Shares of Plateau Uranium Inc. (TSX-Venture:PLU) (OTCQB:PLUUF) have been on a tear the last couple of weeks, and adding fuel to the fire was today’s announcement that the company has continued its excellent drill results from the next two drill holes at the new Falchani discovery, located in the Chaccaconiza area of the Company’s Macusani Plateau Project in southeastern Peru.
Results from the second and third diamond drill holes from the first platform intersected identical rocks to the first drill hole reported November 15, with continued thick uranium mineralization from surface and very high-grade lithium mineralization in the older felsic tuff unit.
Highlights of today’s drill results included 61.2 m of 0.79% Li2O and 56.0 m of 511 ppm U3O8 reported, with Lithium mineralization open at depth. The Falchani prospecting discovery is the largest of six areas of highly anomalous radioactivity in the newly accessed Chaccaconiza area located in the south central region of the Plateau Uranium’s extensive 910 km2 land package.
Drilling commenced in late September and these latest results reinforce that Falchani is a significant discovery from multiple drill holes.
Thick, high-grade lithium mineralization averaging 3,670 ppm Li over 61.2 m were intersected below thick uranium mineralization of 511 ppm U3O8 over 56 m from surface in the drill hole drilled to the northeast. The third reported drill hole from Falchani was drilled to the southeast and intersected 27.5 m of 900 ppm U3O8 from surface overlying deeper, high-grade lithium mineralization that averaged 3,525 ppm Li over the bottom 37.5 m of the drill hole.
As mentioned, today’s news has caused shares to advance another 13.21% just as the trading day wraps up. At last check, shares of PLU are up over 120% since early-November and quickly closing in on their early-2017 highs.
