GPN greater pacific gold limited

high grade uranium results

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    FURTHER HIGH GRADE URANIUM RESULTS RETURNED
    FROM ROBINSON RANGE
    • High-grade mineralisation up to 0.22% uranium returned from the Anne Prospect. Host structure/stratigraphy has a minimum 500m strike length before disappearing under cover.
    • Visible carnotite mineralisation within weathered
    metasediments discovered at the Billara Bore 2 Prospect. Assays up to 925ppm uranium.
    • Anne prospect host unit not tested by earlier Agip drilling.
    Montezuma is pleased to announce continuing excellent uranium results from its 70% owned Robinson Range Joint Venture with Greater Pacific Gold Limited.
    The sampling programme was designed to follow up previous work by Agip in the 70’s and targeted two existing prospects at Billara Bore 2 and Anne.
    Anne Prospect
    Sampling at the Anne Prospect has returned high grade uranium mineralisation from a small costean dug by previous workers in the region. The costean transects a zone of metasediments near the contact between the gneissic basement and Naracoota Formation.
    Significant results (>100ppm uranium) are as follows.
    Significantly, the anomalism is associated with a horizon that can be traced at surface for approximately 500m before disappearing under cover. The current genetic model is that this presumably reducing
    metasedimentary horizon is forming a trap for uranium that has been sourced from the adjacent ‘hot’ basement. This geological setting provides excellent encouragement that the Anne Prospect carries
    potential for large, high-grade unconformity style ore bodies.
    Sample ID U (ppm)
    684697 372
    684700 2,220 (0.22%)
    684701 291
    684702 113
    684703 108
    684705 176

    Billara Bore 2
    Billara Bore 2 is a calcrete hosted uranium target
    located within the Naracoota Formation, along the
    southern margin of the anomalous ‘hot’ granitic
    basement. Uranium is present as carnotite within
    metavolcanic sequences hosted within calcrete and
    along carbonate mineralised fractures and fissures.
    Significant results (>100ppm uranium) are as
    follows.
    This style of mineralisation provides excellent
    potential for Yeellirrie style uranium deposits and
    follow up work will focus on the existing Billara Bore
    2 and Billara Bore 4 calcrete style Prospects as well as regional exploration for additional targets with similar potential. Further Work Planned
    Montezuma is very encouraged by both the style and tenor of uranium grades being consistently returned from this project, and intends to continue to actively explore the ground for economic occurrences.
    In addition to the uranium, continuing data review of historical work has identified several areas with
    significant gold potential which will a key focus of future work in tandem with the planned work at the
    recently acquired gold focussed Mt Padbury Project and with the uranium exploration work already underway.
    Justin Brown
    Managing Director
    Montezuma Mining Company Ltd
 
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