- Vimy Resources (VMY) intersects uranium mineralisation at its Angularli Deposit in the Northern Territory
- Results have been received for two holes that extended the deposit 200 metres up-dip above the unconformity boundary
- Up to 1.42 per cent uranium oxide was intersected and additional drilling will be undertaken up-dip from the current holes to further extend the mineralisation
- Drilling will then be undertaken at the Angularli North Prospect and along strike of the Angularli fault with results to be incorporated into the mineral resource estimate
- Shares in Vimy are up 2.78 per cent on the market and are trading at 18.5 cents at 12:00 pm AEST
Vimy Resources (VMY) has intersected uranium mineralisation at its Angularli Deposit in the Northern Territory.
Results have been received for two holes that extended the deposit 200 metres up-dip above the unconformity boundary.
Better results come from hole ARDD0004 which intersected 6.35 metres at 0.95 per cent uranium oxide from 217.9 metres including 2.95 metres at 1.42 per cent uranium oxide from 221.3 metres.
Additional drilling will be undertaken up-dip from the current holes to further extend the known mineralisation.
Once these holes have been drilled, the Angularli North Prospect and along strike of the Angularli fault will be tested.
Following this, Vimy will undertake resource extension drilling down-dip of the Angularli resource which remains open at depth.
Results from this work will be incorporated into the mineral resource estimate for Angularli which is expected later in the year.
“Our team is very excited by the early success achieved in the first two holes at Angularli, which contains the highest uranium grade of any known uranium resource within Australia,” CEO and Managing Director Steven Michael said.
“These first two holes continue to demonstrate the growth potential of Angularli to increase in scale and value. Drilling continues with additional up-dip and down-plunge holes and Vimy expects to update the mineral resource in late 2022.”
Shares in Vimy were up 2.78 per cent on the market and were trading at 18.5 cents at 12:00 pm AEST.