Paladin Energy 'encouraged' by drilling results at Canada site
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The news: Uranium miner Paladin Energy said it is "encouraged" by drilling results at its Patterson Lake South project in Saskatchewan, Canada.
The numbers: Paladin completed 11 drillholes at the Saloon East area of the project, which represented the strongest radioactivity intersected at the site outside of its central Triple R deposit.
The context: The company — which announced the resignation of its company secretary on Friday, a day after confirming it may face a second shareholder class action in Victoria — said that all 11 drillholes intersected radioactivity and provided "exciting results".
What they said: "Our Canadian team are very encouraged by the initial results we are seeing at Saloon East," said Paladin CEO Ian Purdy.
"... The widespread presence of elevated radioactivity and hydrothermal alteration suggests that we are exploring a significant mineralised system," he said.
The source: ASX
