UVRE (ASX:UVA) Starts Drilling At East Canyon, Utah

Uvre (UVA) has commenced drilling at its East Canyon uranium-vanadium project in Utah, US.

The phase one drilling program will test extensions of high-grade uranium and vanadium mineralisation and samples around historical workings of up to 1.27 per cent uranium oxide and 9.21 per cent vanadium oxide.

Uvre plans to drill 50 holes at East Canyon for up to 2500 metres across the None Such and Bonanza prospects.

The drill program is targeting shallow mineralisation with an average depth of the holes to be around 50 metres.

Managing Director Pete Woods said the maiden program being underway represents a “significant milestone” for the company and he’s excited to get started.

“Diamond core drilling will allow for early metallurgical test work to be carried out, further shoring up the potential of this strategic project.

“The Uvre team is motivated to advance the asset rapidly as the uranium resurgence and search for critical minerals across the globe intensifies. We are well positioned in a first world jurisdiction and are fully funded.”

The program is expected to be completed in the December quarter.

On the market, UVA shares were up 9.09 per cent today to trade at 18 cents each at 1:27 pm AEST.