Cauldron Energy (ASX:CXU) has confirmed a near-surface, strongly uranium mineralised trend at the Yanrey Project in Western Australia after receiving assay results from eight drillholes.
The latest discovery extends for at least 2km and is open to the north, south, east and west.
Cauldron Energy, which has a market capitalisation of $25.75 million, says ongoing drilling will aim to extend mineralised intercepts further southward towards the tenement boundary.
Drillholes 24YRAC058 and 24YRAC059 returned results with stacked zones of uranium mineralisation, recording up to 880 parts per million (ppm) equivalent uranium over 3m.
The company says the latest results provide further evidence of roll-front uranium mineralisation. Results include 2.46m @ 407ppm equivalent uranium, and 0.74m @ 489ppm equivalent uranium.
CEO Jonathan Fisher says Manyingee South continues delivering robust, high-grade uranium mineralised intercepts, now demonstrating 2km of continuous mineralisation.
“The drilling rig is continuing to evaluate and discover further uranium mineralisation at the Manyingee South target area and we look forward to further drilling results being released to market in quick succession as drilling continues with pace,” Fisher says.
“The excellent results at Manyingee South hasten my excitement to test a number of the other palaeochannel systems in the company’s project area, a number of which were considered high-ranking targets of equal priority to that of Manyingee South.”
A total of 12 hotels were drilled for 1,090m at the Manyingee South prospect to locate the termination of the roll-front for follow-up drilling.
Manyingee South is considered a high-priority target and lies 4.5km south of Paladin Energy’s (ASX:PDN) Manyingee deposit.
The Yanrey Project lies 100km south of Onslow and covers a 1,150km2 area within a highly prospective, mineral-rich region containing multiple uranium deposits.
Write to Aaliyah Rogan at Mining.com.au
Images: Cauldron Energy
