(MENAFN- ProactiveInvestors)
() continues to ride the wave of improved uranium sector sentiment as its 29 holes for 3154 metres of drilling at its Deliler prospect within the Sefaatli Uranium Project in Turkey all found good uranium mineralisation.
Drilling also identified higher grade zones. As a result of the results from Sefaatli the project may be developed as a satellite operation to feed into the advanced Temrezli ISR Uranium Project.
Better intercepts at Deliler prospect from the drilling included 1.2 metres at 740ppm uranium from 75.7 metres 2.8 metres at 330ppm uranium from 77.8 metres 5.1 metres at 260ppm from 72 metres and 2.2 metres at 300ppm from 35.9 metres.
Uranium companies share prices have soared after Japanese utility Kyushu Electric Power Company received final local approval to restart its Sendai nuclear plant in northern Japan.
This sent the price of uranium up 4.3% to US$36.75 last week the biggest gain since March 2011.
Phase 1 drilling is continuing at Deliler and drilling operations have now also commenced at the Tulu Tepe prospect some 3 kilometres to the southwest.
Drilling is expected to continue for another 4 weeks and Phase 1 results will then be assessed to determine a follow on Phase 2 program likely to commence in Q1 2015.
Deliler drilling focussed on the eastern side of the prospect where all holes drilled intersected uranium mineralisation.
Most drill holes intersected two or more lenses and one hole up to 5 stacked lenses and there is a consistently mineralised horizon.
This horizon appears open to the west east and south and in the north interpreted as terminating against a cross-cutting fault.
To date there has been no drilling along strike immediately north of the fault although 5 drill holes to west of the main line of mineralisation and north of the fault intersected mineralisation but at a different elevation.
The company’s second rig has moved from Deliler and is now drilling the first hole at the Tulu Tepe prospect.
In order to best understand the prospect’s stratigraphy this hole will be drilled to granite basement. Tulu Tepe has 26 holes planned for a drill advance of 3400 metres.
Based on the strength of the high grade uranium intersected by our first hole into the fault zone the program will continue testing on the northern side of this fault.
The flagship Temrezli Uranium Project continues to make strides where work includes advanced mineral resource metallurgical and hydrological studies as well as environmental and social impact assessments that will be incorporated into a Pre-Feasibility Study.
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