Uranium

Oceana Lithium defines Large Uranium Anomaly at NT Napperby Project

Wed 15 May 24, 9:30am (AEST)
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This article was written in collaboration with Oceana Lithium.
uranium mining
Source: Shutterstock

Key Points

  • Oceana Lithium has identified a large uranium anomaly at its 100%-owned Napperby Project in the Northern Territory
  • Re-examination of the data supports a ‘roll-front’ style uranium mineralisation interpretation for the anomaly
  • The company is using the latest data to optimise field activities next month, aiming to narrow down targets for a future drilling campaign

Oceana Lithium has been in the news recently, updating the market about a large uranium anomaly at its 100%-owned Napperby Project in the Northern Territory.

Late last month, Oceana announced that the results of recent soil sampling had defined a uranium anomaly more than 4.5km in length and up to 700m in width. Re-examination of hyperspectral data by HyVista Pty Ltd supports ‘roll-front’ style uranium mineralisation interpretation for the anomaly.

The Paleoproterozoic Wangala and Ennugan Mountains granites have long been recognised as “Hot Granites” and known to be anomalously enriched in a range of elements including uranium, thorium and rare-earth elements (REEs).

Both granite plutons show outstanding uranium/thorium ratios and are almost fully encapsulated within Oceana’s Napperby Project leases EL32836 and ELA32841 (under application), as shown in Figure 1 below.

Picture1
Figure 1: Granite plutons show outstanding uranium/thorium ratios

A total of 107 samples were collected in the last campaign at 200m spacings for approximately 30 line-km. Although initially targeting lithium, the results from the soil sampling have defined a large arcuate uranium anomaly, as shown in Figure 2 below.

Picture2
Figure 2: 107 samples were collected in the last campaign at Oceana’s Napperby Project

Oceana further updated the market 15 May, citing historical information from Callabonna Uranium Ltd (“Callabonna”) between 2009 and 2013 further enhance uranium prospectivity at Napperby.

Shallow diamond drilling completed by Callabonna revealed secondary enrichment of uranium with a peak of 1170 ppm U.

Callabonna completed a shallow 3-hole diamond drill program (Table 1) on a granite exposure previously named the Platform Prospect. These holes were designed to target anomalous uranium values (100 to 1000 ppm U) ascertained from rock chip assays and ground radiometrics (collected using a handheld gamma-ray spectrometer), to determine if higher-grade uranium mineralisation occurred at depth or was restricted to the surface weathering profile.

Hole

Easting

Northing

Depth (m)

Dip

DP1

201775

7545230

0.2

90

DP2

201778

7545226

1.4

90

DP3

201750

7545225

0.46

90

Table 1: Callabonna’s Historical Drill Hole Collars (Geodetic datum GDA94)

A total of 9 intersections were assayed from the 3 holes and revealed a near-surface secondary enrichment of uranium with a peak of 1,170 ppm U at 2cm depth in drillhole DP1 with deeper intercepts (below 17cm) returning uranium values below 100 ppm U (Table 2).

Sample ID

Drill Hole

Interval (meters)

U in ppm

CALA0270

DP1

0 to 0.01

154.5

CALA0271

DP1

0.01 to 0.02

1170

CALA0272

DP1

0.15 to 0.19

97.8

CALA0273

DP2

0.01 to 0.03

383

CALA0274

DP2

0.25 to 0.29

17.9

CALA0275

DP2

0.45 to 0.49

11.7

CALA0276

DP2

1.1 to 1.12

13.45

CALA0277

DP3

0.01 to 0.02

213

CALA0278

DP3

0.44 to 0.46

77.1

Table 2: Callabonna’s Historical Drill Hole Results

Anomalous uranium values (100 to 1000 ppm U) were ascertained from 35 rock chip assays and ground radiometric data, collected using a handheld gamma-ray spectrometer (Figure 3).

Picture3
Figure 3: Location of Callabonna’s historical results within Oceana’s EL32836

Oceana’s CEO Caue (Paul) Araujo commented that “The historical information from Callabonna has not only boosted the uranium prospectivity of Napperby but has also provided strategic information for the optimization of our field activities in June. We look forward to firming up targets for drilling as soon as practicable”.

DISCLAIMER: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Oceana Lithium Ltd was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice. Consider consulting a qualified financial adviser before making an investment decision.

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Market Index helps ASX-listed companies connect with a large audience of Australian investors through clear and concise content about key developments. All coverage contains factual information only and should not be interpreted as an opinion or financial advice. Consider consulting a qualified financial adviser before making an investment decision.

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