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Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is excited to announce preparations for our diamond drilling program at our 100% owned Mkuju Uranium Project.
- Tanzanian Mining Commission has approved BR Drilling Limited, the Company’s preferred contractor for the drilling at the 100% Owned Mkuju Uranium Project.
- The rainy season has ended. Mobilization, earthworks, and camp set-up now underway in preparation of the drilling campaign.
- Drilling will start in June at the promising SWC target where surface trenches gave vertical intervals including 2.55m @ 2017ppm U3O8, 0.75m @ 7139ppm U3O8, 2.35 @ 1636ppm U3O8 and 1.4m @ 3945ppm U3O81.
- Results achieved at the SWC target will define the fluidity of the drill program across the three target areas of SWC, Mtonya and Likuyu North.
The 2024 drilling program on the Mkuju Uranium Project is the result of the analysis of multiple geophysical surveys, historical data, and trenching to ensure that we have located the key target areas with the highest potential to intercept and extend uranium mineralization.
Drilling all-set commence in June now that the approval from the Tanzanian Mining Commission has been received and that the Rainy Season in Tanzania has ended.
The 2024 Drilling Program will include initial core drilling at the SWC target where 2023 trenches intersected up to 7139ppm U3O8. At Mtonya and Likuyu North, drilling will test potential extensions and new zones to the existing uranium deposits. Earthworks, camp establishment and equipment and crew mobilization are underway. Figure 1 provides an indicative timeline for the exploration.
Figure 1. An indicative timeline for the drilling program and other works.
The SWC target – summary and Gladiators planned drilling
The SWC target presents a promising opportunity for uranium exploration. In 2008, shallow auger holes were drilled, revealing excellent uranium intersections, but further exploration at the target was sidelined by Mantra Resources as they focused on their Nyota Uranium deposit to the north.
In 2023 Gladiator carried out trenching to confirm and understand the uranium mineralization and encountered high grade uranium in 4 of the 5 trenches2. Vertical channel samples across the gently dipping layer included:
- 2.55m @ 2017ppm U3O8,
- 0.75m @ 7139ppm U3O8,
- 2.35 @ 1636ppm U3O8 and
- 1.4m @ 3945ppm U3O8.
Gladiators drilling will test the potential down-dip extension of this mineralization, described in the announcement dated 26 December 2023. Figure 2 is a conceptual cross-section through the SWC target showing the North and South Limb zones. Figure 3 provides a map of the North Limb zone with planned drillholes marked.
Click here for the full ASX Release
This article includes content from Gladiator Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
GLA:AU
Purepoint Uranium
Investor Insight
Purepoint Uranium offers strong leverage to the rising uranium market through a high-impact portfolio in Canada’s Athabasca Basin. With exploration partnership alongside industry majors Cameco, Orano, IsoEnergy and Foran Mining – Purepoint is strategically positioned to deliver discovery success while minimizing dilution.
Overview
The Athabasca Basin in Saskatchewan is a globally recognized uranium district, offering unmatched grade, infrastructure and discovery potential. As governments and utilities increase investment in nuclear energy, exploration in Tier-1 jurisdictions like Saskatchewan is gaining renewed momentum.
With deep industry ties and a disciplined, technically driven approach, Purepoint Uranium (TSXV:PTU,OTCQB:PTUUF) is uniquely positioned to advance multiple high-priority assets in 2025. Key advantages include:
- District-scale exposure to high-potential uranium assets in the Athabasca Basin
- Lower financial risk through strategic joint ventures with Cameco, Orano, IsoEnergy and Foran Mining
- Operational control of exploration activities across its portfolio
- Strong alignment with the renewed push from major producers into uranium exploration
Company Highlights
- Strategic Positioning in the Athabasca Basin: A focused portfolio of advanced uranium projects in the world’s highest-grade uranium district, offering exceptional discovery potential.
- Strong Partnerships with Industry Leaders: Joint Ventures with Cameco, Orano, IsoEnergy, and Foran Mining provides financial strength, technical expertise, and third-party validation.
- Low-Dilution Growth Strategy: Strategic alliances reduce financial risk, enabling Purepoint to advance key assets while preserving shareholder value.
- Positive Outlook Amid Rising Uranium Demand: As global uranium demand surges, Purepoint is advancing high-priority targets aligned with renewed interest from major producers.
Key Projects
Hook Lake Project
Located in Saskatchewan’s Patterson Uranium District, the Hook Lake property spans 28,598 hectares and it is operated by Purepoint (21 percent), in a partnership with Cameco (39.5 percent), Orano (39.5 percent).
Key Highlights:
- Spitfire Discovery: 53.3 percent U₃O₈ over 1.3 metres, including 10 metres averaging 10.3 percentU₃O₈.
- Carter Corridor: 2024 drilling confirmed the Lightning Zone with 0.29 percent U3O8 over 0.9m (incl. 0.68 percent U3O8 over 0.3m).
- Forward Plan: Continued testing of Lightning Zone and northern extension of NexGen’s PCE discovery, where a key conductor extends ~1 km into the Hook Lake property.
Smart Lake Project
Purepoint operates and holds 27 percent of the Smart Lake project in a joint venture with Cameco.
The Smart Lake property comprises 9,860 hectares in the southwestern Athabasca Basin, located 60 km south of the former Cluff Lake mine and 18 km west of Purepoint’s Hook Lake JV.
Key Highlights:
- Shallow Depth(<350m): With geophysical similarities to Shea Creek, 55 km north, which hosts 68 million lbs U₃O₈ at 1.50 percent(UEC, Jan 2023).
- Exploration Potential: Purepoint has confirmed anomalous uranium and hydrothermal alteration.
- Structural Analogues: Uranium mineralization is linked to intersections of the east-west Arthur Fault and north-south features like the Shearwater conductor, similar to mineralization controls at Shea Creek.
- Target Development: Additional east-west faults (Groomes Lake, Cristobal) align with high-priority EM conductors.
- Drilling underway: four holes (~1,400 metres) targeting on high-conductivity zones at the Groomes Lake corridor.
Dorado Project
The Dorado Project is in the eastern side of the Athabasca Basin, positioned along the renowned Larocque Conductive corridor (the “Larocque Trend”), home to IsoEnergy’s Hurricane Deposit.
Key Highlights:
- Consolidates Four Projects: The project is a 50-50 percent joint venture with IsoEnergy and it consolidates Turnor Lake, Geiger, Edge and most of the Full Moon properties into a single high-priority exploration initiative
- Operator: Purepoint serves as the operator of the exploration venture.
- Q2 2025 Drill Program: 6,200 metres across 17 holes designed to test a series of graphitic conductors that wrap around a central granitic dome, with target areas prioritized based on a consolidated geological model that now includes both the Turnor Lake and Geiger regions.
Aurora Project
The Aurora Project, a 50/50 joint venture with IsoEnergy Ltd., is located along the eastern mine trend of the Athabasca Basin—an area known for its high-grade uranium deposits.
Key Highlights:
- Strategic Location: Positioned directly east of the Dorado Project and close to Orano’s past-producing JEB deposit and Cameco’s Eagle Point deposit.
- Consolidates Three Projects: Aurora includes portions of the Full Moon, Red Willow, and Collins Bay Extension properties, offering significant near-surface uranium potential near the McClean Lake and Rabbit Lake operations.
- Operator: Purepoint serves as the operator of the exploration venture.
- Geophysical Survey: An airborne geophysical survey is planned for 2025 covering the Collins Bay Extension and is intended to refine shallow targets in proximity to the McClean Lake and Rabbit Lake infrastructure.
Celeste Project
The Celeste Block Project, a 50/50 joint venture with IsoEnergy Ltd., and incorporates Thorburn (Celeste West), North Thorburn (Celeste North), Madison (Celeste East) and 2Z properties (Celeste South).
Key Highlights:
- Favourable Location: covers portions of conductor trends east of the Cigar Lake Mine and southwest of the Rabbit Lake and McClean Lake mines.
- Operator: Purepoint serves as the operator of the exploration venture.
- 2025 Drilling at Celeste East: initial drilling scheduled for late Q3 to focused on shallow conductor systems with ongoing geophysical refinement across the broader block at a later time.
Denare West
Located ~55 km WSW of Flin Flon, Manitoba, Denare West is a 21,066-hectare VMS exploration project identified by Purepoint in 2018 as highly prospective, positioned on strike with the Hanson Lake and McIlvenna Bay deposits.
Key Highlights:
- Optioned to Foran Mining under a $19 million earn-in agreement.
- Location: 9km from Foran Mining‘s McIlvenna Bay deposit (39 Mt @ 2.04 percent CuEq), on path to production.
- VTEM Max Survey (2025): The completed and interpreted a airborne EM survey over the Denare West project in February 2025 revealed multiple conductive anomalies aligned with the geologic horizon known to host VMS deposits in the region.
Tabbernor Project
The 100 percent-owned Tabbernor Project covers 79,463 hectares along the crustal-scale Tabbernor Fault System—a 1,500-kilometre-long crustal shear zone that extends north through the Athabasca Basin. This deep-seated structure hosts over 80 historic mines and gold showings and intersects the Basin’s primary uranium trend, aligning with eight of its largest uranium discoveries.
Key Highlights:
- Intersecting Major Uranium Trends: Aligned with eight of the Basins largest uranium discoveries
- 2025 Program: Follow-up activities will include boulder sampling, drilling, prospecting, and soil geochemical surveys.
Management Team
Chris Frostad - President, CEO and Director
With over 40 years of experience, Chris Frostad has led the growth and development of early-stage public and private companies across the technology and mining sectors. He has served as president and CEO of Minera Alamos and held director roles at Victory Capital (VIC) and Enthusiast Gaming Holdings (EGLX), as well as CEO-in-Residence at a Toronto-based venture capital firm.
Scott Frostad - VP of Exploration and Director
Scott Frostad has over 30 years of experience in the Canadian mining industry and has worked with top companies such as Lac Minerals, Teck, and Placer Dome. Most recently, he served as environmental specialist for Cogema Resources, managing environmental issues at the Cluff Lake and McClean Lake Uranium Mines in Northern Saskatchewan.
Ram Ramachandran - CFO
Before his position as CFO with Purepoint, Ram Ramachandran brings an 11-year tenure as deputy director and associate chief accountant with the Ontario Securities Commission. Most recently, Ramachandran provided advisory services in the area of litigation/compliance to numerous companies. To his credit, Ramachandran conceived, developed and launched the Canadian Securities Reporting Advisor – an online compliance tool for public companies.
Jhorose Cardenas - Director of Finance
Jhorose Cardenas is a Chartered Professional Accountant with extensive experience in public accounting, specializing in audits for SMEs, public sector agencies, Indigenous organizations, and not-for-profits. She has led financial reporting and compliance under ASPE, PSAS, and IFRS, including the implementation of new standards such as CAS 315 and IFRS 17.
Jeanny So - Corporate Communications
Jeanny So has over 20 years of experience in operations, investor relations, sales and marketing in the financial industry and has executed corporate communication programs for several private and publicly listed companies.
