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Background
The Bynoe uranium project area is located 60km south-west of Darwin. The project area is contained within eight granted exploration licences and one exploration licence application covering a total area of 500km2.
The project area is located on the western flank of the Pine Creek geosyncline which is host to world class uranium deposits such as Ranger, Narbalek and Jabiluka. Uranex’s tenements incorporate a number of key structural elements considered favourable for the formation of unconformity-style mineralisation that typify the major uranium deposits of the eastern Pine Creek region and features of the uranium deposits at Rum Jungle which is located about 40km east of the Bynoe projects. Some 3,407 tonnes of U3O8 was mined from the Rum Jungle area in the 1960’s. This was contained in two main deposits Whites (396,000 tonnes @ 0.27% (2.7kg/t U3O8) and Rum Jungle Creek South (663,500 tonnes @ 0.43% (4.3kg/t U3O8).
Click here to view Tenement location
Uranex has recognised the potential for blind primary high grade mineralisation within its group of licences, in areas capped by laterites and other surface deposits. Historic drilling indicates that uranium mineralisation is hosted within the structures defined by Uranex. These structures will provide the targets for initial drill testing. Careful definition and targeting of potential host settings to highlight discrete targets for drill testing is proposed.
Exploration to December 2006
The Company commissioned airborne radiometric and magnetic surveys over a portion of the tenement group. The survey was completed in November 2006 and the data was subjected to specialist processing and target generation. This process identified several strong discrete uranium anomalies associated with favourable geological settings.
Click here to view Uranium Anomalies
Work Program Planned for 2007
Following the cessation of the monsoon season (May) the Company plans to conduct a field program to investigate strong uranium responses identified by the airborne survey.
The program will investigate grid based ground scintillometer surveys, soil sampling, trenching and reverse circulation drilling.
