{"id":5342,"date":"2024-02-05T00:01:08","date_gmt":"2024-02-05T00:01:08","guid":{"rendered":"https:\/\/economicherald.net\/?p=5342"},"modified":"2024-02-05T00:01:08","modified_gmt":"2024-02-05T00:01:08","slug":"marmotas-bridget-shows-enormous-uranium-potential","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5342","title":{"rendered":"Marmota\u2019s Bridget shows enormous uranium potential"},"content":{"rendered":"

\u00a0<\/p>\n

Uranium expert carried out Stage 2 of review of Marmota\u2019s Junction Dam uranium resource and surrounding prospects, immediately adjacent to the Boss Honeymoon tnenement
\nReview has identified not only but two distinct uranium bearing formations from two distinct geologist ages coincident within the Bridget prospect area
\nNamba channel has what appears to be a huge 20m high stacked uranium roll front
\nMineralisation similar to Beverley Uranium mine<\/p>\n

\u00a0<\/strong><\/p>\n

Special Report<\/em>: The results of a review at the Bridget prospect, outside the known 5.4 Mlbs Junction Dam project, have identified two distinct, largely untested uranium bearing formations that require follow-up drilling. <\/strong>\u00a0<\/strong><\/p>\n

Marmota\u2019s (ASX:MEU<\/a>) Junction Dam project in South Australia already boasts a 5.4 Mlbs uranium oxide resource at an average grade of 557ppm U3O8 within the Saffron deposit, as well as an exploration target between 22 Mlbs and 33Mlbs at 400-700ppm U3O8.<\/p>\n

For context, this is similar to the average grades over at Australia\u2019s next uranium miner, the\u00a0 $2.5bn market cap Boss Energy\u2019s (ASX:BOE)<\/a> and its adjacent Honeymoon mine, home to one of four permitted uranium projects in Australia.<\/p>\n

South Australia has quickly become the go-to uranium jurisdiction for advanced exploration stocks like MEU and \u00a0Alligator Energy (ASX:AGE) in the hunt for a uranium company maker.<\/p>\n

\u00a0<\/p>\n

Steps to grow uranium resource <\/strong><\/h2>\n

MEU started life as a successful uranium explorer before Fukushima, defining the Junction Dam resource area (at the Saffron deposit) and is now planning to significantly expand it fby bringing in the Bridget and Yolanda prospects, which have not been included in the project\u2019s resource estimate.<\/p>\n

A recent review of Bridget has provided significant scope for growth of the resource at Junction following the identification of two separate uranium-bearing formations from two distinct geological ages \u2013 the Eyre Formation and the Namba Formation \u2013 separated by more than 10 million years.<\/p>\n

Conducted by uranium specialist Mark Couzens, the review has highlighted two Namba Formation paleochannels with uranium mineralisation at the base of the channel, similar to Heathgate Resources\u2019 Beverly uranium mine, as well as two Eyre Formation paleochannels.<\/p>\n

Importantly, MEU says one of the Namba channels has what appears to be a huge 20m high stacked uranium roll-front, comparable to what is seen at the Four Mile uranium deposits.<\/p>\n

Meanwhile, one of the Eyre Formation channels extends from the Saffron deposit to the south while the other enters from the southwest, similar to those seen in Marmota\u2019s Saffron uranium deposit.<\/p>\n\n

Paleochannel interpretation of the Bridget prospect showing priority drilling regions. Pic: Supplied (MEU)<\/em><\/p>\n

\u00a0<\/p>\n

Exciting developments changes concept of size and scope <\/strong><\/h2>\n

\u201cThe outcome of this review at Bridget is more exciting than we could possibly have imagined,\u201d MEU chairman Colin Rose says.<\/p>\n

\u201cIt has completely changed our concept of the size and scope of uranium mineralisation at Junction Dam.<\/p>\n

\u201cIn particular, the revelation that there is not one, but two uranium systems of different ages, both fortuitously coincident, as well as the existence of what appears to be a huge 20m high stacked uranium roll front, and the existence of Beverley-style mineralisation are all enormously exciting developments.\u201d<\/p>\n

These additional areas of interest are largely untested, however, based on the geological interpretation, have the potential to host suitable sedimentation for the deposition of uranium mineralisation and require follow up drilling.<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with Marmota, a Stockhead advertiser at the time of publishing. <\/em>\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Marmota\u2019s Bridget shows enormous uranium potential<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0 Uranium expert carried out Stage 2 of review of Marmota\u2019s Junction Dam uranium resource and surrounding prospects, immediately adjacent to the Boss Honeymoon tnenement [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5343,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nMarmota\u2019s Bridget shows enormous uranium potential - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=5342\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marmota\u2019s Bridget shows enormous uranium potential - 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