Ancient Meteor Impact May Hold Key To Uranium Exploration Success At Cluff
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Ancient Meteor Impact: The Key to Uranium Exploration at Cluff
Title
Ancient Meteor Impact: The Key to Uranium Exploration at CluffSummary
ESO Uranium targets a promising site near a 1970s discovery.Keywords
investing, stock market, commodities, energy, utilities, stock tips, uranium, miningArticle
Introduction
Tony Harvey, a senior technical advisor for ESO Uranium (TSX: ESO) and former manager at Wright Engineers-Fluor Daniels, evaluates around 100 projects annually, most of which are dismissed. What gets his attention? "History and solid signposts," he says. So, why is he backing ESO Uranium after an illustrious career? Harvey co-founded Azco Mining and was a director at Cobre del Mayo, whose mines were sold to Phelps Dodge.The Historical Significance
Harvey is captivated by the rich history at Cluff Lake. "The Cluff Lake mine confirms uranium's presence," he notes. Additionally, Shea Creek drilling supports this. ESO's property reveals six uranium-rich boulders, near a forgotten 1970s drill hole showing 0.85% U3O8 over 2.3 meters. This resurgence of interest comes as the Athabasca Basin boosts companies like Cameco to a $12 billion market cap.Geological Insights
Geologists aim to uncover Cluff Lake-style uranium deposits in basement rocks near the Carswell structure. Benjamin Ainsworth, ESO's VP of Exploration, believes a meteor impact helped expose uranium-rich rocks, making extraction easier and pointing to other high-grade deposits in the area.Recent Scientific Studies
Recent studies have shed light on the Carswell Astrobleme. The University of Quebec's research indicates the structure is older and larger than previously thought, suggesting a massive crater formed over a billion years ago.Drilling Strategy
ESO plans a six-hole drill program at Cluff, starting near the 1970s hole, with angled drilling to better intersect mineral-bearing structures. "We'll step out southeast, closer to the original mine," Ainsworth explains. ESO plans to explore conductors extending from Shea Creek onto their property.The Hook Property
Another promising area is the Hook property, about ten miles south of Shea Creek. With minimal exploration, it shows strong geophysical indicators. "I'm excited about the Hook because of its strong conductors and alteration clues," says CEO Jonathan George. With drilling expected soon, hopes are high that these new targets will yield results.Expectations and Risks
Ainsworth remains optimistic about Cluff's potential but cautions about the small size and complexity of deposits. "The world's richest deposit, McArthur River, is in an area half the size of a football field," he notes, highlighting the challenge.Conclusion
Drilling at Cluff is imminent, with results anticipated soon. Ainsworth reminds us of the high-grade potential: "The grade is so high that it's worth pursuing." With a strong exploration team and $4.7 million earmarked for exploration, ESO Uranium is set for promising developments. As Ainsworth points out, "You can see uranium minerals with the naked eye," making it easier to gauge initial success.Anticipate seeing drill results soon.
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