Energia Minerals drills Carley Bore upgrade potential

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THE DRILL SERGEANT: Energia Minerals (ASX: EMX) has completed resource infill drilling program at the company’s 100 per cent-owned Carley Bore uranium deposit in Western Australia.

The company said the drilling has confirmed the consistency of uranium mineralisation in all of the three areas that had been targeted for further definition drilling, highlighting the potential to upgrade the resource.

A total of 33 large diameter aircore holes were drilled within the first of these areas (Zone 6).

 

Carley Bore Zone 6. Source: Company announcement

 

Of these holes, 25 within the mineralised envelope were down-hole gamma logged producing encouraging results including:

LYAC0445:
9.78 metres grading 408ppm uranium equivalent (eU3O8);

LYAC0448:
4.56m grading 1,384ppm eU3O8;

LYAC0453:
7.3m grading 670ppm eU3O8; and

LYAC0458:
6.1m grading 683ppm eU3O8.

Energia indicated holes LYAC0454 and LYAC0460 also encountered strong mineralisation over at least 10 metres and 5 metres respectively.

On-the-spot analysis of mineralisation in these two holes by hand-held XRF returned an intersection of 10m grading 475ppm U3O8 in hole LYAC0454.

Energia anticipates receiving final geochemical assays in approximately three weeks’ time, at which time it intends conducting a detailed comparison of the geochemical results against the down-hole gamma logging results.

In tandem with this, a revised resource estimate and updated Scoping Study utilising only the geochemical assays will be carried out by Coffey Mining.

The new resource and Scoping Study results are expected to be available early in the first quarter of 2014.

“This work clearly reinforces the potential to underpin a high quality In-Situ Recovery (ISR) mining operation at Carley Bore,” Energia Minerals managing director Kim Robinson said in the company’s announcement to the Australian Securities Exchange.

“We are looking forward to receiving the remaining data from the drilling program, updated resource estimate and Scoping Study, paving the way for this project to advance to the next stage.”

Email:
info@energiaminerals.com

Website:
www.energiaminerals.com