Maximus announces first uranium resource

Maximus Resources has announced the first estimated inferred mineral resource....

  Maximus Resources has announced the first estimated inferred mineral resource for the company’s Windimurra uranium prospect within the Narndee Project in Western Australia.The South Australian-based company also yesterday outlined additional uranium potential within its Narndee Project area.Maximus said consultants Hellman and Schofield had estimated an inferred mineral resource at the Windimurra prospect of 19 million tonnes, averaging 180 parts per million U3O8 for a contained U3O8 content of 3,400 tonnes.The resource estimate is confined to the 100% Maximus owned exploration licence E58/273.The Windimurra uranium resource is hosted within shallow calcrete layers from zero to 6.5m in depth below surface and is potentially easily mineable. The resource calculation is based on a cut off of 100 ppm U3O8, and the geochemical analyses from, and down hole geophysical probing of, 431 shallow aircore drill holes at a maximum drill spacing of 320m by 160m over an area of 7.6km by 1.8km.All mineralisation is within 6.5m of surface and the mineralised zones vary in vertical thickness from 0.5m to 6m. A bulk density of 1.8 tonnes per bank cubic metre was assumed for the calcrete host to mineralisation. Maximus’ Managing Director, Dr Kevin Wills said that although metallurgical results are awaited, the main uranium mineral is carnotite, a mineral common to the shallow palaeochannel style of mineralisation encountered elsewhere in Western Australia. Dr Wills said the main palaeochannel hosting the Windimurra Uranium inferred mineral resource extended further than the area available through heritage clearances undertaken for the initial aircore drilling.“Mineralisation exceeding 100ppm U3O8 is generally open in several lateral directions,” Dr Wills said. “Maximus has undertaken heritage clearances to ensure it has the right to extend its drilling at the Windimurra prospect and in the Wondinong Palaeochannel to the north where 100% Maximus tenure contains part of the radiometric anomaly that comprises the Wondinong Uranium Project owned by Aura Energy,” he said.