Eleckra Mines Limited ("Eleckra, Company") was listed on the ASX on 4 July 2006. The Company owns 100% of the Yamarna Gold Project, a sizeable tenement package totalling approximately 3,200km2, covering the majority of the Yamarna greenstone belt. Eleckra's prospective uranium tenement portfolio around the Yamarna region covers an additional area of approximately 900km2.
Yamarna is located on the eastern margin of the Archaean Yilgarn Craton in WA, 900km north-east of Perth and 140km east of Laverton. The Yilgarn Craton hosts numerous world class gold orebodies and accounts for more than half of Australia's 8 moz annual gold production.
The updated resource for the Yamarna Gold Project was announced on the ASX on 1 September 2008, totalling 749,000 ounces of gold (13.1 mt at 1.78 g/t Au).
In the first half of 2010 the Company completed over 11,000 metres of reverse circulation (RC) drilling at its Central Bore project area, where the high-grade intercepts were confirmed over a 800m strike length, and down to a depth of 300m. The highest grade intersected was 3m at 136g/t Au from 192m, incl. 1m at 404g/t (~13oz/t). A further 7,000 - 10,000 metres of RC was started in October 2010, focussing on Central Bore and Justinian prospects. The highest grade intersected so far in this drilling program was 5m at 146g/t Au from 226m, incl. 1m at 676g/t (~21oz/t). The maiden resource for Central Bore is expected to be announced early in 2011.
The Company holds several granted tenements and tenement applications that cover sections of the Thatcher Soak calcrete hosted uranium prospect and northern and southern extensions of the Thatcher Soak drainage channel. Thatcher Soak was drilled in the 1970's by previous uranium explorers and carnotite materialisation within a paleochannel drainage system has been delineated within a zone approximately 7.5km long and 200m – 1,000m wide, between 0.5m and 5m in thickness below 1m – 2m of overburden.
The Company announced its maiden uranium resource estimate on 15 September 2008 containing 6.2 million pounds of U3O8 (approximately 2.8kt) (16.1 mt at 174 ppm U3O8).
The Company has applied for 1,100 km2 of new exploration tenements between Yamarna and AngloGold / Independence's Tropicana gold deposit, which we have called "Golden Sands". Regional aeromagnetic surveys and reconnaissance geochemical sampling is planned.