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Cauldron Energy (ASX:CXU) is expanding territory at its Yanrey uranium project in Western Australia through the acquisition of six tenements after a successful court case and agreement with another mining company, Wyloo.
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The agreement will see four granted tenements and two tenement applications – stretching over 177.3 square kilometres – transferred by Wyloo to Cauldron.
Crucially for Cauldron Energy, these tenements are close to those encompassing the Yanrey project, which is 100 kilometres south of Onslow.
The deal between the two companies comes after Cauldron won a court case in late 2024 concerning its attempted acquisition of a sand tenement in the Onslow area.
Earlier this month, Cauldon announced a maiden mineral resource estimate of 15.5 million tonnes (Mt) at 325 ppm eU3O8 (triuranium octoxide) or 11.1 million pounds (Mlbs) eU3O8
using a cut-off grade of 100 ppm eU3O8 at Yanyre’s Manyingee South deposit, which one of the new tenements abuts.
“The acquisition of these six tenements is part of our strategy to expand our footprint at Yanrey in what we expect will prove to be a very fertile uranium province,” Cauldron CEO Jonathan Fisher said today.
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“Settlement of the long-running legal matter now allows Cauldron’s management to focus all of its energies on its uranium exploration activities at Yanrey.”
Cauldron shares have been trading at 0.8 cents.
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