Western Australia
In Western Australia the Company has an agreement with Rey Resources Ltd. concerning the uranium rights on two granted exploration licences covering part of the Myroodah uranium project in the Canning Basin, 120km South East of Derby and only 40km from a sealed highway.
In Western Australia the Company has signed a farm-in and joint venture agreement with Rey Resources Ltd. covering the uranium rights on two granted exploration licences covering part of the Myroodah uranium project in the Canning Basin WA, 120km South East of Derby and only 40km from a sealed highway. Uranium was first discovered at Myroodah by CRAE (Ashton Joint Venture) in 1978, who drilled 17 holes totalling 1565.5m to test the radiometric anomalies. The mineralisation appears to be of roll-front-sandstone hosted style with grades calculated from down hole gamma logging (using appropriate calibration) of 0.1 kg/t to 0.48 kg/t (480ppm) U3O8 over widths of 1.0m to 3.0m. No exploration for uranium has been conducted since 1981.
The uranium mineralisation occurs in a synclinal outlier of the oxidised Triassic Erskine Sandstone and underlying reduced Blina Shale which, at this location, is projected to lie about 500m above the Permian coal horizons of the Canning Basin.The Erskine Sandstone is an aquifer, hence there may be potential for an In Situ Leach operation or for near surface uranium. Government airborne radiometric data shows a widespread anomaly associated with the shallowly dipping Erskine Sandstone and underlying Blina Shale which opens up the possibility of discovering broad zones of near surface mineralisation. Previous drilling by CRAE did not test for near surface mineralisation.