Pele Mountain Resources has launched a 7,000-metre drill program at its Eco Ridge Rare Earths and Uranium Project in Elliot Lake.
The program will include in-fill drilling within the existing resource wireframe, with an objective of upgrading up to five million tonnes of inferred resources into the indicated category.
The program will also include step-out drilling to the north and east of the resource wireframe with an objective of bringing it up to 10 million additional tonnes of the mineralized reef into the inferred resource category.
Earlier this month, Pele announced approvals for two 21-year mining leases, which are renewable, giving its wholly owned subsidiary, First Canadian Uranium Inc., exclusive rights to mine the Eco Ridge Mine Rare Earths and Uranium Project in Elliot Lake.
Pele is on track to delivery the results of its preliminary assessment this quarter and recently received an updated NI 43-101 resource estimate for Eco Ridge, which included rare earth oxides and uranium oxide for the first time.
The PA will include a schedule of activities necessary to advance the project through the feasibility and licensing stages.
.jpeg;w=120;h=80;mode=crop)
