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Last updated 25/05/2018
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Projects Overview

Tetra Tech delivers positive desktop scoping study for the Ponton uranium project

Introduction

Manhattan Corporation Limited’s (“Manhattan”) flagship Ponton uranium project is located approximately 200km northeast of Kalgoorlie on the edge of the Great Victoria Desert in WA. The Company has 100% control of around 460km2 of exploration tenements underlain by Tertiary palaeochannels within the Gunbarrel Basin. These palaeochannels are known to host a number of uranium deposits and drilled uranium prospects (Figures 1 & 2).

The Company is drill testing and developing palaeochannel sand hosted uranium mineralisation amenable to in-situ metal recovery (“ISR”).

Figure 1:  Manhattan's Ponton Uranium Project

On 23 January 2017 Manhattan reported an upgraded JORC 2012 Inferred Resource for the Double 8 uranium deposit at Ponton in WA of 26 million tonnes ("Mt"), for 17.2 million pounds (“Mlb”) grading 300ppm uranium oxide (“U3O8”) at a 200ppm cutoff.

The Inferred Resource estimate reported for the Ponton uranium project is:

  • Double 8 uranium deposit of 17.2Mlb U3O8 at 200ppm cutoff.

Exploration Results at Ponton, reported on 7 February 2014, have also identified four wide spaced drilled Exploration Targets with tonnage ranges of 4 to 45 million tonnes (“Mt”), grade ranges of 250 to 450ppm U3O8 totalling 33 to 67Mlb U3O8 at the 200ppm U3O8 cutoff. In accordance with clause 17 of the JORC Code 2012, the potential quantity and grade reported as Exploration Targets in this report must be considered conceptual in nature as there has been insufficient exploration and drilling to define a Mineral Resource and it is uncertain if further exploration and drilling will result in the determination of a Mineral Resource.

The four Exploration Targets reported for the Ponton project are:

  • Double 8 of between 2.5 and 5.5Mlb U3O8;  
  • Stallion South of between 8 and 16Mlb U3O8
  • Highway South of between 8 and 16Mlb U3O8; and
  • Ponton of between 15 and 30Mlb U3O8  

The Double 8 Inferred Resource estimate and the Double 8, Stallion South, Highway South and Ponton Exploration Targets reported here were prepared by the Company’s independent resource consultants H&S Consultants.

The Double 8 uranium deposit and the Double 8, Stallion South, Highway South and Ponton Exploration Targets at are all located on granted exploration licence, E28/1898, located mostly within the Queen Victoria Spring Nature Reserve (“QVSNR”) (Figures 2 & 3).

Figure 2:  Manhattan's Ponton Tenements

 

The Mineral Resource estimate reported in January 2017, and the four Exploration Targets previously reported in 2014, are based on actual exploration results including Manhattan’s aircore and sonic drilling of over 788 holes for 55,553 metres of drilling along the palaeochannels immediately to the north of QVSNR from 2009 to 2016 and over 70km of conductive palaeochannels defined by the Company’s airborne EM and magnetic surveys within QVSNR (Figure 3) and uranium mineralised sands discovered in previous drilling of 114 holes and 6,900 metres of drilling and down hole gamma logging by PNC Exploration (“PNC”) and Uranerz Limited (“Uranerz”) in the area in the 1980's.

Figure 3: Double 8 Inferred Resource (IR)                                                                                                  Double 8, Stallion South, Highway South and Ponton Exploration Targets (ET)

Whilst a proposal has been developed to excise granted E28/1898 (that equates to 6% or 160km2 of the 2,700km2 QVSNR) from the QVSNR by a Reserves Amendment Bill in the WA parliament this proposal is now on hold. The WA State Labor government's policies ofManhattan is now seeking exploration access anot to approve any new uranium mines, or permit mineral exploration in A Class reserves, suggests there is little likelihood of progressing the exploration and development of the Ponton uranium project over the next four year term of the present WA government.

COMPETENT PERSON’S STATEMENT

The information in this report that relates to reported Exploration Results or Mineral Resources is based on information compiled by Mr Alan J Eggers, who is a Corporate Member of the Australasian Institute of Mining and Metallurgy (“AusIMM”). Alan Eggers is a professional geologist and an executive director of Manhattan Corporation Limited. Mr Eggers has sufficient experience that is relevant to the style of mineralisation and type of mineral deposits being reported on in this report and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves “JORC Code 2012”. Mr Eggers consents to the inclusion in this report of the information on the Exploration Results or Mineral Resources based on his information in the form and context in which it appears.

































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PRESENTATIONS

14/12/2012 - Mines & Money London 4-5 December 2012
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24/07/2012 - Australian Uranium Conference 19 July 2012
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26/03/2012 - Presentation - Mines and Money Hong Kong
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31/10/2011 - Mining 2011 Brisbane - 26 October 2011
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2/08/2011 - Australian Uranium Conference 20 July 2011
more...