Ashburton

ASHBURTON – AUSTRALIA

URANIUM DEPOSITS

Angelo River prospect is a large, well mineralised Proterozoic uniformity uranium system.

  • 1978-1982, Pancontinental drilled 62 holes over 7km of the BB Fault 71 intercepts greater than 500ppm (approx. 1.1lb U3O8 per tonne)
  • High grade drill results including:
    • AR1004 10.5m @ 4,380ppm U3O8 incl. 4.5m @ 1.05%
    • AR1009 9.0m @ 3,490ppm U3O8
    • AR1028B 5.9m @ 3,300ppm U3O8
    • AR1032 7.9m @ 2,530ppm U3O8
    • AR1033 7.6m @ 2,530ppm U3O8
    • AR2010 7.4m @ 1,430ppm U3O8
    • AR2013 4.7m @ 820ppm U3O8
    • AR2013 3.7m @ 1,170ppm U3O8 and
    • AR2045 9.2m @ 1,340ppm U3O8
  • Angelo River A and B – non-JORC mineralization
  • Open along strike and down dip – high grade, advanced exploration
  • Negligible work has been undertaken in the last 40 years

Multiple other prospects to explore

  • Atlantis: Significant uranium intersections include:
    • 5.5m @ 0.62% U3O8
    • 2.2m @ 0.74% U3O8, and
    • rock chip samples of up to 37% U3O8
  • NOG: Rock chip samples include:
    • 3.03% U3O8
    • 0.71% U3O8 and
    • 0.67% U3O8
    • associated with surface uranium radiometric anomalies
  • Canyon Creek: Rock chip samples include:
    • 1.0 % U3O8
    • associated with surface uranium radiometric and Tempest EM anomalies

Tempest EM identified deeper conductors with coincident surface radiometric anomalies at:

  • Peacock
  • Peacock West
  • Ristretto and
  • Anomaly 22

RARE EARTH ELEMENTS

The Ashburton Project area also includes the Livanto rare earth elements (REE) prospect.

Rock chip sampling has returned high grade REE results including Ce (to 3.19%), La (to 1.50%), Y (to 0.44%), Pr (to 0.81%) and Nd (to 3.59%).

The REE mix in the rock samples is dominated by the “middle” REEs – Pr, Eu, Gd, Nd, Sm, which make up 59% of the total REEs.

A high proportion of “heavy” REEs – Tb, Dy, Ho, Eb, Tm, Yb, Lu accounting for 7% of the total REEs.

The two lightest REEs, Ce and La, account for 34% of the mix.

The Livanto prospect represent a potentially high-value REE package and warrants a detailed exploration programme to determine the extent of the mineralization.