Global Energy Metals Corporation has highlighted the identification of seven prominent uranium-thorium radiometric anomalies from preliminary airborne geophysical data collected across the Charlot-Neely Lake uranium project in northern Saskatchewan.

The ongoing 2,441 line-kilometre high-resolution airborne radiometric and magnetic survey covers approximately 163.7 square kilometres. The property forms part of a 594 square kilometre Saskatchewan uranium portfolio over which Global Energy Metals holds a 0.5% Net Smelter Return royalty. The results were released by Terra Balcanica Resources Corp., which owns a 39.5% equity interest in project operator Terra North Resources Corp.

One of the strongest preliminary radiometric responses was detected north of Neely Lake, an area associated with historical uranium-bearing outcrops grading up to 0.8% U₃O₈. Preliminary magnetic data has also distinguished two major geological domains separated by the northeast-southwest trending Black Bay Fault, which extends approximately 20 strike-length kilometres through the project claims.

Global Energy Metals acquired its 0.5% Net Smelter Return royalty over the project in 2024 through an agreement involving Terra Balcanica and Fulcrum Metals Canada Ltd. The royalty spans four uranium properties within Saskatchewan's Athabasca Basin, including Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton.

“From GEMC’s perspective, this is exactly the type of value creation our royalty and project-generation strategy is designed to capture. We retain a 0.5% NSR royalty across Terra North’s 594 km² Saskatchewan uranium portfolio while the underlying assets are advanced through partner-funded exploration. As additional geophysical data is collected, targets are refined and ultimately tested through drilling, GEMC shareholders maintain exposure to potential discovery upside without Global Energy Metals funding the exploration expenditures.”

— Mitchell Smith, President and CEO, Director

Terra North intends to process and interpret the complete airborne dataset as a precursor to ground truthing and drill-target definition.

Read the full announcement: Global Energy Metals Highlights Identification Of Prominent Radiometric Anomalies At Charlot-Neely Lake Uranium Project