(Sharecast News) – Power Metal Resources on Friday said that uranium mining samples at Perch River in Saskatchewan have identified what it described as a fertile formation with the potential to mine uranium at depth.
The AIM-traded company said the Perch River property, held under its uranium joint venture with Fermi Exploration, was reviewed using additional geochemical and mineralogical data from drill samples collected within the Rapids Fault Structure.
Power Metal said the results confirm the geochemically fertile nature and mineralogy of the unconformity-related uranium deposit.
It said the presence of sudoite, hydrothermal tourmaline and dolomite within the fault structure supports that interpretation.
Additional samples were collected in December 2025 from holes drilled during Fermi’s June and July 2025 program.
The original plan encountered promising geology but no primary uranium, and was terminated at that time.
A routine analysis later identified more unusual lead isotope ratios, which the company said could act as a proxy for uranium mining, prompting more sampling.
Power Metal said drillhole PR25-01 returned boron levels of 779 parts per million, which it describes as a significant finder typically associated with primary uranium mining within 100 meters.
Geochemical analysis also confirmed the lead isotope results earlier and along strike 400 meters on the Rapids Fault Structure.
The company said the deepest part of drillhole PR25-04A returned the highest values of radiogenic lead, with lead isotope ratios of more than 100, consistent with sudoite alteration and the highest recorded uranium value of 130 parts per million.
CEO Sean Wade said the additional results “fundamentally improve” Perch River’s prospects.
“Although our 2025 drilling program did not encounter primary uranium, the identification of nearby ancient indicators, confirms that we have successfully drilled the upper halo of a potentially fertile hydrothermal system,” he said.
“Worse, the amazing radiogenic lead acts as a direct vector, which gives our technical team a clear reason for the high level at great depth.”
Wade said the data turned Perch River into Power Metal’s most important target for follow-up drilling.
The Rapids Fault Structure is an east-west, strike-slip fault and the fault system extends approximately 650 meters.
It is east of, and probably related to, the north-south trending Font du Lac Fault, which cuts through the middle of the Perch River basin.
Power Metal said the ambient sound tomography data showed that the Rapids Fault System could extend below the unconformity to a depth of one kilometer or more.
The company said the technical team interpreted the 2025 drilling as intersecting the distal, upper level of the system.
It said the combination of high-temperature sudoite alteration, hydrothermal tourmaline and radiogenic lead suggested that a hydrothermal core, which may contain uranium mineralisation, remained unexplored at great depth.
An additional 105 samples were collected from three holes, including 91 samples from PR25-04A, eight from PR25-01 and six from PR25-05.
They were analyzed for a full chemical suite and short-wave infrared spectroscopy, while petrographic analysis was performed on 10 samples.
Power Metal said PR25-05, located 500 meters east of PR25-01 and 760 meters east of PR25-04A along the Rapids Fault Structure, did not reveal a fertile mineralogical or geochemical signature during sampling.
The company said its geological model suggests that PR25-01 intersected the upper, illite and boron-rich level of the hydrothermal alteration system, while PR25-04A reached a lower structural level marked by sudoite dominance and illite, indicating proximity to a high-temperature context.
Power Metal said a combination of lead isotope, geochemical and mineralogical data, including boron, nickel, arsenic and copper pathfinder associations, shows that the Rapids Fault Structure has great potential as a fertile mineral structure.
Fermi’s technical team concluded that drilling in 2025 was too shallow to prevent inconsistent core mineralization, leaving significant potential for uranium recovery at greater depths near the structure.
At 1313 BST, shares in Power Metal Resources were flat at 13.25p.
Josh White of Sharecast.com reports.
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