Jocelyn Aspa reports that regional drilling approximately 4.7 km northeast of Arrow has resulted in a new discovery of high-grade uranium mineralization. Discovery hole HP-16-08 intersected 17.0 m (56 feet) of continuous mineralization (220.0 to 237.0 m) or (722 ft. to 778 ft. bgs), including 4.5 m (15 feet) of off-scale radioactivity (>10,000 to >61,000 cps). This new zone has been named the Harpoon Discovery and is defined by the presence of strong visible uranium mineralization and includes dense accumulations of massive to semi-massive pitchblende mineralization.
The discovery hole was a 250 m step-out along trend to the northeast of hole HP-16-06 (also reported in this news release), which encountered 1.5 m of continuous mineralization (<500 to 2200 cps) from 303.0 to 304.5 m. The Harpoon Discovery is on land and starts at a vertical depth of approximately 210 m.
In addition, uranium occurrences between Arrow and along trend to the northeast at Harpoon have now been traced over a mineralized strike length of 5.6 km all within the Rook I property.
Harpoon Discovery Details ...
Drill hole HP-16-08 intersected 17.0 m of continuous mineralization (220.0 to 237.0 m) including 4.5 m of off-scale radioactivity (>10,000 to >61,000 cps) and dense accumulations of massive to semi-massive pitchblende with maximum radioactivity exceeding 61,000 cps.
HP-16-06 intersected 1.5 m of continuous mineralization (<500 to 2200 cps) from 303.0 to 304.5 m, and is located 250 m to the southwest of HP-16-08 towards the Arrow Deposit.
The Harpoon Discovery is located on a Rook I internal mineral disposition, which is subject to a 2% net smelter return royalty of which 1% can be repurchased by the Company for $1 million which is held by Advanced Royalty Corp. In addition, Harpoon is subject to a 10% production carried interest held by Rio Tinto Uranium Corporation, which provides Rio Tinto with a right to 10% of potential future production.
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