Terra Uranium (ASX: T92) has completed its maiden field operations at the Spire and Horizon projects in Canada under an option agreement with Canadian miner ATHA Energy.
The work confirmed anomalous boulder trains with values of up to 1,000 counts per second and prospecting up the ice-flow direction helped narrow airborne geophysical targets.
Previous boulder train sampling at Horizon included results between 6,034 parts per million uranium (0.71% uranium oxide) and 30,000ppm uranium (3.53% uranium oxide) in the up-ice direction on the project area.
The company appointed Axiom Exploration to conduct the work and scout new infrastructure and claim access for an upcoming drilling program in the new year.
Ground reconnaissance on three western Spire claims focused on basement-hosted near-surface deposits along prominent structural corridors.
Terra is now planning a follow-up spring program after snow cover has cleared to utilise Wollaston Lake Road, which is currently under construction and will provide year-round access.
The two-year, government-funded infrastructure project will connect the community of Wollaston Lake to the rest of Saskatchewan by permanent access for the first time, eliminating reliance on barge or ice road for supplies.
The Spire and Horizon projects comprise 12 mineral claims totalling 610 square kilometres on the eastern rim of the prolific Athabasca Basin within the Needle Fall Shear Zone.
The projects were first explored in 1963 for zinc and silver, with the last known work – including lake sediment sampling and scintillometer-driven prospecting and soil sampling – completed in 1980 by Marline Oil.
Terra secured a definitive agreement and potential joint venture deal with ATHA in August, allowing for a shared equity arrangement in uranium exploration projects within the Athabasca Basin.
Under the terms of the deal, Terra will grant ATHA a series of options to acquire up to 60% of its Pasfield Lake development near Saskatchewan, with ATHA in return granting Terra an option to acquire up to 70% of Spire and Horizon, where it is fast-tracking exploration on shallower uranium targets.
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