- Historical diamond drilling reveals secondary enrichment of uranium with a peak of 1,170ppm at Oceana’s Napperby project
- Anomalous uranium values (100 to 1000 ppm) were ascertained from 35 rock chip assays and ground radiometrics
- Integration of this historical information with Oceana’s database is ongoing to optimise upcoming field activities in June 2024
Special Report: A historical review of exploration results at Oceana’s Napperby project have enhanced the uranium prospectivity ahead of field activities in June.
The Napperby project in the Northern Territory’s Arunta province is an early stage, underexplored uranium project boasting a large 4.5km x 700m anomaly.
Oceana Lithium (ASX:OCN) delineated the anomaly via a soil geochemistry infill sampling program during the December quarter 2023.
Following its identification, the company has undertaken a detailed review of previous exploration by Callabonna Uranium between 2009 and 2013 which has identified multiple target areas.
Historical work reveals peak grade of 1170ppm U
Callabonna conducted exploration in search of uranium and REEs on the exploration lease named Mount Denison (EL 27181) following Arafura Resources (ASX:ARU) success at Nolan’s Bore to the east.
Callabonna completed a shallow 3-hole diamond drill program on a granite exposure previously named the Platform prospect, which was designed to target anomalous uranium values (100 to 1000 ppm U) ascertained from rock chip assays and ground radiometrics.
A total of 9 intersections were assayed from the 3 holes and revealed a near-surface secondary enrichment of uranium with a peak of 1,170 ppm U at 2cm depth in drill hole DP1 with deeper intercepts returning uranium values below 100 ppm U.
According to Callabonna, the assay results appear to support the field identification of uranium mineralisation in the upper 10-15 cm of the holes.
Below this level, the uranium values are an order of magnitude lower, implying that secondary enrichment of uranium has only occurred in the carapace of the granite.
Anomalous uranium values (100 to 1000 ppm U) were ascertained from 35 rock chip assays and ground radiometrics, collected using a handheld gamma-ray spectrometer.
Field activities to begin in June
OCN says it plans to verify the historical results by resampling some historical data points.
Future work may also include detailed auger sampling to define further uranium anomalies.
“The historical information from Callabonna has not only boosted the uranium prospectivity but has also provided strategic information for the optimisation of field activities in June,” OCN CEO Caue (Paul) Arajuo says.
“We look forward to firming up targets for drilling as soon as practicable”.
This article was developed in collaboration with Oceana Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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