The news of the continued mineralization of uranium at the Tatiggaq Thelon Basin Project has the mining and energy industry abuzz.
The exploration and drilling activities conducted by Forum Energy Metals Corp., a Canadian resource company, have extended the mineralization of uranium by an impressive 200 metres from the former project outline.
Prior to this extension, the company had already discovered a notable mineralized zone containing uranium that extended for 700 metres. The zone itself was found to be both deep and wide; coupled with the new 200-metre extension, it now covers a massive distance of 900 metres.
Though the project is still in the CPR-51 stage, and accurate estimates on the amount of the valuable mineral present are yet to be released, these results do point to the potential for quantities well into the future.
Mining and industry experts have long predicted the revitalization of the uranium industry, especially in light of the increasing demand from a progressive shift to renewable energy. With this new development, we could be in for a great jumpstart; as Forum Energy Metals’ progress opens the path to investment inquiries into the market.
Uranium is widely used for nuclear power production. Its consistent supply and stability while being cost-efficient makes it attractive to many developing countries. Now, with the still-hidden potential at the Tatiggaq Thelon Basin Project, suppliers may be able to capitalize on this trend and meet the rising demand.
The development in the industry is already causing quite a stir, especially in the face of a nuclear renaissance. As Forum Energy Metals Corp. and the Tatiggaq Thelon Basin Project continue their exploration and drilling activities, we may finally catch a glimpse of how relevant uranium mining will be to the growth of the energy sector.