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Energy Metals intercepts significant uranium mineralization at Malawiri deposit

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Energy Metals intercepts significant uranium mineralization at Malawiri deposit

A four-hole rotary and diamond drilling program at Energy Metals Ltd.'s Malawiri project has yielded "significant" uranium discoveries in at least two of the holes, including an 8.1-meter section at a grade of 1,789 parts per million of eU308, the company confirmed in a Sept. 27 market statement.

The ASX-listed company drilled a total of 840 meters at Malawiri, part of the Ngalia Regional property, 200 kilometers northwest of Alice Springs in Australia's Northern Territory.

The program was partly funded by the Northern Territory government's Creating Opportunities for Resource Exploration, which provides up to A$100,000 to selected exploration projects in the region.

One of the holes intersected several zones of "significant" uranium mineralization at a depth of between 173.1 meters and 225.5 meters.

Another hole included a 3.3-meter section at 198 ppm of eU308, from a depth of 136.7 meters.

The program also identified a large strike-parallel zone considered a prime target for future exploration, according to the statement.

The company "believes it will be possible to advance the project to JORC-compliant resource status in the near future," the statement read.