Cauldron Energy Limited (ASX:CXU) Expands Yanrey Project with Six Tenement Acquisition
Settlement and Tenement Acquisition
Cauldron Energy has settled cost order payments with Wyloo, receiving $175,000 in cash and acquiring six tenements covering 177.3 km² near its existing Yanrey Project. The newly acquired tenements, including E08/3204, border the Manyingee South Deposit, potentially extending mineralisation several kilometres.
Mineral Resource Estimate
The company announced a maiden Mineral Resource Estimate for the Manyingee South Deposit of 15.5 Mt @ 325 ppm eU₃O₈, totaling 11.1 Mlbs eU₃O₈, using a 100 ppm eU₃O₈ cut-off grade.
Executive Comments
CEO Jonathan Fisher stated, “The acquisition of these six tenements is part of our strategy to expand our footprint at Yanrey in what we expect will prove to be a very fertile uranium province. Settlement of the long running legal matter now allows Cauldron’s management to focus all of its energies on its uranium exploration activities at Yanrey”.
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