Epsilon confirms extensive palaeochannel system

Uranium exploration company, Epsilon Energy has confirmed the existence....

  Uranium exploration company, Epsilon Energy has confirmed the existence, and successful mapping, of an extensive palaeochannel system at the Balladonia Uranium project.The channel system is prospective for sandstone-hosted uranium deposits and was identified from the results of an airborne electromagnetic survey at the Belladonna North prospect.The identified palaeochannel system represents an ancient drainage network across the project site. Uranium is leached by groundwater from adjacent radiogenic granitoids and transported through the permeable sediments that occur in the ancient river channels. When the right chemical environment is encountered the uranium is precipitated, and in favourable circumstances this may create sufficient volume and concentration of uranium so as to comprise an economic uranium deposit.Epsilon Energy Managing Director, Matt Gauci said the results confirmed the huge prospectively of the project area for sandstone-hosted uranium deposits“These results are important as they allow us to identify which areas are most prospective for sandstone hosted deposits, following the geological models established by the Beverley or nearby Mulga Rock deposits and also Epsilon’s analysis of North American deposits,” Mr Gauci said." As one of the largest continuous uranium exploration projects in Australia, we are excited by this project’s prospects and very eager to commence drilling. “The Balladonia project area is very large and this airborne EM survey, in combination with high gamma log responses previously reported, will greatly assist in delineating drill targets, understanding geological controls on uranium deposition, and the continued development of a regional-scale uranium exploration model,” he said.“No modern systemic exploration has been carried out at the project since Rio Tinto successfully identified and drilled parts of the area in the early 1980s. So this is a real first for the area, which will give us a great advantage in carrying out our exploration program efficiently and effectively.”