Consultants for Southern Cross Resources (SXR-T) have calculated a revised resource figure for the Goulds Dam uranium deposit in eastern South Australia, smaller but at a higher grade.
The new resource is an indicated 1.7 million tonnes grading 0.12% U3O8, down from a previous 5.6 million tonnes at 0.045% U3O8 estimated in 2001. The difference between the two is that the new resource excludes both lower-grade material and zones of very thin mineralization.
Neither resource was based on direct sampling of drill cores. The new resource uses grades measured by prompt-fission neutron activation in the drill holes. Grades should be more accurate than those in the earlier resource, which was based on grades from gamma-ray spectrometry.
Southern Cross’s Honeymoon property, which includes Goulds Dam, is a 1,900-sq.-km property about 400 km northeast of Adelaide and about 150 km northwest of Broken Hill. The company is exploring two paleodrainage channels on the property for uranium mineralization.
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