Ponton
Interest: Manhattan 100%
Operator: Manhattan Corporation Limited
Ponton is located along the palaeochannel to the southeast of Double 8. This prospect is within licence application E28/1898 within the QVSNR.
At Ponton wide spaced reconnaissance drilling (generally on 4km centres) by PNC in the early 1980’s intersected anomalous uranium mineralisation, with similar grades to those reported by Manhattan at Double 8. The drilled uranium mineralisation at Ponton is also hosted in palaeochannels within reduced carbonaceous sands and weathered granitic sands in a confined aquifer overlying crystalline granite and Patterson Group shale basement.
PONTON MINERALISATION POTENTIAL
Based on PNC’s drilling combined with Manhattan’s detailed airborne EM and magnetic survey data, Exploration Results reported by Manhattan has identified uranium Mineralisation Potential at 200ppm U3O8 cutoff of between 15 to 30Mlb of contained U3O8.
PONTON PROJECT MINERALISATION POTENTIAL
|
PROSPECT & CUTOFF
GRADE
U3O8 (ppm) |
TONNAGE RANGE
(Million) |
GRADE RANGE
U3O8 (ppm) |
TONNAGE RANGE
U3O8 (t) |
POUNDS RANGE (Million)
U3O8 (Mlb) |
DOUBLE 8 200
|
4 - 8
|
250 - 450
|
1,100 - 2,500
|
2.5 - 5.5
|
STALLION SOUTH 200
|
12 - 24
|
250 - 350
|
3,600 - 7,300
|
8 - 16
|
HIGHWAY SOUTH 200
|
12 - 24
|
250 - 350
|
3,600 - 7,300
|
8 - 16
|
PONTON 200
|
23 - 45
|
250 - 350
|
6,800 - 13,600
|
15 - 30
|
Total Range
|
50 - 100
|
|
15,000 - 31,000
|
33 - 67
|
In accordance with clause 18 of the JORC Code (2004), tonnage and grade ranges reported as Mineralisation Potential 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 reportable resource.
On obtaining the required Ministerial consent and exploration access to the QVSNR, further resource definition drilling will commence at the Ponton prospect.