Piche Assets Restricted (ASX: PR2) (“Piche” or the “Firm”), holds an intensive tenement portfolio in Australia and Argentina with the main target being uranium and gold. In Western Australia, the Firm has commenced drilling on its Proterozoic unconformity type uranium challenge, while in Argentina, area programmes are nicely underway on the Sierra Cuadrada sandstone hosted uranium challenge and the Cerro Chacon low sulphidation epithermal gold challenge (Determine 1).
Key Highlights
- Reverse Circulation drilling commenced on the Ashburton Proterozoic unconformity uranium challenge in Western Australia. 7 drill holes had been accomplished within the September Quarter for a complete advance of 1028m.
- Equal U3O8 concentrations from this part of Ashburton reverse circulation drilling have been calculated from downhole gamma surveys, and embody:
- ARC001 6.98m @ 1,617 ppm eU3O8 from 101.84 meters
- ARC002 4.36m @ 2,205 ppm eU3O8 from 109.89 meters
- ARC003 3.96m @ 1,516 ppm eU3O8 from 86.89 meters
- ARC004 6.02m @ 801 ppm eU3O8 from 83.55 meters
- ARC006 3.45m @ 5,129 ppm eU3O8 from 137.62 meters incl 0.34m @ 16,050 ppm eU3O8 from 139.11 meters
- ARC007 1.30m @ 503ppm eU3O8 from 123.37 meters
- Drilling on the Ashburton Venture is ongoing with RC and Diamond drilling through the December Quarter
- Two geophysical surveys (IP and magnetics) have been accomplished at Cerro Chacon in Argentina and the Firm is awaiting the ultimate interpretation.
- Auger drilling at Sierra Cuadrada highlights intensive areas of close to floor uranium mineralisation: the biggest being 6km lengthy and 3km broad and stays open.
- Mineralisation varies in thickness from 0.5m to 4m, with a mean thickness 1.5m.
- A number of areas are being evaluated to figuring out precedence areas for observe up trenching, mapping and willpower.
- A further 39 tenement functions for uranium exploration have been lodged in Argentina totalling 1785km2. Tenements are situated within the provinces of Rio Negro and Chubut. Tenements are potential for sandstone hosted uranium mineralisation and embody each exhausting rock and in-situ restoration targets.
- The Firm has established an skilled in nation crew with the appointment of nation supervisor, challenge managers and geologists for each gold and uranium.
Determine 1: Locality maps highlighting Piche’s Australian Tasks in Western Australia and its Argentinean
Australia – Uranium – Ashburton Venture
A reverse circulation drilling programme commenced on the Ashburton uranium challenge through the September Quarter. A complete of seven drill holes had been accomplished through the quarter for a complete advance of 1028m. The reverse circulation drilling is ongoing, and a diamond drilling programme may even start early within the December Quarter.
The September Quarter drilling programme was undertaken at, and alongside strike of the Angelo A prospect the place no exploration actions have been carried out within the final 40 years. The drilling programme was deliberate to substantiate the outcomes from earlier exploration by drilling a number of twin holes, to check a revised mannequin for the management of the uranium mineralisation and probe for extensions to the mineralisation recognized between 1973 and 1984.
Outcomes from the primary seven reverse circulation drill holes accomplished have been obtained and 6 of these have returned vital excessive grade uranium mineralisation.
Drilling is focusing on Proterozoic unconformity type uranium mineralisation, much like that seen in two of essentially the most vital uranium jurisdictions on this planet: the Pine Creek Geosyncline in Australia and the Athabasca Basin in Canada.
Drilling was preceded by an in depth heritage clearance survey.
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