Uranio Limited has announced a maiden Inferred Resource Estimate (IRE) for the Double 8 uranium prospect at Ponton in Western Australia of 4,960 tonnes uranium oxide (U3O8) at a 200 ppm cutoff, as reported by independent resource consultants Hellman & Schofield.
In addition, the exploration results have identified further mineralisation potential at Double 8 of between 6.6 and 15.4 Mlb of U3O8 at the 200 ppm cutoff, according to the company.
An IRE of 16 million tonnes grading 310 ppm equivalent uranium oxide (eU3O8) containing 4,960 tonnes (10.9 Mlb) of uranium oxide at a cutoff of 200 ppm eU3O8 for the Double 8 Prospect is reported.
The resource estimates are based on RC drilling by PNC Exploration (PNC) in the mid 1980s, and are classified as Inferred in accordance with the JORC (2004) Code.
According to a statement to the ASX, reported exploration results identify further uranium mineralisation potential based on PNC’s drilling, of 10 to 20 million tonnes grading 300 to 350 ppm eU3O8 containing 3,000 to 7,000 tonnes (6.6 to 15.4 Mlb) of uranium oxide at the same 200 ppm cutoff at Double 8.
The Double 8 Prospect is located within Uranio’s Ponton project area at the south-western margin of the Officer Basin, about 180 km east-northeast of Kalgoorlie, Western Australia.