Eclipse Metals Ltd (ASX:EPM) is sitting on some highly prospective uranium tenements within the fertile Ngalia Basin and the Alligator Rivers Uranium Field in the Northern Territory.
In the Ngalia Basin, the company’s granted exploration licences, EL 24808 and 32080, hold drill-ready targets within promising paleochannel prospects.
Recent gravity surveys have revealed multiple targets with potential uranium mineralisation, supported by historical data indicating anomalous values along a 15-kilometre stretch, particularly within the Afghan Swan and adjacent Y-series prospects.
Here, the company has fielded some high-grade uranium, gold and palladium assays, including uranium concentrations reaching 5.8% U₃O₈.
Large swathe of untapped resources
The company has more than 7,500 square kilometres across 11 exploration licences (ELs) and is well-positioned to uncover the untapped uranium and critical mineral potential across the region.
Two granted ELs, 24808 and 32080 in the Ngalia Basin, are ready for drilling, with historical data indicating promising paleochannel prospects.
Gravity surveys have identified drill targets across a 15-kilometre-long paleochannel that holds significant potential for uranium mineralisation.
Eclipse Metals is hoping to leverage modern exploration techniques to further define these prospects and accelerate resource delineation.
In particular, the company’s exploration licence application (ELA) 31501, which covers a wide swathe of the basin, has in the past returned envelopes of uranium-vanadium-strontium mineralisation, including 960 parts per million (ppm) of uranium and 570 ppm of strontium.
Unlocking mineral riches
These findings strengthen the strategic importance of the licence and fuel Eclipse Metals' mission to unlock critical mineral riches in the region.
The company also says it is on the front foot with its strong Environmental, Social and Governance (ESG) principles, which further enhance its appeal in the green revolution space.
Additionally, Eclipse’s tenements extend into the Alligator Rivers Uranium Field, known for its high-grade deposits, including the renowned Ranger and Jabiluka mines.
Eclipse Metals is advancing exploration at the Devil’s Elbow prospect within the Liverpool Project, West Arnhem Land.
Historical drilling has returned high-grade uranium – 5.8% U₃O₈, gold – 38.1 grams per tonne, and palladium – 28 grams per tonne.
The company has identified 17 drill targets, with similarities to the world-class Jabiluka Uranium-Gold deposit, adding spice to its exploration portfolio.
