North Shore Uranium Ltd. (TSXV:NSU; OTCQB:NSURF) has reported uranium mineralization in each of the 13 holes drilled during Phase 1 of its first programme at the Rio Puerco project in northwestern New Mexico. The company said the results are intended to help assess historical exploration data from the Grants Uranium District.
#Phase 1 drilling results
The rotary drilling campaign covered 13 holes and 9,274 ft. (2,828 m). Using a cutoff of 0.02% eU3O8 and a minimum grade x thickness of 0.30, North Shore identified 21 uranium intercepts.
Reported highlights included:
- RP-26-18-39: 27.0 ft at 0.30% eU3O8
- RP-26-18-640: 12.5 ft at 0.33% eU3O8
- RP-26-18-25: 13.0 ft at 0.13% eU3O8
- RP-26-18-233: 7.0 ft at 0.17% eU3O8
- RP-26-18-510: 10.5 ft at 0.11% eU3O8
- RP-26-18-512: 13.0 ft at 0.09% eU3O8
- RP-26-18-691: 16.0 ft at 0.07% eU3O8
#Geology and ISR evaluation
North Shore said the mineralization was found in sandstone units that host 95% of the contained eU3O8 in the Rio Puerco Historical Resource. The company also reported that the 21 intercepts were below the water table, a characteristic it considers relevant to evaluating in-situ-recovery (ISR) mining.
The company linked most of the mineralization to three stacked sandstone units in the Westwater Canyon member of the Jurassic-aged Morrison Formation. Mineralization was also identified in the Jackpile Sandstone, which North Shore describes as a separate exploration target.
#Grade estimation and data limitations
The reported eU3O8 figures are equivalent uranium grades derived from calibrated downhole gamma logging. They have not been verified by chemical assays, and North Shore stated that actual uranium grades may differ from the estimates.
At each drill site, the company used a 5.75 inch vertical mud rotary hole. Following completion of each hole, Century Geophysical Corporation completed a downhole geophysical survey using a calibrated multi-parameter logging tool. The reported intersections are assumed to represent true widths because the holes were vertical and the interpreted sandstone layers were horizontal.
#Historical resource context
A 2009 historical estimate for Rio Puerco reported 6.0 million tonnes at an average grade of 0.09% eU3O8 for 11.4 million pounds of U3O8. The estimate was based on historical drilling and was classified by North Shore as a Historical Resource.
North Shore stated that the estimate has not been verified, is not current and does not comply with Canadian National Instrument 43-101 requirements for reporting Mineral Resources. A Qualified Person has not verified the estimate for the company, which said it does not treat the Historical Resource as current.
The Phase 1 holes were positioned near historical Kerr-McGee drill sites to compare new results with earlier exploration data. North Shore said the programme confirmed mineralization in zones corresponding to those identified by Kerr-McGee. The company is working toward defining a first NI 43-101-compliant uranium resource at Rio Puerco, but stated that there is no guarantee its planned work programmes will result in such a resource.
#Planned Phase 2 work and project interest
North Shore intends to conduct Phase 2 drilling in Q4 2026. Upon completion of the Phase 2 programme, the company will work towards finalising geological and resource models based on the historical data and incorporating information generated by North Shore.
The 83 Bureau of Land Management claims forming the project are subject to the Rio Puerco Option Agreement. Under that agreement, North Shore has the right to acquire up to an 87.5% interest in Rio Puerco from Resurrection Mining LLC. The interest has not been stated as acquired.
#Key Takeaways
- North Shore reported uranium mineralization in all 13 Phase 1 drill holes at Rio Puerco.
- The programme produced 21 reported intercepts, including RP-26-18-39 at 27.0 ft at 0.30% eU3O8.
- All 21 intercepts were below the water table, which the company identified as relevant to ISR evaluation.
- The eU3O8 grades came from downhole gamma logging and have not been verified by chemical assays.
- North Shore intends to conduct Phase 2 drilling in Q4 2026, while the historical resource remains unverified and non-current.
#What did North Shore Uranium Ltd. report from Phase 1 drilling at Rio Puerco?
North Shore Uranium reported that uranium mineralization was intersected in all 13 Phase 1 drill holes, using a cutoff of 0.02% eU3O8 and a minimum grade x thickness of 0.30. The programme comprised 13 rotary drill holes totalling 9,274 ft. (2,828 m).
#What were the highlighted drill intersections?
The reported highlights were RP-26-18-39: 27.0 ft at 0.30% eU3O8; RP-26-18-640: 12.5 ft at 0.33% eU3O8; RP-26-18-25: 13.0 ft at 0.13% eU3O8; RP-26-18-233: 7.0 ft at 0.17% eU3O8; RP-26-18-510: 10.5 ft at 0.11% eU3O8; RP-26-18-512: 13.0 ft at 0.09% eU3O8; and RP-26-18-691: 16.0 ft at 0.07% eU3O8.
#How were the uranium grades estimated and what limitations apply?
The eU3O8 values were equivalent uranium grades derived from calibrated downhole gamma logging. The results had not been verified by chemical assays, and North Shore stated that actual uranium grades may vary from the eU3O8 estimates. The reported intersections were assumed to be true widths because the holes were vertical and the interpreted sandstone layers were horizontal.
#What geological characteristics did the company report?
North Shore reported that the mineralization occurred in sandstone units hosting 95% of the contained eU3O8 in the Rio Puerco Historical Resource. All 21 uranium intercepts were below the water table, which the company described as a favourable characteristic when evaluating ISR mining. Mineralization was also confirmed in three separate sandstone units hosting over 95% of the Historical Resource.
#What is the status of the Rio Puerco Historical Resource?
A 2009 historical estimate reported 6.0 million tonnes at an average grade of 0.09% eU3O8 for 11.4 million pounds of U3O8. North Shore stated that the estimate has not been verified, is not current and does not comply with Canadian National Instrument 43-101 guidelines for reporting Mineral Resources. A Qualified Person has not verified the estimate for the company, and North Shore does not treat it as current.
#What work is planned after Phase 1?
North Shore intends to conduct a Phase 2 drilling programme in Q4 2026. The company stated that the Phase 1 and Phase 2 results are intended to support validation of historical exploration data and potential future technical work, including a resource estimate. North Shore also stated that there is no guarantee that the planned work programmes will ultimately result in the definition of NI 43-101-compliant resources.
#Where is North Shore Uranium Ltd. listed?
The company is identified as listed on TSXV:NSU and OTCQB:NSURF. North Shore also has the right to acquire up to an 87.5% interest in Rio Puerco under an option agreement with Resurrection Mining LLC. The source does not state that the full interest has been acquired.
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