Peninsula Energy (ASX:PEN) has revealed very high-grade near surface intercepts from further radiometric re-logging of UCEX drill holes at the Rietkuil project area.
Rietkuil is 40 kilometres west of Beaufort West at Peninsula’s Karoo Projects in South Africa.
Results from further radiometric re-logging of existing drill holes completed in November and December 2015 include:
- 9.4 ft at 3,725 ppm eU3O8 from 47.6 ft;
- 4.1 ft at 4,659 ppm eU3O8 from 46.4 ft;
- 3.1 ft at 4,145 ppm eU3O8 from 33.0 ft;
- 3.9 ft at 3,032 ppm eU3O8 from 36.9 ft; and
- 4.6 ft at 2,553 ppm eU3O8 from 141.0 ft.
Intercepts will add to the existing JORC Resources.
Peninsula said that results from all blocks investigated to date have demonstrated very high grade mineralisation at shallow depths with a further 44 significant intersections returned from 91 historic holes at Blocks D(W) and D(E) during November and December 2015.
Overall 119 significant intersections have been returned from a total of 320 re-logged holes since mid-2014.
Re-logging is occurring in holes originally drilled by Union Carbide Exploration Corporation (UCEX) during the 1970’s and continues to successfully validate the location and grade of the mineralisation that was delineated by UCEX at that time.
Probing and re-logging is occurring in areas that are outside the existing JORC Resource and information from this work will be included in an updated resource for the Karoo Projects.
This will follow any additional evaluation work that may be required.
Rietkuil history
The Rietkuil deposit was the first major uranium occurrence to be discovered in the Karoo by UCEX in 1970 and is located in the upper-most sandstones of the Abrahamskraal formation.
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