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CAULDRON ENERGY LTD

ASX: CXU

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Cauldron Energy Limited is the product of the merger between Scimitar Resources Limited and Jackson Minerals Limited - two Australian exploration juniors with highly complementary exploration profiles. The result is a larger, more progressive resource company with an increased global presence and asset base, well positioned to take advantage of the financial markets in Australia, Asia and North America. The Company controls an impressive suite of uranium projects that are diversified in terms of stage of development and location.

RIO COLORADO URANIUM COPPER SILVER PROJECT

* A 16 km zone of intermittently outcropping mineralised sediments with surface sampling and mapping indicating widths of between 10 to 20 metres in one zone.
* Where sampled, these sediments include better zones of between 300 and 3,000 ppm U3O8 over widths of up to 10.7 metres. Adjacent to these high-grade areas the background anomalism averages 90 ppm U3O8.
* Recent due diligence sampling by Jackson has produced results up to 2,451 ppm U3O8 (5.4 lbs/t U3O8) which support historical selective bulk sampling (2,900 ppm U3O8) documented by the CNEA.
* The copper and silver mineralisation has a similar spatial distribution to the uranium, but is focussed into narrower bed parallel zones. Recent sampling has identified copper mineralisation up to widths of approximately three metres; however for the most part the copper mineralisation noted is within horizons of less than one metre in thickness. Assays of up to 3.73% copper and 17 ounces silver for these zones, are indicative of the better mineralisation sampled to date.
* Untested radiometric anomalies in recent un-consolidated fluvial sediments, derived in part from the mineralised hard-rock environment described above, provide scope for the exploration of Unconformity or Roll-front uranium deposits. This style of uranium mineralisation has not previously been explored for in the region.
* Untested radiometric anomalies in meta-sedimentary and granitic basement, have a similar geological setting to CNEAís Las Termas uranium deposit (reportedly 0.1-9.2 % U3O8), located 50 kilometres along geological trends to the north.

LAS MARIAS URANIUM PROJECT

As testament to the potential of this project, a 7km unit of outcropping uranium rich sandstones, including visible uranium oxide minerals, has been identified using hand-held geophusical equipment. Scintillometre readings of the leached surface material indicate a range typically between 100 to 550 ppme U3O8, with a maximum reading of 1,300 ppme U3O8. This project is currently under application, with the first exploration lease expected to be granted early in the new year.

Yanrey Uranium Project, WA. (100%)

* The company has a JORC code resource of 4.85 million pounds of eU3O8 at 300 ppm eU3O8.
* Atomic Resources JV added targets at Barradale, Ballardís North and South channels.
* Additional drill targets defined by EM surveys including a new palaeochannel
* Drilling conducted in late 2008 extended mineralisation to the north east of Bennet Well.
* The Western Australian State Government has a pro-uranium mining policy which enhances the value of Cauldron's WA uranium assets.

Marree Project, SA.

* Farm in and JV agreement signed with Korean Consortium.
* First Korean government investment in an Australian uranium project.
* Korean consortium: government-owned Korea Resources Corporation with Daewoo and LG International.
* $6.2 million over three years, to fund exploration at Marree.
* Mud rotary drilling program completed in August 2008: 19 holes for 2,486m.

Amadeus Uranium Project, NT.

* Adjacent historical Pamela and Angela uranium deposits
* Historical mineralisation identified by Uranerz during the 1970's
* Reverse Circulation drilling programs completed: 39 holes for 3,903m
* 100% company owned

Lake Frome Projects, SA.

Cauldron Energy has a granted exploration licences and one exploration licence application within the Lake Frome region 500 km north east of Adelaide in South Australia. The licences cover part of the Callabonna Sub-basin which is a significant uranium province, hosting the Beverley and Honeymoon Well sedimentary uranium deposits.

Beverley is the largest sedimentary uranium deposit in South Australia and is located on the northern Lake Frome Plains. It has a resource of approximately 21,000 tonnes of uranium oxide with this mineralisation thought to be derived from older Proterozoic basement rocks in the Mount Painter region of the Flinders Ranges. The Beverley deposit is hosted by unconsolidated fluviatile sands and interbedded clays of the Tertiary Namba Formation within a 500 metre wide, north-east trending palaeochannel between 100 and 140 metres depth. Beverley is currently being mined by Heathgate Resources Pty Ltd using the In Situ Leach (ISL) method.

The Honeymoon Well uranium deposit is located to the south east of Lake Frome near the Olary Ranges. The deposit is hosted by Tertiary Eyre Formation sediments within the Frome Embayment, north of the Proterozoic Willyama Inlier. Discovered in 1972 the deposit is located on the outside margin of a major bend in the 175 km long Yarramba Palaeochannel that is deeply incised into weathered Willyama Complex metasediments. The mineralisation extends 4000m along the channel margin and is up to 400m wide. The total indicated resources are reported by Southern Cross as 2.8 Mt containing 3,300 tonnes uranium oxide at a grade of 0.12%.

Mine For

copper, silver, uranium,

Location of operation(s)

Argentina, South Australia, Western Australia, Northern Territory

Australian Basins

Ngalia, Eromanga, Armadeus

Address

18 Oxford Cl
LEEDERVILLE, WA, Australia

Phone

(61 8) 9211 5777

Email

Website


Last Updated

6/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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