Company
ASX:CXU
Cauldron Energy Ltd (ASX:CXU) has a diversified portfolio of projects in Australia and has already achieved exploration success at its Yanrey Uranium Project with a defined uranium resource.
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Cauldron has moved to continue exploration of this high potential zone with the application for a Prospector’s Licence. This application has now been accepted and progressed through the grant process by the Earth Resources Regulation divisi
Sophisticated and professional investor clients of lead manager 180 Markets made applications totalling in excess of $2.7 million.
The company is about to drill-test a portion of the prematurely closed Blackwood Goldfields, where economic depression, war and water combined to close down the field in the early 1900s.
The drilling contractor will be able to set up the first hole shortly after mobilising its drill equipment underground utilising the Tyrconnel access drive.
The skillset of new chief exploration geologist Mark Burdett can assist the company to unlock the gold mineralisation potential of the historical central Victorian project.
The company expects to be able to establish operations on-site and start drilling in the coming weeks.
Geologist Asha Rao has been appointed full-time exploration manager and is returning to the company to extend the exploration model she helped build for predicting mineralisation within the Yanrey Uranium Project.
The company has utilised its predictive exploration model to acquire the new tenements prospective for In-situ Recovery style uranium mineralisation at the WA project.
Consent from Melbourne Water follows approval in March 2021 by Victoria’s mining regulator Earth Resources Regulation (ERR) for Cauldron’s planned underground drilling and sampling exploration operation.
The completion of three acquisitions of river sand tenements at the mouth of Western Australia’s Ashburton River brings Cauldron a step closer to the global sand market.
From the company’s perspective, in the near term the sand project interests provide an opportunity to generate cashflows consistent with its corporate strategy.
Onslow, WA is expected to experience an uplift in investment activity from resource companies supporting the two significant offshore gas projects owned by BHP and Chevron.
Cauldron is planning to re-commission a concrete plant to supply into upcoming projects in an anticipated construction and mining boom in this region of Western Australia.
The company’s commitment to achieving its net zero carbon emissions target aligns perfectly with a low key local community impact approach and operational approach using traditional mining methods.
The company is targeting estuarine sand in three of Western Australia’s largest river systems to address the global sand market that is projected to be moving towards deficiency.
The fundamental characteristics of all the projects managed by Cauldron allows for highly efficient operations with inherently low energy operating requirements.
The company's exploration and mining team is expected to be on-site soon to establish site facilities and the development of underground drill platforms - and to outline plans with community stakeholders.
The company’s program of work accessing the significant historical underground workings at its Blackwood Gold Project was approved ahead of company expectations.
The company aims to re-establish access to more than 1.5 kilometres of tunnels to access historical underground workings below the Sultana, Sultan and North Sultan shafts.
Following regulatory approval for drilling, subject to a review of the company’s community engagement program, Cauldron can plan and finalise the drilling logistics to test the high potential exploration targets.
