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Uranium

Location:

85km south of Onslow in the northwest of Western Australia

Ownership:

100%

Licence area:

12 granted tenements totalling 1,851kmof Mesozoic sediments highly prospective for sandstone hosted uranium mineralisation, amenable to In-situ Recovery (ISR) mining. An additional 7 tenements are under application covering 1,110km2

Highlights:

              • Total uranium resource of 21.51 Mlb at 270ppm eU3O8 at 150ppm cut-off. Preliminary economic evaluation has shown that a 150ppm eU3O8 average grade over at least half a metre is potentially economic for ISR type uranium production at the Yanrey Project
              • Tenements lie within an area historically proven to host significant uranium deposits, evidenced by the Manyingee uranium deposit (as at 15 August 2015), which has a published indicated resource of 15.7 million pounds at a grade of 850ppm U3O8 and an inferred resource of 10.2 million pounds at a grade of 850ppm U3O8
              • Cauldron has completed an Exploration Target estimate for the Bennet Well Deposit area (BW Extended) and commenced drilling the highest priority targets of BW Extended, with the intention to improve the understanding of the mineralisation setting and the continuity of grade of the Exploration Target (see ASX Announcement of 22 September 2015)
              • Targeted exploration has allowed Cauldron to clearly identify the increasing potential to further establish uranium resources at the Yanrey Project with multiple prospects over its large tenement holding
              • The Western Australian State Government has a pro-uranium mining policy which enhances the value of Cauldron’s WA uranium assets

Bennett Well Deposit Map

Bennet Well Deposit

Cauldron has successfully completed several drilling programs at the Bennet Well Deposit since commencing exploration in 2006. The most recent 6,319 m drilling program in late 2014 resulted in a 16% upgrade to the resource at the Bennet Well Deposit.

Ravensgate, an independent mining consulting group, have calculated a JORC Code compliant Indicated and Inferred Resource estimate for the Bennet Well region. The new total uranium resource is 21.51 Mlb at 270 ppm eU3O8. A 150 ppm cut-off was used in both resource calculations. Preliminary economic evaluation has shown that a 150ppm eU3O8 average grade over at least half a metre is potentially economic for ISR type uranium production at the Yanrey Project. The most significant intervals from the recent drilling include drill holes BW0035 with 1.1m @ 5,060ppm eU3O8 and BW0010 with 1.25m @ 2,504ppm e U3O8.

Proposed Production Milestones at Yanrey

Proposed Production Summary_Yanrey

Yanrey Project Geology >>

To learn more about the ISR mining method click here

To learn more about recent activity at the Yanrey Project see ASX Announcements here

 

Location:

San Juan province, Argentina

Ownership:

100% interest

Licence area:

475km2  uranium mineralised sediments

Highlights:

                • 7km unit of outcropping uranium-rich sandstones, including visible uranium oxide minerals which were identified using hand-held geophysical equipment. Scintillometer readings of the leached surface material indicate a range typically between 100 to 550 ppm eU3O8, with a maximum reading of 1,300 ppm eU3O8.
                • Project was explored by the Atomic Energy Commission of Argentina (CNEA) in the 1970’s. Priority exploration targets exist under cover, along extensions of the outcropping mineralisation.
                • This project currently consists of 9cateos (applications for exploration licences), covering approx. 475km2, that are pending grant. These areas are considered to represent prospectivity for the Company.

 

Location:

Tinogasta, Catamarca provinces, Argentina

Ownership:

Current equity of 51%, with exclusive option to earn-in to 92.5% interest

Licence area:

440km2 project area having well defined outcropping mineralisation

Highlights:

          • Copper and silver mineralisation is focused into sedimentary bed-parallel zones near the contact of red-bed style oxidised sediments and reduced carbonaceous dolomitic shales; sub-economic uranium mineralisation is present in the favourable horizon.
          • Mapping and sampling has identified copper mineralisation with average widths of 15m in leached host rock. Peak assays of 3.7% copper and 520ppm (approx. 17 ounces) silver are indicative of the potential grade of mineralisation, especially considering the possibility of improvement of grade below the weathering leach cap.
          • The geology and mineralisation at the Rio Colorado project fits the exploration model described as Kupferschiefer-style, the giant sedimentary copper deposits of Poland and Germany.
          • The project has significant capacity for rapid advance in value because of shallow, easily won copper and silver mineralisation with the potential to exist over considerable length and depth.

Rio Colorado RC Assay Results >>

Rio Colorado Exploration Model >>