COLORADO, USA - Moab Minerals Limited (ASX:MOM) ("Moab" or the "Company") is delighted to announce the initiation of a three-hole NQ core drill program at its REX uranium-vanadium project in Colorado, USA. The drill rig has commenced testing the eastwards extension of known mineralised zones from historical workings at Faery Queen and the 45-90 mine.
The initial drill program will comprise three holes, each averaging 400ft (120m) deep. Carnotite mineralisation is anticipated at shallow depths in sandstone lenses in the Salt Wash Sandstone member. Notably, the base of the Salt Wash Sandstone has never been drill tested, and this program will be the inaugural drill-test of the full thickness of this prospective sandstone unit.
The Company has gained approval for the drill program after submitting a Notice of Intent (NOI) to the Colorado Division of Reclamation (DRMS) and the Bureau of Land Management (BLM). The drilling activities are set to take place in spring 2023. While Moab is still awaiting approval for the full scope of the 21-hole drill program, it has successfully completed comprehensive baseline environmental studies, which are a crucial element to the drill permit application and ongoing exploration.
Moab's Managing Director, Mr Malcolm Day, expressed his enthusiasm about the project, stating, "We are thrilled to have commenced a drill program in the highly prospective northeastern part of the property, which we anticipate will reveal the eastward continuation of the uranium-vanadium mineralisation that was historically mined at Faery Queen and 45-90 mines."
The initial 3-hole drill program currently underway will involve drilling at sites 7, 8 and 11. Moab holds a 60% interest in the REX URANIUM-VANADIUM PROJECT, with Sunrise, a 60% owned subsidiary of Moab, holding the remainder.
Historically, district-wide drilling by USGS in the Uravan Mineral Belt 1955-1965 determined that the largest deposits of U-V mineralisation were found as lenticular concentrations in sandstone hosted in thicker (>10m) sandstone units. The uranium mineralisation occurs at the base of the Lower Cretaceous Brushy Basin shale and in sandstone lenses in the Salt Wash Sandstone below the shale. The stratigraphy is flat lying to very gently dipping. The dominant uranium-vanadium mineral is carnotite K2(UO2)2V2O8•3(H2O), which has a bright yellow colour and is radioactive.
Moab Minerals Limited is dedicated to the responsible and sustainable exploration of mineral resources and is excited about the potential discoveries at the REX uranium-vanadium project.
Moab Minerals Limited (ASX:MOM) is a leading mining and exploration company focusing on the discovery and development of uranium and vanadium resources. For more information, please visit www.moabminerals.com.