Epsilon targets multiple uranium deposits

Uranium exploration company, Epsilon Energy has defined multiple uranium....

  Uranium exploration company, Epsilon Energy has defined multiple uranium deposit targets and is to commence drilling at its Balladonia Uranium project, covering 7500sqkm in the Eucla Basin in Western Australia.The Balladonia Uranium project is one of Australia’s largest continuous uranium exploration projects, however no modern exploration tools, or targeted uranium exploration, have been applied to the project since Epsilon commenced exploration in 2007. Regional and specific targets defined by Epsilon will form the basis of an ongoing extensive drilling program over the coming months, in what the company believes is an emerging uranium province, geologically comparable with proven major uranium provinces in the USA, such as the Grants and South Texas districts. Specific targets within the Balladonia Uranium project have similar geological and geophysical characteristics to established uranium deposits, including Mulga Rock, Honeymoon, and Manyingee. Epsilon said the key targets have been generated in conjunction with the Centre For Exploration Targeting. Epsilon Managing Director, Matt Gauci said there had been limited uranium exploration at the project, yet the there remained strong potential to delineate uranium deposits, given the work completed to date. “This is a significant milestone for the company,” Mr Gauci said. “We have worked systematically on generating sandstone hosted uranium targets over a large under-explored area, which contain comparable geological, geophysical and geographical characteristics to major uranium regions in the USA and well-known deposits in Australia.” “Given the geology, the size and number of targets, and the aggressive exploration program underway, there will be exciting news flow over the coming months," he said