| Preliminary Geological compilation and interpretation is in progress. Digital capture of all previous drill has been completed by Resource and Exploration mapping (REM) in Brisbane. A program of up to 1500m of Reverse Circulation drilling is expected to commence in early-mid May 2007.
EPM (Exploration Permit Minerals) consists of 11 sub blocks (36 sq kms) 10 kms north east of Quamby (45 kms from Cloncurry) in north western Queensland (The Mt Isa Block).
The EPM was acquired in order to explore for Uranium deposits in sedimentary palaeochannel environments and Ernest Henry style hydrothermal iron oxide copper gold deposits.
At Glen Isla the uranium mineralisation is considerably younger than the spatially-related igneous rocks. This is the generally case for the calcrete, sandstone and unconformity-related deposits in Australia. The model implies that this deposit has formed as a result of uranium mobilisation from older uranium-enriched source rocks (Naraku granite) under low temperature oxidising conditions, and precipitation by oxidation-reduction (redox) reactions in the overlying Jurassic and Mesozoic Gilbert River and Wallumbilla formations respectively.
The grades of mineralisation are likely to reflect interplay of the availability of uranium and the efficiency of the redox systems. The "Main Channel" deposit estimates run at an average grade of .058% U3O8 however no economic resource of Uranium is currently defined to JORC compliance. A number of prominent aeromagnetic features are present within the basement rocks of the tenement and may present potential for IOCG (iron oxide copper gold mineralisation) similar to the nearby Roseby and Ernest Henry deposits.
|
