Great annoucnement - three key positives - Southern extension of mineralisation - ISL approval is pending - production coming soon.
Key quotes
"long term ISL plant is viable"
"mineralisation now exceeds 2sqkm"
Curnamona Energy Limited (Curnamona Energy – ASX : CUY, owned 48.2% by
Havilah Resources NL – ASX : HAV) announces that since the last drilling update
it has completed a further 33 holes at its 100% owned Oban prospect. This drilling
has continued to achieve some excellent results, including CEY190 (see attached log)
and has extended significant uranium mineralization (grade thickness > 0.05 m%
eU3O8) several hundred metres further south.
The picture emerging is of richer cores of uranium mineralization within an overall
linear trending mineralised zone that is defined by scattered anomalous results from
previous drilling (see attached map). Curnamona Energy’s drilling to date is
generally insufficiently closely spaced to fully define the higher grade uranium zones,
which are mostly open in one or more directions.
The area of potentially economic uranium mineralization continues to grow and is
now approaching 2 square kilometers. It is evident that sufficient uranium resources
exist at Oban to support a long term in-situ leach operation, although until the
uranium recoveries from the channel sands are established it will not be possible to
obtain a JORC compliant resource estimate. It is for this reason that Curnamona
Energy is proposing to establish a field leach trial to establish the amenability of the
channel sands to in situ uranium recovery methods. To this end a draft Mining and
Rehabilitation Plan (MARP) was recently submitted for approval by PIRSA, and an
environmental survey completed, which are critical steps in the permitting process.
Over the next few weeks it is planned to complete the current round of drilling at
Oban and then move west to the main Yarramba Channel where good encouragement
was obtained from drilling last year.
CURNAMONA ENERGY LIMITED
Bob Johnson,
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