15 uranium targets identified in Guyana

Jul 06, 2026 News

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…Canadian firm says property could host major uranium district

(Kaieteur News) – Canada-based U92 Corp. says its flagship Kurupung uranium project in Guyana has the potential to become a significant uranium district, with 15 identified priority exploration targets – several that were never fully tested despite decades of exploration.

U92 acquired the project which spans across 92.2 square kilometres of mining lands, earlier this year following its acquisition of a Singaporean firm LIA Industries Pte. Ltd.  The project which carries a historical resource estimate of 20.6 million pounds of uranium is being developed by U92 Energy.

According to a filing in relation to the acquisition, exploration on the property traces back to French state-owned company Cogema, which discovered uranium mineralisation in the area during a nationwide exploration programme conducted between 1979 and 1984.

Cogema’s focus was on unconformity-type deposits, similar to those of the Athabasca Basin in Saskatchewan Canada, in the Roraima Basin.

Cogema is reported to have drilled 41,334 meters in 291 holes across 14 targets in the Aricheng area.

Exploration on the property resumed after Canadian company U3O8 Corp. obtained prospecting licences from the Guyana Geology and Mines Commission (GGMC) in 2005 and began work in 2007.

The document states that between 2007 and 2012, U3O8 Corp. completed an additional 88,388 metres of diamond drilling in 440 holes, alongside airborne and ground magnetic and radiometric surveys, soil sampling, trenching, rock-chip sampling and geological mapping. The work resulted in historical uranium resource estimates on four deposits and identified 14 drill targets. The technical reports related to U3O8 work are those of Alexander & Breede (2009) and Workman & Breede (2012).

However, the company was unable to continue to fund exploration due to weak prices in the uranium industry in the wake of the Fukushima meltdown in March 2011.

According to the filing, despite the extent of exploration carried out by Cogema and subsequently U308 Corp., a review of the data available in the public domain shows that a number of targets were shown to have potentially economic mineralised intervals but were not advanced to mineral resource estimation through infill drilling.

“Some targets were not drilled at all. This represents a compelling opportunity for further exploration to potentially establish a uranium district of significant size comparable with similar albitite-hosted systems elsewhere in the world,” it was stated.

It was explained that characteristic of albitite-hosted uranium deposits worldwide is that mineralisation is concentrated in shoots have significant depth extent of up to 1,200 meters below surface.  As such, it was stated that since the mineralised shoots on the property were drilled to only 250 meters to 350 meters below surface, and are open at depth, there is potential for deeper drilling.

Apart from this depth extent potential, this report also focused on the potential for mineralisation in additional shoots, targets where mineralisation was intersected and not extensively followed up, and on several few new targets.

Fourteen hard-rock targets have been identified for further exploration and drilling. It was also stated that the weathered part of mineralised zones also warrants exploration as the 15th target. Since acquiring the project, U92 has already finalised a commercial agreement for a phase one 5,000-metre diamond drilling programme and submitted the required environmental application for drill pad preparation.

U92 had cautioned that historical uranium resource estimates completed by Alexander & Breede and Workman & Breede in 2009 and 2012 are no longer current and should not be relied upon. However, the report concludes that the underlying exploration data are of sufficient quality to justify updated resource modelling and further drilling.

Moreover, the company identified the main risk to the future economic development of the property as uranium price. It was explained that uranium recovery rates also constitute a risk and opportunity. “The greater the extent of the uranium extraction rate above the current 83% indicated by prior metallurgical test work, the greater the potential economic viability of the property,” it said.

It also said Guyana’s continued focus on mining as a driver of economic growth reduces the risk to the property’s mineral title, provided exploration commitments are met. However, the report acknowledged that Venezuela’s claim to Guyana’s Essequibo Region remains a potential title risk.

(Guyana) Inc., a private limited liability company in Guyana which was incorporated on 20th March, 2023, the “exclusive right of occupation and exploration” through the issuance of two exclusive Prospecting Licences (PLs). Exploration activities at the project site commenced in 2024. The prospecting licences permit the exploration of uranium, other radioactive minerals, and rare earth elements (REEs) for a period of three years ending 18th April, 2027. The licences may be extended upon application for a maximum of two additional one-year periods, extending the term to 18th April, 2029.

Several stakeholders, including the Amerindian People’s Association (APA), the former head of the EPA, Dr. Vincent Adams and some opposition members, have raised concerns about the uranium exploration project. Some cited lack of public disclosure, inadequate consultation with Indigenous communities, and uncertainty over the regulatory framework governing uranium.

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• Kurupung uranium project, U92 Corp, Uranium

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