West Lake Eyre Uranium
This licence lies to the west of Lake Eyre in South Australia. It is prospective for both deeply buried Iron Ore Copper Gold (+Uranium) Deposits similar to Olympic Dam and Prominent Hill and shallower palaeo-channel deposits in the overlying Cretaceous sediments. There has been limited prior exploration over the area.
In early 2008 Metminco completed an additional gravity survey over the eastern portion of the licence area. This survey meshes with and extends the regional gravity data collected by the South Australian Government.
The regional gravity survey, along with three detailed traverses, revealed two prominent deep gravity features. The probable depths to these sources are 550 metres and 675 metres below surface.
Metminco’s initial plan is to drill two deep holes, RC pre collar with diamond tails, over the shallower target. Supplementary funding would be sought from the South Australian Government’s PACE program. Drilling in this area is technically difficult as the overlying sediments are part of the Great Artesian basin and high water pressures encountered can cause problems with the drilling equipment.
The Company also completed a scintillometer survey over two surficial uranium anomalies revealed during an analysis of regional radiometric data. The scintillometer survey found uranium levels up to 5 times background associated with a north south fault.
Metminco has recently applied for renewal of the licence over a reduced area of 350 square kilometres. The next phase of exploration planned is shallow drilling around the surficial uranium anomalies. As this is ground disturbing work, a site visit and clearance will be required by the local Aboriginal Representative group (Arrabunna Indigenous Land Use Agreement). A land use agreement with the Representative group was recently registered and exploration is planned to commence in late 2009, following site clearances.
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