC-22-17 | LA-(lower-A) | 0.209 | 5.0 | 1.046 |
SRC-22-18 | UA-& | 0.069 | 7.0 | 0.485 |
SRC-22-19 | LA | 0.089 | 4.5 | 0.399 |
All intercepts are between 117 and 145 feet below surface in saturated sands (required for ISR). The water table is |
*Grade Thickness, or GT, is defined as the product of the mineral grade (at the .02% U3O8 cutoff) multiplied by the |
Twelve deeper exploration holes, totaling 7,380 feet, were designed to test for uranium bearing sands below the known shallow mineralized sands at Rosita South. The success of this exploration program has been made possible through the recently acquired access to more than 1,500 drill logs and historical geological data from
The evaluation of this newly-acquired data led to the 12 drill holes which intercepted highly anomalous down-hole gamma radiation indicative of uranium mineralization from 8 mineralized sands and an additional 4 potentially mineralized sands within the
enCore's
The Company also advises it has appointed
All drill holes are 5.625 inch diameter rotary-mud holes. Each hole is logged with electrical and gamma methods upon completion. Any anomalous gamma readings are followed up with Prompt Fission Neutron (PFN) surveys which provide direct and accurate in-situ uranium values eliminating any concerns over disequilibrium. The Company owns and operates 2 logging trucks and 5 PFN tools.
Many uranium deposits have a degree of disequilibrium, whereby the radioactivity measured in drill holes using traditional gamma methods does not accurately correspond to ore grade, due to the continued decay of uranium daughter products including potassium, thorium, lead and bismuth relative to radium (Ra226), a significant gamma emitter. Traditionally, accurate uranium values are determined by chemical assay of drill core which is time consuming and expensive.
Without accurate uranium values, the potential to make inaccurate estimates of mineralization on both the high and low side is ever present. PFN analysis is instantaneous and accurate eliminating potential errors by using neutron activation to directly detect and quantify uranium content in place down the drill hole.
The PFN tool creates very fast neutrons (14MeV) and fires 108 neutrons per second. Therefore, the neutrons emitted by the PFN tool excite, at an atomic level, in-situ uranium atoms in the drill hole, creating fast (epithermal) neutrons and slow (thermal) neutrons. The ratio of epithermal to thermal neutrons is proportional to uranium, allowing the U3O8 ore grade to be accurately calculated. This provides a relatively inexpensive and instantaneous means for accurate assaying in-situ ore grades over large areas, and allows for accurate ore body mapping, resource estimation, and wellfield planning.
enCore Energy is rapidly advancing towards becoming the next producer of American uranium. With approximately 90 million pounds of U3O8 estimated in the measured and indicated categories and 9 million pounds of U3O8 estimated in the inferred category1, enCore is the most diversified in-situ recovery uranium development company in
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1 | Mineral resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as company websites at www.encoreuranium.com. |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the intended use of the net proceeds of the Offering and the completion of any capital project or property acquisitions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; inability to access additional capital; the ability of enCore to implement its business strategies; and other risks. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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