ATHA Energy identifies more than 100km of prospective conductors in MMT survey over Angilak uranium project

Canadian mineral company ATHA Energy Corp (TSX-V: SASK) has identified more than 100 kilometres of cumulative prospective conductors through an airborne mobile magnetotellurics (MMT) survey at its wholly-owned Angilak uranium project in Canada.

Completed in September over the northern half of the project, the survey totalled 5946 line kilometres and represented approximately 85% of the total Angilak acreage inclusive of the historic Lac 48, 50, 52, and 54 mineralised trends (collectively known as the Lac 50 deposit), as well as the eastern, western and northern margins of the Angikuni Basin.

Results confirmed the depth extent of prospective conductive horizons which host uranium mineralisation at Lac 50 and at the nearby Nine Iron Discovery and demonstrated the potential for mineralisation to extend beyond the current envelope.

New conductive zone

Along the western margin trend (WMT) of the Angikuni Basin, a 25km zone with greater conductivity than Lac 50 and Nine Iron was identified, demonstrating that the trend shows similarities with typical Athabasca Basin unconformity-style deposits and is coincidental with numerous historic uranium showings in the area such as the Rib and Yat discoveries.

Drilling of 30 holes at Rib in the late 1970s by Noranda Exploration Company intersected Athabasca Basin-style unconformity alteration, structure and lithologies associated with shallow uranium mineralisation with grades of up to 5.6% hosted within graphitic mylonites.

When coupled with the MMT survey results at Rib — located along the WMT and 30km southwest of Lac 50 — the scale and potential of the WMT to host multiple additional unconformity and basement-type uranium mineralised zones is believed to be high.

The MMT survey also demonstrated that the prospective conductive horizon along the WMT extends from surface to depths of more than 1km, within and along the margins of the Angikuni Basin.

Exploration target model

Lac 50 has a baseline 2024 exploration target model ranging between 60.8 million pounds and 98.2Mlbs uranium grading between 0.37% and 0.48%.

ATHA said the model was restricted to drill results with a maximum modelled depth extent of 500m.

Results from the MMT survey demonstrate the prospective conductive horizons which host mineralisation extend to depths greater than 1km and significantly increase the prospectivity of the mineralised envelope.

At Nine Iron — approximately 5.5km southeast of Lac 50 along the WMT — five diamond drill holes intersected uranium mineralisation with grades of up to 1.25%.

While drilling had a maximum depth of 150m, the MMT survey results indicated the prospective conductive horizons extend from surface to more than 800m depth.

Unlocking potential

ATHA chief executive officer Troy Boisjoli said the MMT survey results would help unlock the full potential of Angilak and the Angikuni Basin as a whole.

“The confirmation of down-dip conductive horizons at Lac 50 and Nine Iron, along with the newly-identified 25km conductive trend along the western margin of Angikuni, underscores the immense scale and prospectivity of this project,” he said.

“These findings reinforce our belief that Angilak has the potential to emerge as one of the most significant uranium districts globally and we are excited to continue defining the potential of this project.”