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Vimy Resources Ltd.
Summary
| Project: | Alligator River | |
|---|---|---|
| Deposit: | Such Wow | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 12/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-12-2018: Vimy Resources Ltd. announces an Exploration/Drilling Update report for its Such Wow deposit at the Alligator River project. Drilling results incl. 1.4m @ 0.07% eU3O8 from 143.4m. Vimy Resources Limited (ASX:VMY) is pleased to announce exciting | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Xavier Moreau (Internal) | |
| ABSTRACT: | Vimy Resources Limited (ASX:VMY) is pleased to announce exciting results from its maiden drilling program at the Alligator River Project in Arnhem Land, Northern Territory. The Such Wow prospect is located within the King River-Wellington Range Joint Venture (75% Vimy Resources, 25% Rio Tinto Exploration Pty Limited). This previously undrilled prospect is deemed to be highly prospective for unconformityrelated uranium mineralisation based on the presence of the Cahill Formation, alteration and structural features identified from surface mapping and sampling, combined with available geophysical data. The wide-spaced drilling program focused on targeting broad alteration haloes coincident with NW to NNW-striking fault zones, normally associated with uranium mineralisation at the Alligator River Project and similar to those at the Angularli deposit. Drilling comprised six Reverse Circulation (RC) drill holes for a total of 1,416m. The Such Wow prospect is a stand-out exploration target due to the overall size of the structural corridor (more than five times the size of the Angularli prospect) with thin sandstone cover, and surface expressions of hydrothermal alteration associated with uranium mineralisation. Vimy Managing Director and CEO Mike Young said “We are really excited by the results of our maiden drilling program at Such Wow. It’s the sheer size of the Such Wow prospect that we find remarkable. The combination of surface alteration and structural features, along with significant uranium anomalism in our last drill hole, reinforces its potential. “Our exploration team has over twenty years of combined uranium experience in Arnhem Land and they have never seen a clear-cut surface expression of potential uranium mineralisation as was mapped at the Shiba Zone about 120 metres above the unconformity. “We’re confident that future drill programs at Such Wow will prove up more uranium mineralisation and help to build a pipeline of projects.” | |
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