An initial drill program on the Sand Creek joint venture ground in Converse Cty., Wyo., has returned a number of intercepts of uranium mineralization.
Privately held New Horizon Uranium, with a 49% interest, is operating the project on behalf of joint-venture partners Canyon Resources (CAU-X), with 21%, and Energy Metals (EMC-T), 30%.
The initial campaign of drilling amounted to 14 rotary drill holes on the Scott Ranch prospect. The holes tested a stirike length of about 1.5 miles on five fences, testing Tertiary-age sedimentary rocks of the White River formation.
The Crow Butte in situ leach mine in Nebraska, owned by Cameco (CCO-T, CCJ-N), exploits the same formation, and the prospects on the joint venture ground are seen as in situ leach targets.
The results largely confirmed drilling by French oil company Aquitaine in the 1980s. Most intersections were 1.5 to 4 ft. wide, showing uranium grades between 0.01% and 0.04% U3O8.
Hole SR06-1 encountered one of the best zones, cutting 10.5 ft. that averaged 0.066% U3O8, including a 2-ft. zone that ran 0.146%. Another intersection in hole SR06-2 ran 0.054% U3O8 over 12 ft., with a 4-ft. interval that graded 0.093%.
Drilling on the project, east of Casper, Wyo., is scheduled to resume shortly.
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