Nuinsco Resources Limited (TSX:NWI) announced that drill results of significant anomalous uranium mineralization at its Diabase Peninsula project in Saskatchewan’s Athabasca Basin.
As quoted in the press release:
Earlier this year, 1,900m of diamond drilling was completed in five holes in the south central portion of the Diabase Peninsula Project. The drilling targeted coincident TEM and Gravity geophysical targets near holes from earlier drilling programs which encountered highly-anomalous uranium values of up to 707ppm U (0.083% U3O8) located at or near the contact between the sandstone layer and underlying graphite-bearing basement rocks (the “Unconformity”) – the prime site for the occurrence of uranium deposits in the Athabasca Basin.
Nuinsco President, Paul Jones said:
“As noted in reporting the drilling from late 2010, uranium values exceeding 10ppm suggest the presence of an alteration zone and the distinct possibility of a lens of uranium mineralization in the immediate vicinity. Such uranium grades have been encountered in previous drilling, including this latest program, where uranium values peaked at 92ppm in hole ND1103 and uranium grades exceeding 10ppm were intersected in four of the five holes in the program.”