May/June 2013 - The ASIA Miner

Australia
CORE Exploration has re-commenced drilling
to follow-up an outstanding uranium discovery
on its Fitton project in northern South
Australia. The new 2500-metre reverse circulation
program is targeting down-dip and
strike extensions of the high-grade uranium
mineralization discovered by Core’s first drilling
program at the Scott Lee Prospect within
the Fitton project late in 2012, which included
5 metres @ 0.25% U3O8.
The RC drilling will also follow-up anomalous
uranium intersected on the large geophysical
target at Fitton’s Hamilton prospect and surface
mineralization (1400ppm U3O8) found at
the new Bruce Lee prospect, 300 metres to
the west of Scott Lee, in February 2013.
The Hamilton prospect has added value to
Fitton with significant uranium and copper intersections
returned from initial drilling. The
results have confirmed that Hamilton, which
is Fitton’s largest anomaly, hosts geology very
similar to the high-grade Scott Lee prospect.
Core’s first drilling program at Fitton discovered
high-grade uranium within broad
intersections of mineralization within the
shear zone at Scott Lee. Anomalous copper
and uranium mineralization was also intersected
at Hamilton.
According to Core’s managing director Stephen
Biggins, the four test holes drilled into
Core resumes drilling at Fitton project
Hamilton, a large northeast trending magnetic
anomaly 2km-long by 200 metres wide,
satisfy the company that the target is highly
prospective for high grade mineralization similar
to Scott Lee, itself described by Core as
‘an outstanding discovery in a world-class
uranium province’. Fitton is in some of Australia’s
premier uranium acreage - being just
north of the Beverley, Four Mile and Mt Gee
uranium deposits, project developments and
mines in a proven world-class uranium mining
region, 500km north of Adelaide.
The first drill results at Hamilton confirmed
that the mineralizing geology consists of a
Drilling at Core Exploration’s Fitton project in South Australia’s north.
sheared mafic dyke hosted by megacrystic
granite. Four shallow holes were drilled for 252
metres with anomalous copper and uranium
intersected in two holes. One hole intersected
3 metres at 104ppm U3O8 and another intersected
7 metres @ 1020ppm copper including
2 metres @ 2895ppm copper.
Considering the large size of the target at
Hamilton and that only 4 holes were drilled,
Core considers the prospect to be highly prospective
for high grade uranium mineralization.
Core’s first drilling campaign at Fitton in late
2012, comprised a total of 1902 metres of reverse
circulation targeting seven prospects.
Gravity target identified at Eastern Eyre
RENAISSANCE Uranium has identified a standout
gravity target at the Nilginee prospect within
its Eastern Eyre Project on South Australia’s
Eyre Peninsula. The gravity anomaly measures
at least 3 milliGal amplitude over about 3sqkm.
The anomaly centre is coincident with a local
circular magnetic anomaly, within a broad zone
of elevated gold geochemistry.
Nilginee is in Exploration Licence (EL)
4721 of Renaissance’s Eastern Eyre Project,
which also includes EL 5012. Renaissance
has previously identified several high
priority geochemical targets at its 1050
East, 1050, Quondong and Malachite prospects
in EL 5012.
Gravity coverage within the remaining areas
of Eastern Eyre, which includes 2500 stations
covering 400sqkm, was recently completed
and is under review. On the basis of these results,
Renaissance has elevated the priority of
Nilginee, with drilling scheduled to commence
by the end of May. Further exploration work will
also be undertaken at high priority geochemical
targets previously identified within EL 5012.
The company’s exploration at Eastern Eyre
is targeting iron-oxide, copper-gold-uranium
(IOCGU) style and associated deposits within
the Roopena Fault Zone in the southern portion
of the Olympic Dam corridor. The majority
of this fault zone has not been recently
drill tested as a result, in part, of the proposed
expansion of the Department of Defence’s
Cultana Training Area, which extends into EL
5012 but does not impact EL 4721.
Recently, the Department of Defence and
the Government of South Australia agreed on
protocols for conducting exploration within
Cultana Training Area and proposed extensions
into EL 5012. With these procedures clarified,
in September 2012 South Australia’s
Department of Manufacturing, Innovation,
Trade, Resources and Energy granted Renaissance’s
licence application over EL 5012,
enabling it to begin on-ground activities.
In late 2012, Renaissance began pre-drilling
exploration over the project area, which
included an analysis of previous exploration
data. This led Renaissance to identify several
high priority geochemical, as well as geophysical,
drill targets within EL 5012. The
exploration program has also focused on
portions of EL 4721 to the southwest of the
Roopena Fault Zone. This area covers an inferred
north-south structural corridor separating
the palaeoproterozoic Lincoln
Complex in the east from the older Hutchison
Group metasediments to the west.
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