Minerals 260 (ASX:MI6) has identified uranium mineralisation at its Aston Project in Western Australia following the receipt of rock chip assays.
The results from the Jailor Bore Extension prospect showed up to 1,095 parts per million (ppm) triuranium octoxide and up to 518ppm vanadium pentoxide.
Jailor Bore is a 5.5km-by-600m uranium radiometric anomaly, and is considered prospective for calcrete-hosted uranium mineralisation.
Minerals 260, which has a market capitalisation of $32.76 million, notes that regional sampling across other targets at Aston recorded anomalous uranium up to 804ppm triuranium octoxide and 844ppm vanadium pentoxide.
Follow-up fieldwork will be carried out to infill and extend the sample coverage over the anomalies to better define the scale of mineralisation. A review of historic drilling data at Jailor Bore is also underway to support in determining the potential size of the mineralisation system.
Managing Director Luke McFadyen says this is the first time the company has targeted uranium at Aston.
“This multi-commodity approach is consistent with our strategy to maximise the commercial options and potential of all our projects,” he says.
“We are excited to continue developing our understanding about the uranium potential at Astona, while we also continue to plan for our inaugural drilling campaign for lithium this year.”
Minerals 260 has also completed a heritage survey over the lithium targets at Aston in preparation for an inaugural drilling program.
The final clearance is expected to be received in late June, with plans for drilling already underway.
The Aston Project lies 230km east of Carnaron and 850km north of Perth in the Gascoyne region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Minerals 260
