Cauldron Energy (ASX: CXU) is preparing to release details on 'significant high grade drilling results' from the company's Yanrey uranium project in Western Australia.
Yanrey has In-Situ Leach mining potential, with the project hosting a Inferred Resource of
7.3Mt at 300ppm eU3O8 for 4.8Mlbs (2,200t) eU3O8 at a 150ppm cut-off. Yanrey has an exploration target of 25-35Mlb at 300-900 ppm eU3O8.
The project is strategically located between Paladin Energy's (ASX: PDN) 23.4Mlb Manyingee and Energia Minerals’s (ASX: EMX) Nyang 9.2Mlb Resources
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 26th October.
Cauldron a 'five bagger'
Cauldron's shares last traded at around $0.38 before the halt, with the company being very well supported by investors recently.
The company's stock traded at just $0.12 in mid-September before spiking to $0.60 a fortnight ago, making the company a 'five bagger' over that period.
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