PriceSensitive

Cauldron unveils uranium hits from key part of Yanrey project – but investors likely want more

ASX News, Materials
ASX:CXU      MCAP $16.07M
05 November 2024 10:21 (AEDT)
Uranium processed crystallised

Adobe Stock

Cauldron Energy (ASX:CXU) has unveiled its latest drill hits on-site at Manyingee South as the miner sniffs after uranium mineralisation.

Rather than getting bogged down in grades, Cauldron appeared to be asserting on Tuesday, the results ultimately show north-south near-surface mineralisation extends across a 3km streak which is, at its widest point, some 1.1km the other direction.

With that said – only one sample highlighted on Tuesday graded above 1,000 parts per million (ppm). Worth noting, 10,000ppm = 1%.

Uranium projects of Yanrey’s calibre are not necessarily rare strangers to low ppm concentrations. What could be more concerning for potential investors is the widths of drill hits highlighted on Tuesday were all less than five metres.

Then again, the company knows this.

“The Manyingee South channel is one of several palaeochannels already identified in Cauldron’s tenement area with each channel holding potential to host uranium mineralisation and requiring future drill testing,” Cauldron wrote.

Despite a hostile attitude towards uranium mining and production from the Western Australian government, Cauldron continues on with its chief Jonathan Fisher renowned for being vocally pro-nuclear-feedstock-minerals.

“The drilling at Manyingee South has enabled a better understanding of the paleochannel system in the immediate area and further improves our understanding of the regional prospectivity,” Fisher said.

“Forward planning is focussing on other targets which can be systematically tested in future drilling campaigns.”

The company will go after further targets in the next seven days.

CXU last traded at 1.4cps.

Join the discussion: See what HotCopper users are saying about Cauldron Energy and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

Related News