Bremer Basin (Uranex 100%)
· 5,000m drilling program commenced at Bremer Basin, WA
· Targeting Mulga Rock and Redox Associated Roll Front Style Deposits
· Earlier drilling by Uranex yielded results up to 1m @ 248 ppm U3O8
· Co-Funded by the Western Australian Government
Phase 1 of a 5,000m aircore drilling program at the Company’s 100% owned Bremer Basin Uranium Project, in southern Western Australia, which consists of twelve granted exploration licences covering a total area of approximately 1,300km2 (Figure 1), was completed in late 2010, with results currently being assessed.
The Company is targeting sedimentary, redox related uranium deposits in the Eocene palaeochannels of the Bremer Basin similar to the Mulga Rocks style deposits of the Gunbarrel Basin, and additionally, redox related Frome Embayment style deposits occurring in South Australia. Lignite samples encountered during the current phase of drilling are also being assessed by a specialist coal laboratory.
This new drilling programme builds upon a successful Helicopter Borne Electromagnetic Survey (HEM) to identify the palaeochannels, and two phases of scout aircore drilling. Uranium mineralisation up to 248 ppm U3O8 was identified in 1 metre aircore samples.
A co-funding grant of $67,000 has been awarded to Uranex by the Western Australian Government in support of this programme, reinforcing the Company’s view of the Project’s prospectivity.
Figure 1: Bremer Basin Project Location
