Cauldron Energy Ltd (ASX:CXU) believes its Yanrey Uranium Project contains significant undiscovered uranium resources, following positive results from a new passive seismic survey.
The results highlighted multiple new in-situ recovery (ISR) uranium targets at the Flagstaff prospect over areas of unusual basement complexity.
The company says the structural information gleaned from the survey will assist in further developing the systems-style exploration model at the project. Unlocking uranium potential
Cauldron chairman Simon Youds said the findings could help unlock the uranium potential of the Yanrey project.“Our ultimate objective is to explore for uranium mineralisation amenable to extraction by ISR,” he said.“Economic deposits of sandstone-hosted, palaeochannel-style uranium can be mined using ISR in the lowest cost quartile of uranium mined globally.“This characteristic makes these deposits extremely attractive for mining at any uranium price and necessarily must form the basis of any uranium resource portfolio.“The recent passive seismic results justify the confidence we have […]
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content