- Basin Uranium (NCLR) has received permits to conduct drilling on the Wray Mesa Project
- Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for most of the production in the district
- Mineralization on the property occurs at depths of 152 metres to 228 metres, with the drill-defined mineralization ranging from 7.5 to 22 metres in thickness
- Basin Uranium Corp. (NCLR) is up 6.25 per cent, trading at C$0.17 per share as of 11:45 am ET
Basin Uranium (NCLR) has received permits to conduct drilling on the Wray Mesa Project.
The Wray Mesa project, located in San Juan County, Utah, consists of 308 unpatented lode claims totalling 25.4 sq. km. of wholly-owned and optioned claims contiguous to and adjoining Energy Fuel’s (NYSE:UUUU) fully-permitted and production-ready La Sal project, which includes a number past-producing uranium and vanadium mines.
Drilling will initially focus on 49 holes permitted between two mineralized areas, including drill road access and site preparation. Basin is in the final stages of preparing for the upcoming drill program.
Uranium and vanadium production in the district dates back to the early 1900s, while historical work dates back to Atlas Minerals and Pioneer Uravan from 1976 to 1983, who drilled a total of 495 exploration holes, and Homeland Uranium in 2007-2008, who drilled 15 holes.
Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for the majority of production in the district.
Mineralization on the property occurs at depths of 152 metres to 228 metres, with the drill-defined mineralization ranging from 7.5 to 22 metres in thickness.
Basin CEO Mike Blady commented that with its drilling permits in hand, the team is ready to move towards the start of exploration at Wray Mesa.
“The Wray Mesa project has been extensively drilled historically, with 495 holes drilled since the early 1970s, resulting in the definition of a number of mineralized bodies, which will be the focus of the upcoming drill program. The project also represents a unique opportunity to advance a brownfields project in one of the premier energy metal jurisdictions in the United States. It is very complementary to our ongoing exploration in the Athabasca Basin.”
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company owns the Wray Mesa project in Utah, which has seen significant historic uranium and vanadium exploration.
Basin Uranium Corp. (NCLR) is up 6.25 per cent, trading at C$0.17 per share as of 11:45 am ET.
