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Cauldron Energy talks up uranium potential after defining new targets at Yanrey

Results from a new passive seismic survey at the Flagstaff prospect highlighted new uranium targets for drilling.

Cauldron Energy Ltd (ASX:CXU) believes its Yanrey Uranium Project contains significant undiscovered uranium resources, following positive results from a new passive seismic survey.

The results highlighted multiple new in-situ recovery (ISR) uranium targets at the Flagstaff prospect over areas of unusual basement complexity.

The company says the structural information gleaned from the survey will assist in further developing the systems-style exploration model at the project.

Unlocking uranium potential

Cauldron chairman Simon Youds said the findings could help unlock the uranium potential of the Yanrey project.

“Our ultimate objective is to explore for uranium mineralisation amenable to extraction by ISR,” he said.

“Economic deposits of sandstone-hosted, palaeochannel-style uranium can be mined using ISR in the lowest cost quartile of uranium mined globally.

“This characteristic makes these deposits extremely attractive for mining at any uranium price and necessarily must form the basis of any uranium resource portfolio.

“The recent passive seismic results justify the confidence we have in our current exploration model, which has seen the tripling of uranium resources reported at Bennet Well.

“The team that unveiled Bennet Well understands the components of these significant energy resources as crucial for the world’s shift to lower carbon power.

“We believe that the Yanrey Project exists within a larger uranium province that is slowly being uncovered.

“There is potential here for a scale comparable to the best uranium-endowed province globally and that, with astute leadership, Western Australia is at the threshold of a new energy resources boom.”

What’s next?

The combination of Cauldron’s predictive exploration model and technical deposit-scale understanding defines the unusual basement complexities as highly prospective targets for follow-up drilling.

There are restrictions on uranium mining in Western Australia, but Cauldron says the completion of the passive seismic surveys is proof it is still dedicated to progressing the Yanrey project “as much as it possibly can”.

“With the re-establishment of our technical team and the completion of the new passive seismic surveys, we are reinitiating the work involved in refining this 3D suite and smart exploration/drill target generation,” Youds said.

ISR uranium mining

The company is exploring for mineralisation amenable to mining extraction by ISR.

When economic, these styles of deposit can be mined in the lowest cost quartile of all uranium mined globally.

This characteristic makes these deposits extremely attractive for mining at any uranium price.

ISR uranium mining is extremely energy efficient, it, therefore, has the lowest mining cost with lowest carbon footprint.

Uranium as an energy commodity is slowly being recognised as the solution to the energy issues facing the globe.

– Daniel Paproth

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