Wilcherry uranium discovery

Aircore and slimline reverse circulation drilling results have outlined a new uranium....

  Aircore and slimline reverse circulation drilling results have outlined a new uranium discovery on Lincoln Minerals’ Wilcherry Project (EL 3690) northeast of Kimba on northern Eyre Peninsula.The discovery is within the southern Gawler Craton, South Australia.The results include a 4m interval grading 0.05% uranium accompanied by 0.1% base metal (Zn+Pb+Ni+Cu+Co) in saprolitic clay associated with pyritic and graphitic units in WCAC024 (72-76m). A second hole intersected uranium mineralisation up to 0.026% + 0.07% base metal (WCAC004, 52-56m).These significant results for holes completed in late October 2007 have identified two potential zones of saprolitic uranium mineralisation approximately 1.5km apart. The results are adjacent to uraniferous calcrete-soil anomalies with up to 17ppm U. LML is planning further exploration work at Wilcherry in the first half of next year to investigate the potential of these uranium and base metal occurrences. The discovery comes on top of Lincoln Minerals’ recent discovery of lateritic nickel on central Eyre Peninsula. These new discoveries combined with ongoing drilling at Lincoln Minerals’ Gum Flat iron ore project give the company an exciting future. Lincoln Minerals last week completed a diamond drilling program at Gum Flat and last week completed a detailed gravity survey on the company’s Torrens iron oxide copper-gold-uranium (IOCGU) project just north of Port Augusta.