HIGHLIGHTS • Drilling results identifies uranium mineralisation at Ida Valley Uranium project • Uranium mineralisation discovered within near surface calcrete • Drilling intersections of 4m • Uranium Geochemical assays up to 119 ppm • Holes cased for phase 2 down hole gamma logging.
Epsilon Managing Director Matt Gauci said there remained strong potential to delineate further uranium mineralisation using Yeelirrie as a model and the company will move to both auger drill the wider area and infill drill the discovery zone in the near future. “We are very encouraged by these initial drill results and pleased to have the exploration strategy we are using validated. The results are providing us with confidence as we move into the more intense second phase of exploration and define discrete targets with our follow up work.” Mr Gauci said. In Western Australia, calcrete hosted uranium deposits typically form when uranium-rich granite rocks are leached by groundwater and uranium is precipitated and cemented by calcium and magnesium carbonates in the form of calcrete deposits. The Ida Valley Uranium Project (Figure 1 and 2), consists of one exploration license (E29/582) covering
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