Deposits of uranium of 153 parts per million (ppm) and vanadium to 6122 ppm have been detected in a test of the primary target zone with elevated iron recorded to 32.7% and copper deposits found over magnetic anomalies.
The drilling was carried out by joint venture partner Australian Mineral and Waterwell Drilling, which will earn a 49% equity interest in the project on completion.
Capital Mining is considering high resolution gravity and electromagnetic surveying techniques in addition to more drilling to forward the program, reports proinvestors.com.
