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Moab Minerals Commences Drill Program at REX Uranium-Vanadium Project

3 July 2023 11:37
ASX: MOM
Moab Minerals has begun drilling at the REX uranium-vanadium project in Colorado, aiming to extend known mineralised zones and discover new uranium-vanadium deposits through a three-hole NQ core drill program.

Moab Minerals Limited (ASX:MOM) has commenced drilling at its REX Uranium-Vanadium Project in Colorado, USA, with a three-hole NQ core drill program targeting the eastward extension of mineralised zones previously identified at Faery Queen and the 45-90 Mine, reflecting Moab’s commitment to tap into new uranium and vanadium resources in this promising region.

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Figure 1: Planned drill holes; initial program to be in the Faery Queen extension area. Sunrise is a 60% owned subsidiary of Moab.

Exploring the Mineralised Zones

The initial drill program, averaging 400 feet (120 meters) in depth, will target specific sites within the Faery Queen extension area, namely sites 7, 8, and 11. The presence of carnotite mineralization, expected at shallow depths in sandstone lenses within the Salt Wash Sandstone member, provides a promising indication for the potential of uranium and vanadium deposits.

To conduct the exploration, Moab is employing the NQ coring method, which enables precise sampling of mineralised zones for assay. Additionally, all drill holes will undergo logging using the eU308 down-hole gamma logging method on one-foot intervals, providing rapid turnaround of eU308% results.

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Figure 2: Drill rig on-site (site #7) at REX Project

Untapped Potential

The REX Uranium-Vanadium Project located in the famed Uravan Mineral Belt of Colorado is 60% owned by Moab and contains many historic uranium mines including, Blackfoot/Rattlesnake, Wedge, Merry Widow, Sunbeam and Vanadium King that have not been subject to exploration since the 1970’s, other than initial sampling by Moab.

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Figure 3: Location of REX Project in Uravan Uranium Belt of Colorado

The ongoing drill program at REX holds great promise for Moab as it aims to unlock untapped mineral resources in the region. The exploration of the base of the Salt Wash Sandstone, never before drill-tested, is of particular interest as it represents the first attempt to assess the full thickness of the sandstone unit.

Historical data from district-wide drilling in the Uravan Uranium Belt reinforces the significance of lenticular concentrations within thick sandstone units, often associated with organic debris, as a primary exploration guide for identifying mineral deposits in the area.

Future Prospects

While the current drill program is limited to three holes, Moab Minerals has a comprehensive 21-hole drill program in mind, pending approval of its Waste Water Management Plan. The Company anticipates that this expanded program will provide further insights into the mineral potential of the REX Project.

Moab’s Managing Director, Mr. Malcolm Day, expressed enthusiasm for the drill program’s commencement, stating, “We are pleased to have commenced a drill program in the highly prospective northeastern part of the property, looking for the eastward continuation of the uranium-vanadium mineralization that was historically mined at Faery Queen and 45-90 Mines.”

MOM’s Australian Stock Exchange-listed share price is currently trading at 1.3c (11.15 am UTC+ 8 hours).

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