- Power Metal Resources
- 18 June 2025 14:14:01
Source: Sharecast
A 2,400-metre diamond drilling campaign was planned to start later in the summer, pending permits.
The AIM-traded company said the exploration campaign included electromagnetic and magnetic surveys, ambient noise tomography (ANT), and geochemical sampling, which collectively identified a prominent conductive feature termed the ‘S-Zone’.
That zone lay at the unconformity between two major fault structures, a setting commonly associated with high-grade uranium mineralisation in the region.
Power Metal said the S-Zone differed from traditional graphitic conductors targeted in the basin, instead representing a structurally complex and shallowly buried target with coincident uranium, nickel, and cobalt anomalies at surface.
Those characteristics aligned with known deposit models at McArthur River, Phoenix and Millennium.
“The S-Zone is a highly exciting target on the Badger Lake Uranium Property,” said chief executive officer Sean Wade.
“This summer, Fermi Exploration will launch five high-impact drill programmes across our uranium portfolio.
“With the drill to begin turning in a matter of days, I look forward to providing further updates on the drilling timeline in due course.”
The proposed drill programme would include five to six holes, ranging from 350 to 600 metres in depth, aimed at testing the conductive zone and surrounding fault structures.
A gravity survey was also planned to refine targeting.
The work formed part of Power Metal’s broader push across its uranium assets in the Athabasca Basin, with drill activity expected to ramp up in the coming weeks.
At 1310 BST, shares in Power Metal Resources were up 0.4% at 12.55p.
Reporting by Josh White for Sharecast.com.