Venture begins drilling for uranium at Maitland Channel

30 May 2007 | 07:35 Code : 13957 Geoscience events
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Australian-based mineral exploration company Venture Minerals has commenced....

  Australian-based mineral exploration company Venture Minerals has commenced drilling targeting uranium mineralisation at its Maitland Channel Project, located in the north-eastern goldfields region of Western Australia.The 687sqkm of highly prospective tenure for calcrete-hosted uranium mineralisation is situated within a major uranium province, currently hosting published resources of 83.2 million tonnes at 0.087% U3O8 for 72,400 tonnes of U3O8. The Aircore Drill Rig commenced drilling this week, targeting the Southeast Yeelirrie and Southeast Maitland uranium prospects, both of which are located within the Maitland Channel Project (total tenure 1,391sqkm). Venture’s planned reconnaissance drill program is designed on a 2,000m by 800m spaced pattern, targeting the interpreted channel system to a depth below the calcrete horizon, which is approximately 30m. Every third hole drilled will be drilled to blade refusal, up to 120m, to determine bedrock lithology. The Maitland Channel Project covers approximately 150km of the Tertiary channel system that includes the Yeelirrie, LakeMaitland and

Lake Way
calcrete-hosted uranium deposits. Venture Minerals’ Managing Director, Andrew Radonjic said the commencement of the drilling of its uranium tenements was an exciting phase for the company. “There is no doubt we are within a major uranium province and the drilling we are embarking on is the first time any exploration company has tested this highly prospective tenure for uranium,” Mr Radonjic said.

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