Ponton Project
The Ponton project lies 200km northeast of Kalgoorlie next to the Mulga Rock uranium deposits (54Mlb U3O8). The area is highly prospective for uranium within underlying Tertiary palaeochannels.
Manhattan has reported a maiden Inferred Resource Estimate for the Double 8 uranium deposit at Ponton in Western Australia of 16Mt at 310ppm uranium oxide (U3O8) containing 10.9Mlb U3O8 at a 200ppm cutoff. In addition, the Exploration Results reported identified further Mineralisation Potential at Double 8 of between 6.6 and 15.4Mlb of U3O8 at the 200ppm cutoff.
The Double 8 uranium deposit of 10.9Mlb U3O8 is a significant resource and already places the deposit as the twenty-second largest reported uranium resource in Australia and the ninth largest in Western Australia.
The mineralisation lies over 9km of strike with an average width of 500m. At a depth of 50 to 70m, the deposit is shallow and should be amenable to in-situ leach (ISL) recovery, the lowest environmental impact uranium mining method.
The reported resource and mineralisation potential, based on PNC's drilling in the 1980's are summarised in the accompanying table.
| DOUBLE 8 INFERRED RESOURCE ESTIMATES |
CUTOFF
GRADE
eU3O8 (ppm) |
TONNES
(Million) |
GRADE
eU3O8 (ppm) |
TONNES
U3O8 (t) |
POUNDS
U3O8 (Mlb) |
| 100 |
59 |
180 |
10,620 |
23.4 |
| 150 |
28 |
250 |
7,000 |
15.4 |
| 200 |
16 |
310 |
4,960 |
10.9 |
| 250 |
9 |
370 |
3,330 |
7.3 |
| 300 |
6 |
410 |
2,460 |
5.4 |
| 350 |
4 |
450 |
1,800 |
4.0 |
| 400 |
3 |
490 |
1,470 |
3.2 |
|
|
|
|
|
| DOUBLE 8 ADDITIONAL MINERALISATION POTENTIAL |
CUTOFF
GRADE
eU3O8 (ppm) |
TONNAGE
RANGE
(Million) |
GRADE
RANGE
eU3O8 (ppm) |
TONNAGE
RANGE
U3O8 (t) |
POUNDS
RANGE
U3O8 (Mlb) |
| 100 |
40 - 80 |
100 - 200 |
4,000 - 16,000 |
8.8 - 35.3 |
| 150 |
20 - 40 |
200 - 250 |
4,000 - 10,000 |
8.8 - 22.0 |
| 200 |
10 - 20 |
300 - 350 |
3,000 - 7,000 |
6.6 - 15.4 |
| 250 |
5 - 10 |
350 - 400 |
1,750 - 4,000 |
3.9 - 8.8 |
| 300 |
3 - 5 |
400 - 450 |
1,200 - 2,250 |
2.6 - 5.0 |
| 350 |
2 - 3 |
450 - 550 |
900 - 1,650 |
2.0 - 3.6 |
| 400 |
1 - 2 |
550 - 600 |
550 - 1,200 |
1.2 - 2.6 |
The fact that the uranium mineralisation at Double 8 remains open and is yet to be closed off by drilling along with the additional Mineralisation Potential reported of between 10 and 20 million tonnes with a grade range between 300 to 350ppm eU3O8 indicates that there is considerable exploration upside for the Double 8 deposit.
The Company considers that with further exploration, drilling and sampling at Double 8, and along the Ponton palaeochannel, the resource estimates will expand and the confidence levels of these estimates will improve and report to higher categories under the JORC (2004) Code.
Our priority is to obtain the grant of E28/1898 at Ponton and gain exploration access to the area within the Queen Victoria Spring Nature Reserve to enable recommencement of drill testing and evaluation of the uranium resources identified at Double 8.
COMPETENT PERSONS STATEMENT
The information in this WEBSITE that relates to the Technical Database, reported Exploration Results and Mineral Resources is based on information compiled by Mr Alan J Eggers, who is a Member of the AusIMM. Mr Eggers is professional geologist and a director of Manhattan Corporation Limited. Mr Eggers has sufficient experience which is relevant to the style of mineralisation and types of deposits being reported on in this WEBSITE and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Eggers consents to the inclusion in this WEBSITE of the information on the Technical Database, reported Exploration Results and Mineral Resources based on his information in the form and context in which it appears.