Cauldron Energy (ASX: CXU) has extending the near-surface, strongly uranium mineralised north-south trend to greater than 3 kilometres in length and up to 1,100m in width at Manyingee South within the Yanrey project in Western Australia.
The company has completed 59 air-core drill-holes for a total of 4,998m at the Manyingee South.
The Manyingee South palaeochannel is located approximately 17km to the north-east of Bennet Well and 4.5km south-southwest of the Manyingee Deposit.
Wide-spaced drilling (400m x 200m) has progressed along and across a north-south trending palaeochannel to demarcate the width and extent of roll-front(s)-type uranium mineralisation. So far, continuous mineralisation has been shown to extend for at least 3 kilometres north-south and over channel widths east-west of up to 1,100 metres, with two distinctly higher-grade zones being delineated.
Cauldron’s fully owned Yanrey Uranium Project is located approximately 80 km south of Onslow and covers an area of ~1,150 sq. km and is located within a highly prospective, mineral-rich region containing multiple uranium deposits including the neighbouring Manyingee Deposit (owned by Paladin Energy).
The Yanrey Project covers a prospective northeast-southwest trending Cretaceous- age coastal plain developed along the western margin of the Gascoyne Province. This prospective trend extends for at least 140km in length, of which Cauldron holds 80km under granted tenement.
The Yanrey project area hosts the Bennet Well Uranium Deposit which contains 30.9 Mlb of uranium-oxide (38.9Mt at 360ppm eU3O8 and is a globally significant uranium deposit. Laboratory based test work has confirmed that the Bennet Well uranium mineralisation is amenable to in situ leaching. Much of the Yanrey project area remains ineffectively tested or untested, with 22 high priority targets identified for drilling.
“The drilling programme at Manyingee South continues to deliver exciting results with these latest drilling results confirming the presence of a high-grade area in the southern portion of the prospect and increasing the width of mineralisation from 600 metres to now over 1,100 metres and still remaining open," CEO, Jonathan Fisher, said.
"Drilling has also located an additional zone of mineralisation 1,700m further to the north-west.
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 focussing on other targets which can be systematically tested in future drilling campaigns.
The next paleochannel target to be tested will be Target 14, lying approximately 3km southeast of Manyingee South, where similar features are evident. Drilling at Target 14 is expected to commence within the next seven days."
