Global Uranium in an Australian public listed company providing unique exposure to not only uranium exploration and development but the uranium enrichment space.
Enmore Gold Project Renewed for a Further Six Years. (Credit: Dominik Vanyi on Unsplash)
Global Uranium and Enrichment Limited (ASX:GUE, OTCQB: OKPRF) (the Company) is pleased to advise that the exploration licence for the Enmore Gold Project (EL8479) (‘Enmore’ or ‘the Project’) has been renewed for a further six years.
Enmore is located in the New England Fold Belt, approximately 30km south of the regional centre of Armidale in New South Wales. The Project shows similar geological characteristics to the Hillgrove Gold Mine, which is located approximately 20km north of Enmore and has produced over 730,000oz of gold. The Hillgrove Project was recently acquired by Larvotto Resources Limited (ASX:LRV).
Enmore is an exciting gold opportunity with significant exploration and development upside. To date, the Project has been underexplored, however, results from the Company’s drill programs continue to demonstrate the significant potential of the resource. A maiden drill program completed in 2021 at Enmore delivered strong results, including hole OSSRC06 which returned 174m @ 1.83 g/t gold from surface, ending in mineralisation, with the deepest interval returning 3m @ 8.86 g/t gold from 171m to EOH.1 A follow up drill program in 2022 confirmed the high-grade gold mineralisation over significant widths with results including 4m @ 8.85 g/t gold and 26m @ 2.52 g/t gold with strong indications that gold grades are increasing with depth.
Global Uranium and Enrichment’s Managing Director, Andrew Ferrier commented:
“We are extremely pleased to announce the extension of our holding at Enmore for a further six years, in addition to maintaining 100% ownership.
“This renewal is a critical milestone as we progress discussions with potential project partners for Enmore. Our renewal decision is of particular significance given the favourable conditions and strong outlook for the gold market, with prices reaching all-time highs above A$3,000/oz.
“The exciting potential of Enmore as a future gold project of size and scale is highlighted by the success of our 2021 drill program which generated excellent results. We understand the potential of Enmore and as we continue our primary focus on building GUE into a key North American uranium company, finding the right partner for Enmore remains a key deliverable.”
Source: Company Press Release