Willson's Find RC Drilling Campaign October 2024 Bloodwood Project Area

Abstract

URO's Wilsons Find copper-tungsten-base metal target has been the focus of an initial greenfield exploration program designed to evaluate the depth extent of mineralisation. The area has previously undergone surface exploration, but no drilling has been conducted to test mineralisation at depth. Historical mining in the 1930s reached a depth of approximately 3 meters, but the full extent of mineralisation at depth remains untested. The recent drilling programme focused on evaluating the depth extent of mineralisation, which had previously only been tested through surface exploration and historical mining to a depth of 3 metres. Recent geological mapping, surface sampling, and an Induced Polarisation (IP) geophysical survey identified promising targets for drilling, which tested mineralisation beyond the historical depth. The programme aimed to test the continuity of identified veins to evaluate their potential for mineralisation down-di. Thus, exploring the economic potential of copper, tungsten, and base metal deposits at depth. The drilling was strategically targeted at perpendicular vein intersections to maximise the chances of encountering significant mineralised zones. The primary metals of interest were copper, tungsten, and base metals. Copper and tungsten are vital for the global energy transition. Copper is key in renewable technologies like electric vehicles, solar, and wind, while tungsten is essential for high-performance alloys in electronics and energy-efficient tech. The rising demand for these metals highlights the importance of URO's exploration efforts, which could support the shift towards sustainable energy and technological progress. The RC drilling campaign took place over 8 days, from October 23 to 30, 2024. Initially, drillholes were planned to reach 300m or until the geologist determined that mineralised zones had been adequately tested. In the end, 8 holes were drilled, with depths varying between 210m and 300m, totalling 2,228m. The drilling encountered a thin, unconsolidated cover sequence, typically between 0 and 4 metres, consisting of quartz, feldspar, and mica with a granitic composition and moderate weathering. Below this, weathered granite was observed in several holes, transitioning to fresh granite at shallow depth. The primary lithology was the felsic Wabudali Granite, which showed varying degrees of weathering, including minor iron oxide staining. The granite predominantly contained quartz, plagioclase, potassium feldspar, muscovite, with varying amounts of epidote and mafic minerals such as tourmaline and hornblende. Minor chlorite alteration and replacement of mafic minerals was also observed in various drillholes. Wilson's Find RC drilling reveals a two-tier Cu-W system. Near-surface quartz veins (0-40 m) host malachite, cuprotungstite and relic wolframite, whereas the same structures at depth contain fresh chalcopyrite-pyrite plus/minus wolframite. Stand-out copper intercepts are 4 m @ 6,200 ppm Cu (peak 10,413 ppm) in WFRC0003, 2 m @ 2,340 ppm Cu in WFRC0005 and 1 m @ 4,445 ppm Cu with 1,199 ppm W in WFRC0008. Accessory metals peak at 5,694 ppm W, 502 ppm Mo, 1,966 ppm Zn and 14.6 ppm Ag, confirming a robust polymetallic signature. Five holes drilled into dipole-dipole IP chargeability highs intersected sulphides, validating IP as an effective guide, while WFRC0003 and WFRC0005-collared solely on mapped surface veins-delivered the thickest and highest grades, showing that structural mapping can locate significant mineralisation even without deep IP coverage. Follow-up work should step out along strike from WFRC0003, extend drilling at WFRC0005 and WFRC0008, and expand IP surveying to delineate additional Cu-W shoots before resource-definition drilling.