Cauldron Energy Limited (Stock Symbols – ASX: CXU, OTCMKTS: CAULF), a mineral resource development company, engages in the exploration of uranium and base metal projects in Australia and Argentina.
It also explores for vanadium, gold, silver, nickel, copper, cobalt, and base metals.
The company holds a 100% interest in the Yanrey uranium project that comprises 11 granted tenements covering an area of approximately 1,270 square kilometers in Western Australia.
The company also has and application for an exploration license in the same area for another 220 square kilometers.
The Yanrey project is prospective for a sedimentary hosted uranium deposit which is also home to the Bennet Well uranium deposit.
The company notes the following highlights:
- Total uranium resource of 38.9 Mt at 360 ppm eU3O8, for total contained uranium-oxide of 30.9 Mlb (13,990t) at 150 ppm cut-off. Preliminary economic evaluation has shown that a 150ppm eU3O8 average grade over at least half a metre is potentially economic for ISR type uranium production at the Yanrey Project
- Tenements lie within an area historically proven to host significant uranium deposits, evidenced by the Manyingee uranium deposit (as at 15 August 2015), which has a published indicated resource of 15.7 million pounds at a grade of 850ppm U3O8 and an inferred resource of 10.2 million pounds at a grade of 850ppm U3O8
- Targeted exploration has allowed Cauldron to clearly identify the increasing potential to further establish uranium resources at the Yanrey Project with multiple prospects over its large tenement holding.
- Cauldron has not undertaken field work at Yanrey Project since the announcement on 20 June 2017 of a ban of new uranium mines in Western Australia by minister Bill Johnston. The policy heading for uranium exploration in Western Australia remains unclear at this time.
The company’s Bennet Well Deposit highlights:
Cauldron has successfully completed several exploration programs at the Bennet Well Deposit since commencing exploration in 2006, culminating in the Mineral Resource Estimate (2012) below.
The mineralisation at Bennet Well is a shallow accumulation of uranium hosted in unconsolidated sands close to surface (less than 100 m downhole depth) in Cretaceous sedimentary units of the Ashburton Embayment. The Bennet Well deposit is comprised of four spatially separate deposits; namely Bennet Well East, Bennet Well Central, Bennet Well South and Bennet Well Channel.
The Mineral Resource (JORC 2012) estimate is:
- Inferred Resource: 16.9 Mt at 335 ppm eU3O8 for total contained uranium-oxide of 12.5 Mlb (5,670t) at 150 ppm cut-off;
- Indicated Resource: 21.9 Mt at 375 ppm eU3O8 for total contained uranium-oxide of 18.1 Mlb (8,230t) at 150 ppm cut-off;
- total combined Mineral Resource: 38.9 Mt at 360 ppm eU3O8, for total contained uranium-oxide of 30.9 Mlb (13,990t) at 150 ppm cut-off.
It also holds an interest in the Rio Colorado project covering an area of approximately 762 square kilometers of exploration license in Argentina.
The company was formerly known as Scimitar Resources Limited and changed its name to Cauldron Energy Limited as a result of its merger with Jackson Minerals limited in June 2009.
Cauldron Energy Limited is based in West Perth, Australia.
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