Positive drill intercepts for Global

Aspiring junior Global Uranium and Enrichment remains upbeat about its US-based Tallahassee uranium project, following recent drill intercept results from the site’s Hansen deposit.

Diamond drilling from the two most recent holes indicated high-grade thickness intercepts above 8.4 metres.

Global told the market that recent drilling results would be included within the project’s upcoming scoping study, which is due to be released later this year.

Tallahassee, located in the American state of Colorado, holds a JORC 2012 mineral resource of 49.8 million pounds of uranium.

“Grade and thickness are two key drivers when it comes to assessing the economic viability of a deposit and the Hansen deposit has an excess of both,” Global managing director Andrew Ferrier said.

“The results that we have announced have exceeded our expectations, with each hole coming in much higher than the historical grades at Hansen deposit and significantly higher than the average resource grade at Tallahassee.”

Following recent political developments in the US last month regarding the banning of Russian imports from 2028, a number of Australian companies with uranium assets in the country are keen to capitalise on the country’s need for the commodity.

“The critical role and importance of nuclear power as a clean energy source continues to permeate across the globe,” Mr Ferrier said.

“This has been amplified at Tallahassee uranium project with the US prioritising its domestic sector, to ensure long-term supply of uranium over the coming decades and beyond.”

Global closed trade at 9.3 cents per share, up 2 per cent, while the present uranium spot price is $US89.35 per pound.