Cauldron Energy (ASX:CXU) has received approval from the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for its Program of Works (PoW) at the Yanrey Uranium Project in Western Australia.
The approved PoW has been designed to target extensions to the uranium mineralisation at the Bennet Well deposit and assess the potential for vanadium mineralisation.
Cauldron’s exploration team is currently onsite at the project, mapping the outcrops and taking surface samples, with the aim of understanding the geological context ahead of the PoW beginning.
Commenting on the PoW approval, Cauldron Energy Chief Executive Officer (CEO) Jonathan Fisher says: “We also look forward to further evaluating the area in which anomalous rare earth elements, such as Ce, La, and Nb, were reported historically.
“This is consistent with our thematic of ‘Exploring the Energy Transition’ … while the ability to monetise the world-class uranium resource remains constrained by the current WA government uranium policy”
This is consistent with our thematic of ‘Exploring the Energy Transition’ and the first concrete steps of delivering value from Yanrey through alternative commodities while the ability to monetise the world-class uranium resource remains constrained by the current WA government uranium policy.”
Additionally, Cauldron has commissioned a review of all available geophysical data, which involves the engagement of external geophysicists to undertake reprocessing of regional AEM line data to potentially uncover new targets for drilling, alongside improving geological understanding.
The company says the results of this work are anticipated ‘soon’ and will be reported in due course.
Cauldron Energy is an ASX-listed exploration and development company. The company’s portfolio of ‘high-quality’ advanced projects includes the Blackwood Goldfield, River Sands, and Yanrey Uranium projects. Yanrey is home to the Bennet Well uranium deposit.
Write to Aaliyah Rogan at Mining.com.au
Images: Cauldron Energy Ltd
