The Company’s inaugural drilling programme at the Eagle Uranium Project in Wyoming, USA, was successfully completed during October and November 2006, with 32 holes drilled for more than 3800 metres. Numerous targets were evaluated over the entire 2260 acre project.
Drilling has confirmed that the Eagle Uranium Project hosts extensive shallow uranium mineralisation, with grades greater than 300ppm eU3O8 recorded in more than 60% of the holes drilled. The
Company has commenced calculation of an inaugural JORC-compliant resource for the Eagle Uranium Project.
Approximately 110 holes have now been drilled at the Eagle Uranium Project and a further 115 holes have been drilled previously at the Company’s adjacent Cyclone Rim Uranium Project. Based on results from these drill holes the Company’s exploration target estimates are for approximately 2 million pounds of U3O8 are present at the Eagle Project and a further 3 million pounds of U3O8 at the Cyclone Rim Project.
Considerable potential remains beyond these initial targets along strike and at depth. Both deposits are shallow and amenable to in-situ leaching and/or open-pit mining.
Cheers,
Brantley
BLR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
