Renaissance Uranium (ASX: RNU) maiden drilling at the Pirie Basin Project has yielded some positive results for the company, with the confirmation of extensive uranium host sequences.
Building the prospectivity of the project, all nine completed holes intersected thick sequences of ISR-amenable Eocene sands, which is the host sequence of the nearby Mullaquana deposits.
Down hole logging results from the initial two kilometre-spaced drilling include elevated gamma responses of up to 0.010% uranium.
To follow up on the results, Renaissance has already planned a more extensive 2,000 metres of drilling in the current campaign, to test for changes in the redox status of sand units, in order to locate uranium – mineralised trap sites.
Drilling will continue on the east-west traverses along similar two-kilometre spacing after the redeployment of drill rigs.
Renaissance has focussed on the discovery and development of long term, economically viable uranium producing assets.
The company holds interests in eight projects covering 18,000 square kilometres with tenements located in key uranium areas of South Australia and the Northern Territory.
The Pirie Basin Project is located southwest of UraniumSA’s (ASX: USA) Mullaquana Uranium Project.
The Mullaquana project hosts 19,050 tonnes of U3O8 (equivalent to around 42 million pounds), highlighting the exploration potential of Renaissance in the area.