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ENERGY METALS LTD

ASX: EME

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

Energy Metals Limited is a dedicated Australian Uranium exploration company with a portfilio of advanced projects located in the Northern Territory and Western Australia.

BIGRLYI, NORTHERN TERRITORY (EME 53.29%)

The Bigrlyi Project comprises 10 granted exploration retention licenses located approximately 350 km northwest of Alice Springs. The project, which is a joint venture with Paladin Energy subsidiary Valhalla Uranium (42.06%) and Southern Cross Exploration (4.20%), has been subject to significant exploration activity since discovery in 1983, including over 850 drillholes, metallurgical testwork and mining studies.

The Bigrlyi Project is characterised by relatively high uranium grades (with vanadium credits) and excellent metallurgical recoveries. Base case acid leach tests recorded extraction rates of 98% uranium and 59% vanadium, with 94-95% of uranium extracted within 8 hours at optimum leach conditions (pH 1.8, 50ļC, ORP=450 mV, coarse grind size).

NGALIA REGIONAL, NORTHERN TERRITORY (EME 100%)

The Ngalia Regional project comprises ten 100% owned exploration licences (total area 2,840 km≤) located in the Ngalia Basin, between 180 and 350 km northwest of Alice Springs in the Northern Territory. Seven of these tenements are contiguous and enclose the Bigrlyi project as well as containing a number of uranium occurrences including the Walbiri and Malawiri prospects, located 55km and 150km SE of Bigrlyi respectively. The remaining 3 tenements are located southwest of the Bigrlyi deposits and cover discrete uranium anomalies with no evidence of previous exploration.

Seven of the 10 Ngalia Regional Exploration Licences have been granted. The remaining three applications (ELís 24450, 24462 and 24805) are located on Aboriginal Freehold land and the consent of the Traditional Owners is required before the tenements can be granted. Energy Metals has been negotiating with the Traditional Owners through the Central Land Council and is confident that the Company will eventually gain access to these areas.

The Energy Metalsí Board has approved a $1M exploration program for the Companyís 100% owned projects in both NT and WA, including prospects within the Ngalia Regional project. At Cappers Prospect 300 holes are proposed to follow up widespread uranium anomalism intersected in broad spaced aircore drilling undertaken in the December 2008 quarter. This uranium mineralisation appears to be associated with calcareous alluvium similar to the Napperby deposit located 20 kms to the SE and currently being explored by Toro Energy.

Other prospects earmarked for drill testing include Camel Flat, located 33 km SE of Bigrlyi, where diamond (core) drilling is proposed to further investigate Bigrlyi style uranium mineralisation intersected in RC drilling completed late 2008 (eg 2.5m @ 2,564 ppm eU3O8), and Bigrlyi East, where airborne geophysical data indicates uranium anomalous stratigraphy immediately east along strike from the Bigrlyi deposit.

MACALLAN, NORTHERN TERRITORY (EME 100%)

The Macallan project is a new exploration licence application (ELA27333), located 460 km northwest of Alice Springs and 140 km from the advanced Bigrlyi project (EME 53.7%). Newmont Australiaís Callie Gold Mine is located a further 140 km to the north.

The Macallan tenement covers a strong 3km-long bullseye radiometric anomaly, identified through the interpretation of regional airborne geophysical data. The anomaly, which lies within the Tanami Desert, occurs in an area dominated by extensive sandplain, dune and sheetwash cover. The basement rocks are interpreted to comprise high grade metamorphosed sediments and granitoids, forming part of the Palaeoproterozoic Aileron Province.

Energy Metals considers that the Macallan anomaly may indicate the presence of shallow structurally controlled uranium mineralisation. The Northern Territory Geological Survey has interpreted a series of significant regional faults intersecting very close to the position of the target, and these faults could have acted as channelways for uranium-bearing fluids, derived from the basement rocks.

Although the area has been subject to previous gold and base metal exploration, there is no record of any past uranium exploration. Energy Metals will initiate access negotiations with the traditional owners so that testing of this target can commence as soon as possible.

ANKETELL, WESTERN AUSTRALIA (EME 100%)

The Anketell project is located 100 km east of Mt Magnet and comprises two granted exploration licences (Eís 58/289 & 58/292) with a total area of 165 km≤. The tenements contain shallow calcrete hosted carnotite mineralisation discovered by Western Mining (WMC) in 1972. The mineralisation is similar in style to the Yeelirrie deposit, also discovered by WMC in the same year and located 150 km to the northeast. Aircore drilling completed by Energy Metals in 2007 and 2008 confirmed the presence of uranium mineralisation in calcrete and calcareous clays with most traverses recording anomalous intercepts at shallow depths (typically within 10m of surface). During the period independent consultants Hellman & Schofield Pty Ltd (H&S) estimated an Inferred Mineral Resource at Anketell of 16.3 million tonnes averaging 167ppm U3O8 for a contained U3O8 content of 2,720 tonnes (6.0 million pounds) at a cut-off grade of 100ppm U3O8.

MOPOKE WELL, WESTERN AUSTRALIA (EME 100%)

The Mopoke Well project comprises one exploration licence (E 29/568) located 55 km west of Leonora. The tenement contains two historic uranium prospects (Peninsula and Stakeyard Well), with a third prospect (Raeside) located on the western edge of the tenement. All three prospects are hosted by valley calcretes associated with the Lake Raeside drainage system. Geochemical assays from 95 aircore holes drilled at the Peninsula and Stakeyard Well prospects in the December 2008 quarter were received during the period. The geochemical assays confirm the widespread shallow uranium mineralisation indicated from downhole gamma probing with significant intercepts summarized in Table 2, including 2.5m @ 265ppm U3O8 from 1m at Peninsula and 1.5m @ 351ppm U3O8 from 3.5m at Stakeyard Well.

LAKESIDE, WESTERN AUSTRALIA (EME 100%)

The Lakeside project is located in the Murchison district 20 km west of Cue and comprises exploration licence E 21/120 (area 75 km≤) which was granted late January 2006. This project was acquired to follow up previously discovered carnotite mineralisation hosted by valley calcretes associated with major saline drainages.

MANYINGEE, WESTERN AUSTRALIA (EME 100%)

The Manyingee exploration licence (E 08/1480) is located 85 km south of the port of Onslow. The tenement (total area 86 km≤) was granted early February 2006 and surrounds the mining leases containing Paladin Energy Limitedís Manyingee resource, a stacked series of paleochannel hosted roll front uranium deposits. A review of airborne EM data and historical exploration in the area has interpreted a number of palaeochannels extending into the tenement from the Paladin Manyingee deposit. An aircore drilling is proposed to target extensions to the existing defined mineralisation as well as untested channels to the south.

An initial heritage survey was undertaken by the Thalanjyi people following the signing of an access agreement, as noted in the previous quarterly report. The survey covers a proposed aircore drill program testing for extensions to the palaeochannel uranium mineralization. This proposed aircore program (approximately 3000m) will be undertaken in the second half of this year.

LAKE MASON, WESTERN AUSTRALIA (EME 100%)

This project comprises one granted exploration licence (E 57/590) with an area of 64 km≤ centred 25 km NNE of Sandstone and 80 km SW of the Yeelirrie deposit. Previous exploration by BP Minerals in the 1970ís discovered shallow carnotite mineralisation in valley calcretes associated with the Lake Mason drainage system.

Aircore drilling (397 holes) by Energy Metals between September 2006 and December 2007 confirmed the presence of widespread uranium mineralisation and in 2008 consultants Hellman & Schofield (H&S) estimated an Inferred Mineral Resource at Lake Mason of 7.9 million tonnes averaging 170ppm U3O8 for a contained U3O8 content of 1,343 tonnes (3.0 Mlb) at a cut-off grade of 100ppm U3O8. An infill aircore drill program to increase the level of confidence of this resource was completed in the March 2010 quarter, with 183 holes drilled in higher grade zones. Downhole gamma logging of these holes returned anomalous uranium values from most holes, with geochemical assaying confirming the downhole probe results.

Mid December 2010 the Company announced that H&S had estimated the Mineral Resource at Lake Mason at 9.1Mt @ 185ppm U3O8 (at 100ppm cut-off) for 1,689 tonnes (3.7Mlb) of uranium. This latest resource estimate represents a 26% increase in contained uranium metal compared with the June 2008 resource estimate, with 62% of the resource now reporting to the Indicated Category.

RAWLINSON, WESTERN AUSTALIA (EME 100%; option to acquire 100%)

The Rawlinson Project comprises four exploration licence applications (total area of 1,450 km≤) located in the Gibson Desert, approximately 950 km northeast of Kalgoorlie and 60 km west of the NT border.

Mine For

uranium, vanadium

Location of operation(s)

Northern Territory, Western Australia

Address

Level 2, 8 Colin Street
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9322 6904

Email

Website


Last Updated

2/04/2011

 

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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