Renaissance Uranium (ASX: RNU) will begin drilling at its wholly-owned Sherrys Dam and Tanners Dam projects in the Central Gawler Craton of South Australia in March.
At Sherrys Dam, geophysical data suggests potential for skarn-hosted IOCG-style mineralisation, associated with a relatively intense, linear magnetic anomaly located on the northern margin of the inferred intrusive.
The anomaly extends over a strike length of about 2.5 kilometres, and geophysical modelling suggests a depth to high magnetite material of around 200 metres.
Drill testing is planned for the northern portion of the anomaly, where a positive residual gravity high coincides with the magnetic position.
At Tanners Dam (EL 4814), located immediately south of Sherrys Dam, drilling will focus on a volcanic-hosted uranium target associated with magnetite poor Hiltaba granite intruded into Gawler Range Volcanics.
Historic exploration within the area has defined highly geochemically anomalous lead, zinc, gold, silver and rare earths, with strongly iron-altered quartz veined dacite breccias carrying up to 10% fluorite.
The area offers potential analogies to the ore-forming environment of the Streltsovska district in Transbaikal Russia, which represents the largest volcanic-hosted uranium (-only) occurrence known, with past and in situ resources of over 500 million pounds U3O8.
Drilling over Tanners Dam will be co-funded by a drilling grant awarded to Renaissance by the South Australian Government.
Renaissance has obtained all necessary approvals to begin a four hole, 750 metre reverse circulation drilling program.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong/China.