Renaissance Uranium (ASX:RNU) is expected to trade higher this morning after intersecting extensive sulphide mineralised zone in four holes drilled at the 1050 East prospect, which is part of the wholly-owned Eastern Eyre Project in South Australia.
The project is located in the southern portion of the Olympic Dam iron-oxide, copper-gold-uranium belt, with RNU completing seven first-pass holes for 1150 metres.
Drilling focused primarily defined geochemical targets, intersecting extensive zones of sulphide mineralisation in four holes drilled at the 1050 East prospect, covering an area 300 metres by 30-50 metres, open along-strike and at depth.
Visual examination of drill samples suggests mineralised zones contain up to 50% pyrite, with chalcopyrite present in higher sulphide zones; visual estimation of chalcopyrite levels was hampered by fine grain size and intense pyrite development.
Extensive sulphide development hosted within a mid-Proterozoic Gawler Range Volcanic sediment package confirms potential for economic ore bodies within the eastern boundary of the Roopena Fault zone.
Samples have been dispatched for multi-element assay analysis, with results expected within two weeks.
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