MFE magnetite mines limited

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  1. 3,849 Posts.
    Positive results from Egnar, USA

    Egnar Project percussion drilling rig


    Royal Resources Ltd has completed the first drilling program on the Egnar uranium project in western Colorado, USA.

    Six widely spaced holes were drilled at sites roughly along the NNW/SSE strike of the Dolores Anticline spanning 16km of the Egnar Project.

    The purpose of the program was to confirm the locations of favourable lithological trends in the upper and lower rims of the Salt Wash Member of the Jurassic Morrison Formation.

    In fluvial Salt Wash sandstones, favourable areas for the occurrence of ore-grade uranium/vanadium mineralisation occur in the point bar environment along the margins of roughly east-west trending zones of anomalously thick (>30m) monolithic (relatively free of shale breaks) sandstone depositional units (rims).

    Large volumes of uranium bearing groundwaters move through the permeable sandstone channels depositing the uranium minerals under reducing conditions caused by the presence of carbonaceous material (detrital plant debris) located in the point-bar sediments at the edge of the main rims.

    At completion of the drilling program, six air-rotary holes totalling 1,138m were completed, sampled from collar to bottom at approximately 3m intervals and logged with gross gamma and electrical logs where water was available. The report is preliminary because analysis of drill cuttings is ongoing.

    According to the company, the initial regional drilling program has returned very positive results. Four of the six holes intersected the favourable Upper, Middle and Lower rim massive sandstone depositional units with two of the holes recording anomalous though sub-economic uranium mineralisation.

    The planning of a follow up drilling program is underway with drilling scheduled to commence when all access permits are in place and winter weather conditions improve. The follow-up program will step out north and south from the initial holes, targeting the prospective point-bar sediments at the edge of the thicker rim sequences.

    - 11 Feb 2008

 
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