Gladiator Resources (ASX:GLA) has been granted a ‘key’ 46km-square uranium prospecting licence (PL12354/2023) which hosts ‘high-grade’ uranium within the Mkuju Project area in Tanzania.
The South West Corner (SWC) tenement was previously owned by Mantra Resources (ASX:MRU), which was subject to a takeover by Uranium One for about $1 billion.
Gladiator is looking at kicking off an aircore program in the area in Q4 2023, aiming to confirm historical drill results reported by Mantra in 2008. This process will recover the shallow, soft material and penetrate beyond where the auger holes stopped to reach the base of the mineralisation.
Gladiator is looking at kicking off an aircore program in the area in Q4 2023, aiming to confirm historical drill results reported by Mantra in 2008
Additionally, the drilling will test the continuity of the mineralised layer laterally and with depth. The work will assess the influence of near-surface processes on the mineralisation already intersected, alongside the potential development of primary mineralisation below the weather saprolite zone.
Some of the 2008 results include hole MRSA04 with 5m @ 700 parts per million (ppm) U3O8 from 7m, including 2m @ 1,300ppm U3O8; and hole MRSA12 with 8m @ 1,273ppm U3O8 from surface, including 2m @ 3,825ppm U3O8.
The company’s share price has jumped 9.09% to $0.012 as of 12.40pm AEST on June 1 2023.
SWC has a ‘relatively intense’ 3.5km by 1.8km radiometric anomaly and multiple historic ‘excellent-grading’ uranium intersections, some ending in mineralisation.
The tenement is located 50km south of Mantra/Uranium One’s ‘world-class’ Nyota deposit in a similar geological setting.
Gladiator Resources is an exploration and mining company focused on uranium and gold. The company holds 8 exploration licences covering about 1,810km-square in Tanzania. Additionally, 4 of the licences are contiguous, forming the Mkuju Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Gladiator Resources Limited
