Cauldron Energy intersects high grade uranium at Yanrey project in Australia

30 October 2012 (Last Updated October 30th, 2012 18:30)

Australian exploration company Cauldron Energy has identified high-grade uranium at the Yanrey Uranium Project in Western Australia.

Uranium ore

Australian exploration company Cauldron Energy has identified high-grade uranium at the Yanrey Uranium Project in Western Australia.

The firm has found a peak grade intersection of 9,970ppm eU3O8 in hole YNMR048 at Bennet Well East following the start of a 5,000m drilling programme.

The programme was designed to identify potential extensions to the Bennet Well deposit and explore further identified palaeochannels within the project.

YNMR048 was found to contain 3.3m at 1,596ppm from 57.7m, including 2.21m @ 2251ppm from 57.7m.

Located approximately 85km south of Onslow in the north-west of Western Australia, the high-grade deposit represents a Sandstone Hosted Roll Front Uranium deposit.

Cauldron operations head Simon Youds commented on the significant peak grade intersection saying, "The 200m drill spacing used in this first pass drilling gives a strong potential for a Sandstone Roll Front Uranium deposit in the vicinity of the location of this hole, potentially over a large area."

Drilling at the Bennet Well East site has, until now, intersected a high grade paleo-channel covering an area of 1.6km in length and 120m in width.

Cauldron has completed six drilling programmes at the deposit in the past three years.

The company owns the prospects under a joint venture with Australian uranium exploration company Atomic Resources.


Image: Cauldron Energy has intersected more reserves at the Yanrey Uranium Project. Photo: Svdmolen