Moab Minerals – ASX: MOM (formerly Delecta Limited – ASX: DLC) is an Australian company that is in the business of mining exploration and evaluation.
REX Uranium-Vanadium Project
The company announced on June 24th, 2020 that it had acquired 60% of the shares in Sunrise Minerals Inc. Sunrise Minerals Inc is a Colorado based company that holds the REX Uranium-Vanadium Project.
The project consists of 256 contiguous BLM claims covering 2,072ha. Uranium mineralization is confirmed at the project site, with four historic uranium mines within the area. The claims are readily accessible via surfaced and county-maintained gravel roads from either Moab or Monticello.
The REX Uranium-Vanadium Project has a lot of potential. The site has uranium mineralization confirmed and there are four historic uranium mines located on the property.
The project is also easily accessible via roads maintained by the county. This could make it easy to get to and develop.
The REX uranium-vanadium claims have extremely encouraging assay values, with uranium grades up to 5,280ppm and vanadium grades up to 13,600ppm.
The average grade of the 12/17 samples was 2,246ppm uranium (0.22%) and 1,950ppm vanadium (0.195%), with a peak value of 5,280ppm uranium (0.53%) and 13,600ppm vanadium (1.36%) recorded.
The historical grades from the Uravan Mineral Belt average 0.24% uranium and 1.25% vanadium, so these results suggest that the REX claims could be highly prospective for uranium and vanadium mineralization.
The project is located within trucking distance of the White Mesa mill, which is the only operating conventional uranium-vanadium mill in the US and has 90% spare capacity available to toll treat mined ore.
Speedway Gold Project
Located only 40km’s southeast of the Long Canyon Gold Mine, the Speedway Project is highly prospective for gold. The Company is targeting gold mineralization in similar stratigraphy to Long Canyon.
The discovery of a significant gold deposit so far east of the Carlin trend has raised awareness of the potential of far western Utah to host similar gold deposits as the Carlin Trend and Long Canyon.
The mineral exploration company completed a due diligence sampling process at the site, and the results confirmed the existence of multiple mineralised outcrops with strongly anomalous gold values associated with brecciated and altered limestone rocks.
The acquisition includes a historical database of over 800 rock chip samples from the site, with very limited follow-up testing of identified gold rock chip anomalies. The sample results show strongly anomalous gold values over a 2.5km strike.
Further exploration work consisting of mapping and significant soil sampling will commence shortly at the site, in order to develop drill targets to be tested in Q2 2021.
Building 41, 9-45 Ashley Street
Braybrook, Victoria, Australia 3019
Phone: +61 8 9389 8033
Email: [email protected]
Moab Minerals Stock Performance & Market Cap
Stock Symbols – ASX: MOM
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While considering this individual company, also take a look at these other uranium stocks to include in your portfolio.
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