News: Cauldron Energy executive director steps down

Cauldron Energy (ASX:CXU) executive director Brett Smith has stepped down from his position with effect from 23rd June 2015.

The company has appointed Mark Gwynne as a non-executive director of the company with effect from 23rd June 2015.

In its March quarterly, Cauldron outlined plans to carry out in the September 2015 Quarter an initial field leach trial at its Yanrey Uranium Project in Western Australia subject to obtaining approvals.

This followed the identification of a zone of high grade uranium mineralisation peaking 2,500ppm eU3O8 at the Bennet Well East area of its Bennet Well deposit.

It has also completed the relogging program of diamond drill core from Bennet Well East and Bennet Well Central drilled in December 2014.

This is being used to assist in the revision of the current mineralisation model at Bennet Well, with the aim of improving the exploration model to fundamentally improve the odds of success.

Resources currently stand at 18.6 million pounds eU3O8 with 29% in the Indicated category.

As at 31st March 2015, Cauldron had $1.4 million in cash at bank.

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