Large Sandstone-hosted Uranium Exploration Targets Delineated
Energy and Minerals Australia Limited (EMA), Western Australia’s largest independently-owned uranium developer, is pleased to announce that it has defined:
Exploration Targets1 of 7,600 to 13,000 tonnes U308 (17-29 million pounds) of sandstone hosted uranium mineralisation at grades of 240 to 650ppm eU3O8 in prospects adjacent to the Ambassador Deposit.
These Exploration Targets are additional to the existing JORC Inferred Resource of 27,100 tonnes or about 60 million pounds of U3O8 (see Table at rear)already delineated at the Mulga Rock Deposits (MRD).
The Exploration Targets are three areas of uranium mineralisation identified in historic drilling conducted by previous explorer PNC.
As announced on 19 July 2010, sandstone-hosted uranium prospects were identified within 10 km of the Ambassador Deposit, after analysis of historic drilling. However, the PNC drilling density did not permit the estimation of a Mineral Resource.
EMA has now completed a programme of field work in the prospect areas. Stratigraphic data was collected that is critical to the interpretation of:
· the geology of the areas,
· the styles of mineralisation, and most importantly,
· the potential distribution of mineralisation.
This interpretative work was completed using geological knowledge specific to the MRD area developed by EMA, and other modern exploration techniques.
The three Exploration Targets are contained within confined sandstone layers below the water table, making them potentially amenable to extraction by Insitu Recovery (ISR), a process which has been included in the Ambassador Scoping Study.
Completion of the Scoping Study has been delayed to incorporate the information from this announcement, with finalisation now scheduled for early November.
EMA Managing Director Mr Chris Davis said that “Definition of the Exploration Targets announced today attests to the very prospective nature of EMA’s 1,100 square kilometre landholding surrounding the MRD. Importantly, I would like to acknowledge the ability of the exploration team in applying their pre-eminent expertise in identifying the significant exploration potential announced today.”
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