Company Secures Option to Explore Jersey Valley Property in Favorable Setting

📆 28/11/2024 03:57:00
📰 mining

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Uranerz Exploration and Mining Limited has obtained an option to explore the Jersey Valley Property, a site with promising geological indicators for precious metals. The property, located in a favorable structural and lithostratigraphic setting, includes calcareous siltstones and sandstones of the Havallah Formation. Previous exploration efforts have shown limited work, but recent sampling suggests potential for significant mineralization.

The property comprises 143 unpatented lode claims spanning 2954.5 acres (1195.7 hectares) and is set favorably in terms of structural and lithostratigraphic context. It is located near the Buffalo Valley and gold mines. Calcareaous siltstones and sandstones of the Havallah Formation are found in the area, and rock samples have shown anomalous values of pathfinder elements such as arsenic, antimony, mercury, silver, and gold.

Previous exploration by two companies revealed limited work in the 1990s involving trenching and drilling, but data from those programs are currently unavailable. The company has secured an option to explore the Jersey Valley property, viewing it as an opportunity to explore in a region known for its precious metals deposits

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