Duketon Mining (ASX:DKM) is gearing up for a range of exploration activities at its Doris Uranium Project about 120km north-northwest of Meekatharra in Western Australia.
The $20.16 million market capitalisation company says further reconnaissance to determine access to other prospects and tenements, soil geochemistry and rock chip sampling, mapping, target identification, reverse circulation drilling, and extensional drilling of historical holes, will all be undertaken.
Duketon has held tenure in the areas for over 2 years, however, no effective on ground exploration has occurred in these areas for over a decade.
The company also announces it completed a reconnaissance trip to the project in late 2023.
Sampling of drill spoils and rock outcrops was completed in line with the site visit and sent for assay. According to Duketon, the maximum triuranium octoxide (U3O8) value was 223 parts per million (ppm).
The tenements cover uranium mineralisation within the Despair Granite that was first identified in 1978 and also cover a ‘large’ thorium drainage anomaly over the Yarlaweelor Gneiss Complex to the west of the Despair Granite.
‘Significant’ historical drill intercepts have demonstrated grades up to 773ppm, 588ppm (including 1,380ppm), and 560ppm U3O8.
Anomalous rare earth elements (REEs) have also been identified in historic rotary air blast drilling within the thorium drainage anomaly.
Managing Director Stuart Fogarty says Doris is a “technically interesting uranium play” at a time of positive uranium sentiments.
“It has high grade historical drill intercepts, significant exploration potential as evidenced in the rock chip data and radiometric data and favourable historical metallurgical work. With uranium prices at their highest since 2007 and recently trading at over US$100 a pound, there is a platform to reassess and re-evaluate the Doris Uranium Project.”
The Doris Project was originally identified by private company Agip Australia in 1978, which completed magnetic and radiometric surveys, mapping, rock sampling, and petrology, leading to the identification of the Doris, Doris North, Kangaroo Valley, and Kangaroo Ridge prospects.
Drilling to date at Kangaroo Ridge, Kangaroo Valley, and the Doris prospects has returned ‘significant’ mineralisation within the bedrock.
The project comprises 2 granted tenements and one application for a total land area of 168km-square.
Duketon Mining has a portfolio of tenements considered prospective for nickel.
As of 30 December 2023, Duketon had $13.6 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Duketon Mining
