Mesa Exploration has reported that it has recently drilled six rotary holes at its 100% owned Moonshine Springs project, which contains uranium. This project is situated in Northwest Arizona.
The ongoing drill program examined the expansions of radon soil geochemical target areas and uranium mineralization, which was formerly identified.
The company has encountered 0.131% U3O8 over 4.0 ft and 0.058% U3O8 over 2.0 ft in hole M3, 0.065% U3O8 over 2.0 ft in hole M5, 0.141 U3O8 over 1.5 ft and 0.176 U3O8 over 2.5 ft in hole M7, 0.013 U3O8 over 8.5 ft in hole M8. Uranium mineralization has been found in the holes M4 and M6 at 8.0 and 6.0 ft, respectively.
The holes from M3 to M7 were step out holes, which were drilled at a distance of around 100 ft from former holes M1 and M2, which returned 0.21% U3O8 over 7.5 ft, 0.47% U3O8 over 4 ft, respectively. The hole M8 is situated at a distance of 1,200 ft towards the south from the holes M1 through M7 and partly examined a huge radon soil anomaly. The drill program has outlined the Triassic Chinle formation’s north-south sandstone channel, which has strong mineralization. The company has planned for follow up drilling for the later part of 2012, based on the positive drill results.
The location of the Moonshine Springs deposit is 2 mi. from Dennison Mines’ U3O8 deposit. Both deposits exist in the similar host rock and geological setting.