Spinifex
Uranium Project (Thundelarra 100%)
The
Spinifex project consists of two tenements covering 720 square kilometres and
is located approximately 50 kilometres north of the Argyle diamond mine,
Western Australia. The actual Spinifex prospect was discovered in 1971 during a
regional airborne spectrometric survey. At the nearby Spinifex prospect, the high grade uranium mineralisation
discovered in 1972 (assays up to 13.5% U3O8)
occurs in the Hensman Sandstone and possibly represents secondary uranium
mineralisation remobilised from the underlying prospective unconformity.
All
statutory permits are now in place to allow the commencement of serious on
ground exploration activities. In the December 2007 quarter secondary uranium
mineralisation was discovered at the A1 prospect, a new radiometric anomaly
outlined by the Thundelarra airborne survey. Rock samples returned assays up
to 0.58% (13 lbs/t) U3O8 from sandstone blocks of
the Hensman Sandstone Formation. Further sampling of the original Spinifex
prospect, located 1.2 kilometres west of A1, returned assays of up to 4.16%
(91 lbs/t) U3O8. The mineralisation at both these
prospects occurs at or adjacent to the highly prospective Proterozoic Revolver
Creek/Hensman Sandstone unconformity. This unconformity is generally poorly
exposed due to the presence of talus deposits on steep hill slopes and
represents an extensive target for further exploration. |
