Yeelirrie North Project
Located adjacent to Cameco’s state approved Yeelirrie Uranium Project with a resource of 128.1Mlb @ 1500ppm U3O8 .
Location and Tenure
E53/2188 comprises an area of 70 Blocks (approximately 220km2) located approximately 50km southwest of Wiluna, Western Australia. The tenement adjoins Cameco’s Yeelirrie Uranium Project (one of Australia’s largest undeveloped uranium deposits) and is in close proximity to Toro’s Dawson Uranium Project.
The Wiluna region has a rich history of gold, nickel and uranium discoveries.
Geology and Prospectivity
E53/2188 is situated near the northern extremity of the Archaean Norseman-Wiluna greenstone belt of the Yilgarn Craton, Western Australia. Mines in the Wiluna area exploit a group of individual lode hosted gold deposits within a series of low grade metamorphosed (prehnite-pumpellyite facies) Neoarchaean mafic and ultramafic lava flows.
More recently, nickel and PGE mineralisation across Wiluna was found to be present regionally through the existence of komatiitic, basaltic and andesitic volcanic rocks which are interbedded with sedimentary rocks and doleritic sills within the northern extremity of the Yilgarn Craton. Encounter Resources Ltd (ASX: ENR) conducted limited shallow AC and RC drilling towards the north-western side of the tenement.
Uranium mineralisation at the Archaean Norseman belt occurs as a series of shallow calcrete-hosted uranium deposits, through a concentration of calcium and magnesium carbonates which leached from surrounding granitic rocks over millions of years. The local area hosts recent surficial carbonate rocks (valley calcrete), spatially and genetically related to Cretaceous to Tertiary palaeodrainage channels, now reflected by broad, dry creeks and strings of playa lakes. These rocks are responsible for hosting uranium deposits and make the local geology favourable for uranium, with mineralisation occurring in flat lying shallow orebodies in ancient drainage channels. Work to date to analyse uranium prospectivity has included a radiometric survey which identified areas of high potential for uranium presence, striking from the northwest to southeast across the tenure.
The Wiluna area has been explored for nickel and uranium; however, limited work has been undertaken in recent years. Based on available information, the Company considers that a further detailed review and on-ground exploration is warranted.
Funds raised from the Public Offer will be used to undertake a systematic exploration program including surface mapping, soil sampling, geophysical surveys and potentially drilling on selected targets.
About the Project
- Prospective for paleochannel hosted uranium deposits
- Favourable structural geology
- Presence of NNE and NW striking faults
Focused exploration strategy:
- Desktop review of existing radiometric data sets
- Regional gravity survey to identify potential undercover paleochannel targets
- Work towards retention license status to retain low-cost option on any future uranium exploration policy changes