Cauldron Energy (ASX:CXU) has extended the near-surface mineralisation within its Manyingee South deposit, part of the Yanrey Uranium Project in Western Australia.
The results from a further 17 holes show continuous mineralisation extends for at least 3km north-south and over channel widths east-west of up to 1,100m, with two higher grade zones being delineated.
The company reports drillhole 24YRAC103 intersected 4.34m @ 1,021 parts per million (ppm) equivalent uranium from 61.66m; while drillhole 24YRAC104 intersected 2.28m @ 954ppm equivalent uranium from 63.5m and 1.84m @ 2,918ppm equivalent uranium from 68.76m.
CEO Jonathan Fisher says the latest results have confirmed the presence of a “high-grade” area in the southern portion of the prospect and increased the width of mineralisation from 600m to over 1,100m.
“Drilling has also located an additional zone of mineralisation 1,700m further to the north-west,” Fisher says.
“The drilling at Manyingee South has enabled a better understanding of the paleochannel system in the immediate area and further improves our understanding of the regional prospectivity.
“Forward planning is focusing on other targets which can be systematically tested in future drilling campaigns.”
Fisher adds that the next paleochannel target to be tested will be target 14, which lies 3km southeast of Manyingee South, where similar features are evident.
“Drilling at target 14 is expected to commence within the next seven days,” he says.
Cauldron, which has a market capitalisation of $20.44 million, says drilling has largely closed out the termination of the redox front in the north, however, potential remains for extensions further to the northwest and northeast.
Ongoing drilling at the deposit continues to intersect mineralisation developed at longitudinally consistent prominent stacked redox boundaries, which are interpreted as being stratigraphically equivalent to uranium mineralisation observed at the nearby Manyingee deposit.
The aim of the latest drilling program is to test for further repetitions and extensions to roll-front-type uranium mineralisation discovered to date, as well as better locate and define the closure of the roll-front where mineralisation is typically thicker and higher grade. Drilling also aims to define the eastern and western paleochannel margins to constrain the mineralised palaeovalley.
Following on from the latest exploration work at Manyingee South, Cauldron plans to drill test uranium targets west of holes 24YRAC089 and 091.
Meanwhile, the Buurabalayji Thalanyji Aboriginal Corporation has completed heritage clearances over all of the company’s exploration targets within the Yanrey Project. Access tracks and pads have been cleared into all proposed drillhole locations.
Cauldron has lodged program of work applications with the Department of Energy, Mines, Industry Regulation and Safety, which have been approved for drilling.
The Yanrey Project is located 80km south of Onslow and covers 1,150km2 in the Gascoyne Province. The project hosts the Bennet Well deposit which contains 30.9 million pounds of uranium oxide.
Cauldron Energy is an explorer and developer focused on identifying and discovering critical minerals.
Write to Aaliyah Rogan at Mining.com.au
Images: Cauldron Energy
