Renaissance Uranium (ASX: RNU) can now proceed with mineral exploration on EL 5012, part of its wholly-owned Eastern Eyre Project in South Australia, after being granted a Deed of Access by the Department of Defence.
Eastern Eyre is located within the Olympic Dam iron-oxide, copper-gold-uranium (IOCGU) belt, where Renaissance has identified multiple untested targets prospective for large, IOCGU-style mineralisation.
The Olympic Dam IOCGU belt includes the giant BHP Billiton-operator mine (500 million tonne ore reserve at 1.84% copper, 570ppm U3O8 and 0.76 grams per tonne gold) that gave the region its name; the 203Mt at 1.31% copper, 0.56g/t gold and 270ppm U3O8 Carrapateena project; and the Hillside project with an Inferred Resource of 214Mt at 0.7% copper, 0.2g/t gold and 12.4% iron.
Renaissance will now seek final regulatory approvals with the Department of Defence and South Australian Mines Department to start drilling early next quarter.
The company plans to drill multiple targets across the Eastern Eyre Project.
EL 5012 is situated west of the Department of Defence’s Cultana Training Area and forms part of proposed extensions to the training area.
As a condition to gaining access to EL 5012 for the purpose of exploration, Renaissance has agreed to conform to the Department of Defence’s exploration protocols contained within the Deed of Access.
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