Power Metal Resources plc’s uranium joint venture has identified three “high priority” targets for pegmatite and uranium mineralisation at the Reitenbach property in the Athabasca Basin, Saskatchewan, Canada.
STRATEGY
The portfolio of uranium licences is held under Fermi Exploration Ltd with 70% owner UCAM Ltd.
Delineated from 2024-25 soil and radon sampling, the targets cover a combined 100 hectares, with results “consistent with a ribbon-type anomaly”.
Sampling focused on three areas of Nuphar North, Nuphar South and Goodleap which showed moderate, high and elevated radon values, respectively.
The company described the three targets as “encouraging” but said it needed to find further targets to justify a drilling programme.
“Given the logistical challenges and costs associated with helicopter-supported drilling, the company’s strategy is to continue refining and expanding targets on Reitenbach to ensure that any future drilling program is both technically robust and capital efficient,” added Power Metal.
Reitenbach hosts four further, largely untested boulder fields and has “significant” scope to determine similar targets.
Chief executive officer Sean Wade added: “The radon and ionic leach programmes at Reitenbach have provided a useful layer of additional geological information in an area where conventional surface exploration is limited.
“This work has contributed further ranked targets to the company’s wider exploration portfolio, supplementing the two high-impact upcoming drill campaigns on other projects.”