Major expansion for Yilgarn Avon uranium initiative

21 April 2007 | 07:49 Code : 13414 Geoscience events
Mindax Energy has significantly expanded the potential scope of its Yilgarn....

  Mindax Energy has significantly expanded the potential scope of its Yilgarn Avon Uranium Joint Venture with Heathgate Resources affiliate, Quasar Resources, after pegging an additional 2,796sqkm of exploration ground in the South Western Australian Agricultural region.Mindax said yesterday that the Yilgarn-Avon JV now had 5,300sqkm under claim within the ancient Yilgarn Palaeochannel where it is utilising an innovative uranium-in-water exploration technique to search for significant new uranium deposits.During the past six months, the Yilgarn Avon JV has demonstrated significant uranium-in-water values within the Yilgarn Palaeochannel to levels consistent with samples from significant deposits, such as the Yeelirrie uranium orebody. The region is considered highly prospective for both palaeochannel roll front deposits and hard rock uranium resources.The Yilgarn Avon JV includes a collaborative uranium-in-water research project with the Cooperative Research Centre for Landscape Environments and Mineral Exploration (CRC LEME), which is applying mineral speciation modelling and uranium isotope studies to identify where, in drainage, uranium mineralisation might concentrate out of significantly enriched ground waters. Water sampling has already generated uranium anomalism in ground waters to in excess of 1,000ppb U and Mindax is continuing to add to this database.The joint venture tenement portfolio is located in close proximity to a package of tenements recently acquired by ASX-listed AXG Mining Ltd, including areas that historically returned uranium-bearing autonite in a water bore, from a depth of 30m, and uranium-bearing soil in a farm pit.Mindax’s Managing Director, Greg Bromley said the JV partners were pleased to have pegged the new area to supplement the substantial, current Yilgarn Avon ground holdings.“We already know that we have significant uranium in water in these drainages,” Mr Bromley said. “We can map its movement and we can now identify where it is likely to have settled.”“The key sites are the coals and lignites developed deep in the palaeochannels early in their development. This material is a common source of uranium in the right conditions. It has been identified in this palaeochannel in past government programs and there is much to learn about its distribution,” he said.“We have now further strengthened what was already a very significant regional ground position within the palaeochannel system, in securing those areas where we believe the uranium should concentrate,” he said.“The target mineralisation is expected to be similar to those roll front uranium deposits developed along the Louisiana and TexasGulfCoast in North America,” Mr Bromley said. “The geological knowledge of the palaoechannels suggests that the mineralisation, if confirmed, could be particularly suitable for ISL technology extraction.”

tags: QAZVIN

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