Australian ASX Listed Junior Uranium Explorer, Thundelarra Exploration announced that it has received assay results from a recent diamond drill hole at the Ngalia Basin uranium project intersecting high grade mineralization. The assay results have confirmed the presence of three distinct zones of uranium mineralization.
The drill hole, TNG006MD in the Northern Territory project encountered a mineralized zone assaying 1,771 ppm U3O8 over 80 centimeters including 50 centimeters at 2,316 ppm U3O8. This was intersected on an oxidation front associated with a highly altered conglomerate within the Mt Eclipse Sandstone.
This mineralization is of a similar style to the nearby Bigrlyi deposit owned by Energy Metals Limited, Paladin Energy and Southern Cross Exploration NL. Notably, the vanadium was not present in the mineralization.
The company said that 20 meters below the conglomerate, a steeply dipping fault zone was intersected. This structure appears to have been a conduit for uranium bearing fluids which have mineralized 1.5 meter selvedge zone around the fault assaying 318 ppm U3O8.
Of potentially greatest significance hole TNG006MD intersected 12 meters zone of strongly anomalous mineralization within the overlying Tertiary sediments. The average grade across this zone was 106 ppm U3O8 and included 32 centimeters at 1,547 ppm U3O8 and 72 centimeters at 296 ppm U3O8.
This intercept is interpreted to represent the margin of a paleochannel and is the first known occurrence of Beverley or Four Mile style paleochannel mineralization in the Ngalia Basin. This style of mineralization can yield large, high grade uranium resources that are amenable to In Situ Recovery.
Thundelarra has recently been awarded USD 100,000 grant from the Northern Territory government to assist funding of an airborne electromagnetic survey. This survey, scheduled to commence in July, is specifically targeting the identification of paleochannels within the Company’s 3,300 square kilometers Ngalia Basin tenure.
No comments:
Post a Comment