Uranium and Manganese explorer in Australia MC: $5m
Cash: $700k (getting low)
Given the run we are starting to see with Uranium specs figure this one could offer some big leverage to any Bull Run if it happens
Company has several U projects in NT, one of which managed to attract the interest of mining Giant RIO who farmed into it, when one looks at the surface samples theyve uncovered its not hard to see why Rio farmed in here
Also has one of only 2 or 3 DSO Manganese projects in Australia
Has had its long standing chairman step down, he was well respected as geo type operator but lacked the ability to drive the company as a listed entity so hes finally stepped down. Hopefully new Chairman can do a better job with promoting the story and prospects
Uranium Projects
Eclipse Metals Ltd has currently 16,887 km2 of highly prospective uranium ground in the Northern Territory, covering areas within West Arnhem (Alligator Uranium Fields) and within the Ngalia Basin in Central Australia. This includes the Devil’s Elbow uranium-gold-palladium prospect (Part of the Liverpool Projects) located within EL27584, which yielded high grade surface uranium assays of 3.2% U3O8, 3.7% U3O8, 4.40% U3O8 and 5.8% U3O8, with 38.1 g/t Au and 28.02 g/t Pd related to fractures within altered amygdaloidal basalt of the Nungbalgarri Volcanics. Eclipse project areas are prospective for Unconformity Uranium Style and Sandstone/Calcrete-Palaeo-channel Uranium. The Projects are in the early stages of exploration with strong potential of delineating uranium, gold, platinum, palladium and base metals.
Has many other U projects in key areas and around key deposits as can be seen below
Mary Valley Manganese
The Mary Valley Manganese Project is located approximately 14 road kilometres southwest of Gympie Township in Queensland. The largest mine on the tenements controlled by Eclipse Metals Ltd was at Amamoor No.1 Manganese Deposit (19,630t @ 51% Mn). The mine opened in 1920 and operated and then from 1960. Nearest port from the project is at Brisbane approximately 165 rail kilometres. A total of 31,477 tonnes of ore was mined from the Mary Valley Project (within the 3 Exploration Permit Mineral areas) with the manganese grade ranging from 42% to 51% Mn with the limits of all the deposit not known either along strike or at depth.
Historical assays have also indicated that the Mn, Fe, Si and P levels are all within the direct shipping ore parameters which further confirm the economic potential of standalone mining operations over the Mary Valley Manganese Project. The project has 198 square kilometres of favorable lithology are present within the 2 Exploration Licence (EPM) areas.
Column 1Column 2Column 3Column 4
Name
Working of Mined Areas
Years of Production
Ore production (tonnes)
Donaldson’s Deposit
22.86m long x 9.14m wide x 2.74m deep
1949, 1960
25t @ 46% Mn, 15% silica
Mooloo T.O Prospect
15.24m long x 2.13m wide x
Unknown
42% Mn, 11.6% silica, 5.8% Iron oxide
Mt Mooloo Prospect
Trench 1 and 2: 13.71m long, 2.74m deep
1915
81t @ 50.3% Mn, 1.9% silica, 7.4% Iron oxide
Trench 2: 15.24m long, 2.13m wide x 1.52m deep
Robert’s Prospect
6.40m long x 4.26m wide x 3.04m deep
Unknown
15t @ 38.6% Mn
Dagun Prospect
6.1m long x 2.4m deep
1921, 1949
100t @ 48% Mn, 5% silica
Eel Creek
15.24m long x 2.13m wide
(20min delay)