Mineral exploration company Axiom Mining has entered into the uranium exploration segment by lodging the Exploration Permit for Minerals (EPM) application to explore a known sedimentary hosted uranium deposit in Eden Vale, Queensland.
The latest move also marks the company’s foray into the energy sector.
The 330km² application area is the only known roll front uranium deposit in Queensland, and is surrounded by a number of other tenements currently operated by Australian and international uranium companies.
It covers highly prospective sandstone aquifer units in a geological setting which is similar to the high grade Four Mile West Deposit, held in JV between Quasar Resources and Alliance Resources.
Axiom said that it will explore for an insitu leach uranium target due to the low environmental impact and reduced cost of solution mining.
According to the company, its entry into the energy sector will add value to its Australian portfolio due to the strong potential of the tenement application area to host the similar mineralization to the Four Mile West mine, together with the Queensland government’s policy intentions on uranium mining.