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Uranium exploration company, Epsilon Energy Limited has started ground radiometric survey and uranium sampling programs at its Mt Phillips project and its Ida Valley project in the Gascoyne and in the Yilgarn Craton regions of Western Australia. Epsilon Energy managing director Matt Gauci said the programs will pave the way for drill programs currently planned for the March quarter.
"The Mt Phillips and Ida Valley project mineralisation styles are representative of valley and terrace calcrete uranium deposits, similar to well documented WA uranium deposits such as the 55,000 tonne Yeelirrie U308 deposit and the 9000 tonne Lake Way-Centipede U3O8 deposit," Mr Gauci said. "Numerous valley and terrace calcrete occurances have already been reported within both the Mt Phillips and the Ida Valley projects and a detailed work program is required to firstly identify extensive conceptual strike lengths, and secondly to confirm high grade calcrete concentrations for the drill program." At Mt Phillips, a field reconnaissance trip confirmed active calcrete uranium systems within the project area. Historical grab samples from field work at Mt Phillips returned a range of results between 0.024% U3O8 to 0.708% U3O8 including the relatively high grade 1.18% U308.
At Ida Valley previous exploration has identified sites favourable for mineralisation, including trapsites and small deposits, and the target model here is Yeelirrie (55,000 tonnes U308). Uranium occurances and deposits reported within (approximately 100,000lbs U308) and outside (3.7m lbs U308) the Ida Valley tenements and applications, appear encouraging with respect to the valley style Calcrete deposits. The results from the programs, which have commenced at Mt Phillips and will follow shortly at Ida Valley, will be reported as they become available. Meanwhile Epsilom Energy has been granted a number of exploration licences at its Balladonia Uranium Project in Western Australia and its Pandanus West Project in Queensland.
The approvals pave the way for drilling programs to start at both projects. The extensive Balladonia Uranium Project has been particularly bolstered following the grant of 16 exploration licences. |