U3O8 advances drilling in Guyana

U3O8 Corp. (UWE-V, UTREF-O) has begun the third phase of drilling at its Aricheng South uranium deposit in Guyana with hopes that there’s enough mineralization to warrant a resource estimate.

The company has drilled 2,800 metres in less than a year. During phase two, U3O8 Corp. drilled 16 holes totalling 2,066 metres about 25 metres apart, with a focus of extending mineralization along strike.

Hole ARS-010 returned 25.2 metres (true width) grading 0.12% U3O8 and hole ARS-012 returned 10.3 metres (true width) grading 0.21% U3O8, including 4.9 metres grading 0.356% U3O8 (It was noted that for the latter hole, over-limit assays on samples with values greater than 0.4% U3O8 are pending).

Mineralization at Aricheng South occurs in two sub-parallel east-west- trending fault-breccia zones — the principal and secondary zones.

The principal structure has a strike length of 270 metres and extends to a depth of about 95 metres. It dips about 58 to the north and mineralization varies in width from 4 to 29 metres.

The secondary zone is located 60 metres south of the principal zone. It has been traced for 130 metres along strike, where bore holes that were drilled to intersect the principal structure penetrated deeply enough to cut the secondary zone.

In January, the company began a 5,000-metre drill program, which should be finished by April. Drill grades will be used to determine whether a resource estimate should be done on the property.

The property was explored by Cogema, a subsidiary of Areva (ARVCF-O), about 25 years ago, but surviving records do not include drill results.

Aricheng South is a part of the company’s Permit A licence and also includes the Aricheng West and North targets.

Adjacent to Permit A, U3O8 is also exploring Permit B, an unconformity- type geological model covering the shallow eastern perimeter of the Roraima basin.