Auric Minerals to explore Route 500 uranium project, Labrador

Auric Minerals Corp. [CSE: AUMC] has planned the first phase of its 2025 exploration program on the Route 500 uranium property, located in Labrador’s prospective Central Mineral Belt (CMB). The field team is scheduled to mobilize to the property in January 2025.

The Route 500 property is located approximately 100 km west-southwest of Paladin Energy’s 92-million-pound-uranium Michelin deposit and a similar distance east of Atha Energy Corp’s 14.5-million-pound CMB uranium discoveries.

The initial work program will partly cover recommended work programs from the technical report on the Route 500 property and is planned to include prospecting, geologic mapping, plus extensive rock and soil sample surveys. Initial targets were identified during historic exploration programs from 1995 to 2013 by various operators. Particular focus will be made on identifying and tracing pegmatite bodies on the property, which have historically returned uranium mineralization.

Chris Huggins, interim CEO of Auric Minerals, commented: “We are excited to begin exploration on the Route 500 property. The Central Mineral Belt of Labrador is a highly prospective area as evidenced by Paladin Energy and Atha Energy Corp.’s discoveries, yet this region is still vastly underexplored.”

Auric is a mineral exploration company based in Oakville, Ont., and holds options over the Route 500 uranium property in Labrador and the Goodeye property in British Columbia, Canada.

The Route 500 property consists of two contiguous mineral claim blocks covering approximately 11,025 hectares, located 70 km east of Churchill Falls, Nfld. The Route 500 property can be accessed by following the Trans-Labrador Highway 500 West from Happy Valley-Goose Bay. The claims straddle the highway to the north and south, providing excellent accessibility. Limited historic work has been completed, yet shows the property is highly prospective for uranium mineralization.