Power Metal Resources has announced a significant upgrade at its Perch River uranium project in Saskatchewan’s Athabasca Basin, which is held under its joint venture with Fermi Exploration.
Supplementary drill core sampling along the Rapids Fault Structure has confirmed the system is geochemically and mineralogically “fertile” for unconformity-related uranium deposits.
Power Metal believes recent samples indicate the project could host high-grade uranium.
The presence of sudoite, hydrothermal tourmaline and dolomite, combined with a 779 ppm boron hit in PR25-01 and anomalous radiogenic lead spread over a 400m strike, all point to a live hydrothermal system.
Fermi’s team believes last year’s drilling clipped only the distal, upper halo of the system, leaving the hydrothermal core and any uranium mineralisation it might host untested at depth.
ANT geophysics suggests the structure could extend more than a kilometre below the unconformity, with a secondary 4km fault to the west yet to see a drill bit.
CEO Sean Wade said the results “fundamentally upgrade” Perch River’s prospectivity, with the radiogenic lead acting as a direct vector toward potentially high-grade material at depth.