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Projects |
Thatcher SoakEleckra's Thatcher Soak Project hosts a portion of a uranium deposit identified by previous 1970's explorers in the area. Eleckra's own review of this prior exploration has highlighted the potential for the presence of significant calcrete uranium mineralisation within Eleckra's tenements. The adjacent tenements, containing the western portion and potential extensions of this deposit are held and actively explored by competitor Uranex NL ("Uranex"). The better historical results are shown in Table 1
During October and November 2007, Eleckra completed 450 vertical Aircore holes for 4,792m at its Thatcher Soak Uranium Project. Eleckra's review of past exploration at Thatcher Soak coupled with positive conclusions from the independent experts report and encouraging results released by Uranex NL resulted in the Company's decision to plan a first round Aircore drilling program at its Thatcher Soak Uranium Project. Eleckra is well placed to rapidly redefine the deposit and explore for possible extensions. In a release to the Australian Securities Exchange on 28 June 2007, Uranex announced that "extensive uranium mineralisation has been intersected in the first round of drilling at its Thatcher Soak uranium project" and "tonnage and grade estimates are anticipated during the last quarter of this year, and a decision to proceed to a feasibility study made shortly thereafter". Importantly for Eleckra, Uranex outlined higher grade peak equivalent U3O8 values between 500 - 1000 ppm or greater along sections of the eastern boundaries of its tenements contiguous to Eleckra's Thatcher Soak tenements E38/1083 & E38/1388. In addition Uranex intersected a second deeper mineralised calcrete position between 9m and 15m depth. Eleckra is particularly encouraged by the Uranex results which supports the potential for higher grade calcrete mineralisation within Eleckra's tenements. The scope for a second deeper underlying zone of mineralisation adds further upside to the ultimate magnitude of potential calcrete mineralisation within Eleckra's tenements at Thatcher Soak. Drilling ProgrammeDuring October and November 2007, Eleckra completed 450 vertical aircore holes for 4,792m at its Thatcher Soak Uranium Project. The aim of this first round of drilling was to systematically test the paleochannel for calcrete-hosted uranium mineralisation at Thatcher Soak and Thatcher Soak North (adjacent to Khan North gold prospect). The results of this program were announced to the ASX on 23 January 2008. ResultsDown hole calibrated gamma probe (eU3O8) results have been received with 44% of the holes intersecting anomalous values >100 ppm eU3O8 and minimum thickness of 0.2m. The most significant intercepts as indicated by the gamma probe data are summarised in Tables 2 and 3. It is emphasised that these gamma probe results provide uranium equivalent grades (eU3O8) and are to be considered preliminary and subject to confirmation by geochemical assays that are expected to be available during March - April 2008. Thatcher Soak hole intersections greater than 300 ppm eU3O8 using 100 ppm eU3O8 cut-off and minimum thickness of 0.2m. Maximum values quoted are maximum response as recorded over 0.02m down hole interval.
The gamma probe results indicate that a number of holes intersected deeper levels of uranium mineralisation at several localities at depths between 6m and 14m. The best intercepts are summarised in Table 2. This mineralisation appears to be associated with calcareous sand and clays. Thatcher Soak hole intersections of lower mineralised zone using 100 ppm eU3O8 cut-off and minimum thickness of 0.2m.
Significance of ResultsThe down hole gamma probe results are considered encouraging, indicating that mineralisation extends over total area of approximately 7km2 using a 100 ppm eU3O8 cut-off and minimum thickness of 0.2m. The maximum dimensions of the mineralised zones are 7km long by 1.5km wide at Thatcher Soak and 3km long by 0.5km wide at Thatcher Soak North. The probe results indicate the vertical thickness varies from 0.2m to 2.8m with an average of 0.8m. Most of the mineralisation is within 6m of the surface and is interpreted to form multiple sub-horizontal sheets of calcrete / gypsum, calcareous sand and clay. There is potential for the mineralisation to extend further to the south / south west as indicated by an airborne radiometric anomaly which is approximately 8km long within Eleckra's tenements E38/1798 and E38/1315. A number of holes that were drilled deeper have identified mineralisation at depths between 6m and 14m. This deeper mineralisation has been identified in a few localities and requires further deeper and systematic drilling to estimate its full extent, however, the initial results are encouraging. Follow UpInterpretation of the results from this initial drilling programme will be completed upon receipt of the geochemical analyses. The down hole probe results are however considered sufficiently encouraging to commence planning a follow up drilling programme on a 100m by 100m grid to determine continuity of mineralisation at Thatcher Soak. It anticipated that this follow up programme, planned for April - May 2008, would provide sufficient data to prepare an Inferred Mineral Resource estimate for Thatcher Soak by late 2008. |
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