Formation Capital provides its shareholders with an update on its Virgin River uranium project, Athabasca Basin, Saskatchewan.
The in-fill drilling program consisted of pilot holes spaced at 50 metre intervals designed to test part of the entire known 550 metres of strike length of the Centennial Deposit. The Centennial Deposit remains open to the south while determining the specific location of its northern structural offset continues to be an exploration priority. In addition, one off cut (wedge) hole from pilot hole DDH VR-031 on section 10+50N was drilled to ascertain across strike width and further determined that potentially economic uranium grades are present along the Centennial deposit.
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