Cauldron Energy (ASX: CXU) has intersected peak grades of nearly 1% uranium from its 5,000 metre drilling program at Bennet Well East within its Yanrey Uranium Project in Western Australia.
Further assay results from the hole where the peak grade was made include 3.3 metres at 1,596ppm uranium from 57.7 metres including 2.21 metres at 2251ppm uranium from 57.7 metres.
The drilling program was designed to test for potential extensions to the Bennet Well deposit and explore other identified palaeochannels within the project.
It has to date, identified a high grade paleo-channel about 1.6 kilometres long, 120 metres wide and open to both the north and south at the Yanrey project.
Previous peak grade results from drilling at high grade channel include:
- 2.7 metres at 1,021ppm from 40.6 metres ;
- 1.3 metres at 1,210ppm from 40.6 metres; and
- 1.9 metres at 777ppm from 43.4 metres.
The Bennet Well Deposit has an Inferred resource of 4.8 million pounds at 300 parts per million uranium.
Cauldron Energy now believes it has over 90 square kilometres of untested prime target areas which are favourable to uranium mineralisation.
Drilling is expected to be completed by mid-November.
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