Join our daily newsletter At The Bell to receive exclusive market insights
Gladiator Resources (ASX:GLA) has confirmed the presence of high-grade uranium in various parts of its Mkuju project in Tanzania, in addition to the potential extension of one deposit, according to laboratory analysis done on core samples.
Analysis of the core sample reinforced the high-grade intersections that had been taken from last year’s drill holes at SWC and Mtonya target, plus Likuyu North (with this including 7.1 metres at 1963 parts per million (ppm) eU3O8 in one hole, LNDD020).
The core – taken from Gladiator’s June to September drilling program – was analysed through the X-ray fluorescence (XRF) method by SGS Johannesburg in October, with results received two months later.
Together with a review of historic drill samples, this lab analysis showed an extension of Likuyu North by 350 metres to the south, with two layers highlighted: 1,031ppm U3O8 over 0.4 metres and 690ppm U3O8 over 1.7 metres, both intersected by downdip hole LNDD015.
Aircore drilling from 2011 indicated the extension of one or two layers over an area similar in footprint to the existing 4.6Mlb mineral resource estimate (MRE).
This target is set to be drilled in the future, as Gladiator works towards expanding Likuyu North, with plans to use InSitu Recovery (ISR) – the preferred method of uranium mining – there.
Gladiator shares have been trading flat at 1.1 cents, following an earlier rise.
Join the discussion: See what HotCopper users are saying about Gladiator Resources 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.
-1200x645-380x200.jpg)
