The playbook — uranium · September 1, 2026
Geiger's first hole at Fox Zone lights up the scintillometer
A greenfield hole on the same fault as Orano's 133-Mlb Kiggavik hit ~50 m of radioactivity — but no assays yet.
Geiger Energy pushed its first-ever drill hole into the Fox Zone, a target in the Thelon Basin of Nunavut that had never been drilled before. The hole hit about 50 metres of elevated radioactivity — most of it above 100 counts per second, and locally above 500. It also carried the full alteration package geologists look for on this trend: clay, sooty pyrite, and specular hematite (mineral changes rock undergoes near uranium). The target sits on the Andrew Lake Fault, the same structure that hosts Orano’s Kiggavik district and its roughly 133 million pounds of uranium.
That address is the whole story. Geiger is the company Rebecca Hunter runs, and Hunter is the geologist who led the Cameco team that discovered the Tatiggaq and Qavvik deposits on this exact ground — so the pattern she’s chasing here is one she’s found before. The counts-per-second readings come from a handheld scintillometer, a tool that flags radioactive minerals qualitatively. The company footnotes plainly that these readings “are not a substitute for, and may not correlate with, uranium grades determined by geochemical assay.” So there is no grade yet, no gram-metre math, and nothing to compare against Kiggavik in pounds. What there is: a structurally-validated hit where the geology says it should be. Over the same three-month period, BEEP.V recorded a gain of approximately 2.4% while the uranium ETF (URA) fell 13.1% and junior uranium peers (URNJ) dropped 11.3% — a roughly 13-to-15 percentage point difference in relative performance during a broad sector selloff.
The honest limits matter. No assays have been reported, so grade is unknown. True width is undisclosed — the ~50 m is down-hole core length, and the drill’s angle to the structure isn’t stated, so real thickness is a guess. This is one hole across a 1.3-kilometre gravity anomaly inside a 17-kilometre corridor, so there is no strike continuity and no way to check whether the hit is isolated. The hole ended in sporadic radioactivity at 350 metres, meaning the system is neither closed off nor defined. And the Qualified Person who signed the technical disclosure is CEO Hunter herself, an insider rather than an independent reviewer. Watch for two things: assay results from hole FOX26-001, which will replace counts with grade, and follow-up drilling inside the anomaly, which the company calls its immediate priority for 2026 and beyond.