Katoro Gold completes initial fieldwork at White Pine

19th Nov 2024 14:57

(Sharecast News) - Katoro Gold, a company focused on energy and precious mineral exploration, announced on Tuesday that it has completed initial reconnaissance fieldwork at its wholly-owned White Pine Uranium Project in northwestern Ontario, Canada.

The AIM-traded firm said early findings suggested significant potential for uranium mineralisation, supported by geological features consistent with intrusive-style deposits.

It said the White Pine Project was identified based on three key factors - highly anomalous uranium in lake sediments, airborne radiometric signatures indicating radioactive minerals, and its geological setting between granitic rock formations known to host radioactive occurrences.

The ongoing desktop analysis, combined with field observations, reinforced the project's prospectivity, the board said.

Preliminary fieldwork, conducted over five days by an experienced prospector, included mapping outcrops, assessing terrain, and taking surface radiometric measurements to validate historical geophysical data.

Observed rock formations, such as pegmatitic leucogranites, aligned with the type of geology associated with intrusive-style uranium deposits.

Radiometric anomalies identified in historical surveys further indicated a primary local uranium source in the bedrock.

Katoro said White Pine benefitted from "excellent" infrastructure, with access to well-maintained roads linked to the Trans-Canada Highway, reducing future exploration costs.

Additional accessibility was provided by trails suitable for all-terrain vehicles and snowmobiles.

The company said it had also integrated high-resolution LiDAR data into its analysis, providing detailed elevation insights that enhance geological and structural interpretations.

Combined with historical airborne radiometric and magnetic surveys, the datasets were reportedly helping to delineate key structural trends and refine exploration targets.

"In the short time since staking the White Pine claims we've put together a comprehensive body of historical and open source data and have followed up with orientation in the field," said interim chief executive officer Patrick Cullen.

"The geology observed combined with elevated radiometric signatures is consistent with intrusive-style uranium mineralisation.

"We have compiled various spatial data available on the Ontario GeoHub and lake sediment sampling data and airborne survey reports sourced via the Ontario Geological Survey."

Cullen said those sources provided "substantial" value, adding that the field reconnaissance work provided important context to the ongoing analysis of the existing data, and gave the company the inputs needed to design "the most appropriate and cost-effective" exploration and sampling strategies.

"Accessibility is excellent meaning expenditure will be dedicated to direct exploration activities while avoiding expensive transport and camp establishment costs typical of remote sites.

"I look forward to updating investors on further findings and our programme.

"The company continues to evaluate further project opportunities and expects to make related announcements in the near term."

At 1327 GMT, shares in Katoro Gold were down 1.12% at 0.06p.

Reporting by Josh White for Sharecast.com.