- Labrador Uranium (LUR) provided an update on its ongoing exploration and machine learning programs within its CMB property
- The inaugural program includes a drill campaign and bedrock mapping program along the 20 km Moran Lake Trend
- The goal of the current drilling program is to both test the extent of the known historical uranium deposits/resources and zero in on conceptual uranium and IOCG (Iron Oxide Copper-Gold) targets
- Labrador Uranium Inc. (LUR) is up 5 per cent, trading at $0.42 per share at 4 pm ET
Labrador Uranium (LUR) provided an update on its ongoing exploration and machine learning programs within its CMB property.
The inaugural program includes a drill campaign and bedrock mapping program along the 20 km Moran Lake Trend. The goal of the current drilling program is to both test the extent of the known historical uranium deposits/resources and zero in on conceptual uranium and IOCG (Iron Oxide Copper-Gold) targets.
The property is located in the Central Mineral Belt in Central Labrador, Canada.
The first holes of the current drill program have intersected probable extensions of uranium-bearing structural corridors. Two zones of characteristic alteration and anomalous radioactivity ranging from 10 to 30 metres downhole intersected in hole ML-200, extending known mineralization downdip and possibly identifying new uranium-bearing, high-angle structures.
Labrador Uranium CEO Stephen Keith said this exploration program is progressing well as the team advances its understanding of the Moran Lake project and yield results, leading to specific drill targets. Drilling and sampling data continue to be added for mineral resource modelling and to potentially extend the limits of known mineralization while developing possible new targets through machine learning, an iterative process.
“Additionally, we have started preparing to revive exploration at Mustang Lake, which we believe is located along strike from Paladin Energy’s Michelin deposit. We look forward to continuing to methodically advance our exploration efforts on our extensive land package with a modern approach to understanding 50 years of exploration data. With a strong balance sheet, we are fully funded for exploration into next year. We are excited to generate new projects within the CMB and hopefully be in a position to delineate mineral resources in the ground. The LUR team and I would like to personally thank our shareholders for their support during these exciting times as energy supply issues become more critical.”
The interpretations derived from the 2022 drill program will be fed into LUR’s ongoing geomechanical modelling and machine learning programs to help the Company identify possible new Uranium and IOCG targets.
Labrador Uranium (LUR) is engaged in the exploration and development of uranium projects in Labrador. The company has acquired the Moran Lake and CMB Projects in the prolific Central Mineral Belt (CMB) in central Labrador and the Notakwanon Project in northern Labrador.
Labrador Uranium Inc. (LUR) is up 5 per cent, trading at $0.42 per share at 4 pm ET.
