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Cauldron Energy Ltd (ASX:CXU) has posted a maiden mineral resource estimate of 15.5 million tonnes at 325 parts per million of equivalent triuranium octoxide, yielding 11.1 million pounds for the Manyingee South deposit in Western Australia.
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The estimate was made using a cut-off grade of 100 ppm eU3O8, and it brings the overall MRE for the Yanrey uranium project to 42Mlbs of eU3O8: This being a 35% increase from the previously reported number.
Cauldron referred to 78 aircore holes drilled in 2024 – plus five rotary mud drill holes completed in 2015 – to achieve the MRE for Manyingee South.
Yanrey stretches over 1,270 square kilometres in a uranium province of the same name and is located 100km south of Onslow. Its geology includes 80kms worth of prospective Cretaceous-age coastal plain and shoreline sediments.
CEO Jonathan Fisher declared reporting these numbers was a crucial step in Cauldron’s development in the area heading into the future.
“The Manyingee South deposit discovery, from our first exploration drilling programme since 2015, demonstrates the huge potential for additional uranium mineralisation to be discovered at Yanrey.”
He also acknowledged the WA government still has a ban on uranium mining.
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Mr Fisher added: “Cauldron is eagerly anticipating extending our exploration to the additional 20+ as yet untested targets within our Project area, and to potentially add substantially more uranium pounds at Yanrey.”
Cauldron last sold at 1cps today, a rise of 5.26% since market open.
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