The company said that significant results have been received from both the MA7 and MA5 palaeo-channel systems, further reinforcing the regional exploration upside at the Marenica Project outside of the current JORC resource area.
Two areas of uranium mineralization have been identified at the MA7 Target Area (within the Southern Palaeo-channel), which lies 7km south-east of the Marenica deposit.
This south-west trending palaeo-drainage system is over 10km long and varies in width between 2km and 4km. A zone of near surface, secondary mineralization occurs in the north-eastern part of the target area, associated with a strong surface Radon anomaly.
Uranium mineralization was also encountered on all three traverses of Aircore drilling conducted over the central part of the Southern Palaeo-channel system. Drilling targeted airborne radiometric anomalies occurring within a broad, 5km long zone of surface radon anomalism.
A ground-based EM survey has been proposed to identify deeper channels within the palaeo-system, which will allow to drilling to be more focused over such a large area. Wide- spaced drilling has indicated the potential for both surface mineralization and deeper channel mineralization.
All remaining down-hole geophysical probe results have now been received for regional Aircore drilling completed during March-April 2010. Further encouraging results have been received for Target Area MA5 confirming a broad, 2km wide zone of near-surface secondary mineralisation, located immediately west of the current resource area.
