PDM has unearthed a very significant u target at Cloncurry. They have identified a significant limestone system that overlays a layer of shale that acts like a seal and the limestone layer appears to have "collected" quantities of u. The limestone system has been tracked along surface for at least 5,000 meters where 11 samples all contain carnotite (yellowcake) which is essentially a number of metals found with u. PDM has identified that this system has a very large "footprint" within its lease area. Looking at their last quarterly and the map provided, the target is contained within a 5x5 km area (at least).
This might explain why the sp is looking so "vertical" at the moment and why Warick Grigor and Far East Capital are backing management. Work is still at an early stage but my sense is that a number of folk have been on the property and have tracked the uraniumiforous limestone layer (which is from 2 to 5 meters thick) along its extremely long exposed edge and that a large number of samples have been tested with hand held scintillometers which give a reasonable approximation of parts per million of u. This might explain the very bullish behavior of the sp.
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