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Gladiator Resources Unveils Uranium Mineralisation in First Trench at SWC Project

29 September 2023 11:10
Gladiator Resources Unveils Uranium Mineralisation in First Trench at SWC Project

Gladiator Resources Ltd (ASX: GLA) has announced the commencement of its exploration program at the SWC Target, a crucial component of its extensive 724km2 Mkuju Uranium Project, with the initial trenching phase already yielding exciting results, including scintillometer readings peaking at an 9,999 counts per second (cps).

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Fig 1: SWC target area and airborne radiometric (white is highest radiometric intensity) data and auger drill holes

The SWC Trenching Program

The Company has launched an ambitious exploration program at the SWC Target, with the completion of the first trench being a noteworthy achievement.

This trench extends over 30 metres and has yielded scintillometer readings exceeding 1,000 cps, with some areas reaching the maximum limit of 9,999 cps.

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Figure 2: GLA’s Mkuju Project area showing the SWC target

These readings suggest a high degree of mineralisation present in the area, primarily within the weathered sandstone (saprolite), visibly displaying secondary uranium deposits.

Importantly, this first trench is positioned at the same location as the 2008 auger hole MRSA12, which is known for its remarkable uranium content.

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Fig 3: New trench wall and scintillometer with >9,999 cps

A Rich Geological Setting

The SWC Target occupies a prominent position within Prospecting Lease 12354, offering significant potential for uranium exploration and development.

Situated at the terminus of a 12-kilometre-long NE-SW oriented radiometric anomaly trend known as the Mtonya-SWC trend, SWC stands out as the most intense radiometric anomaly along this trend.

Auger drillholes from 2008, conducted by Mantra Resources, recorded substantial uranium concentrations, with some highlights including:

  • MRSA04: 5 metres at 700 ppm U3O8 from 7 metres, including 2 meters at 1,300 ppm.
  • MRSA06: 7 metres at 440 ppm U3O8 from the surface, including 2 metres at 675 ppm.
  • MRSA12: 8 metres at 1,273 ppm U3O8 from the surface, including 2 metres at 3,825 ppm.
  • MRSA07: 5 metres at 1,200 ppm U3O8 from 2 meters, including 2 metres at 2,705 ppm.
  • MRSA13: 7 metres at 494 ppm U3O8 from 3 meters, including 3 metres at 803 ppm.

These results highlight the significant uranium resource potential at the SWC Target area, with the limited follow-up exploration work since the promising auger drill results in 2008 creating an opportunity for further investigation.

Proximity to the “Nyota” Deposit

The SWC Target’s proximity to the world-class “Nyota” deposit, owned by Mantra/Uranium One, adds another layer of significance to the Project.

With its Measured and Indicated Mineral Resource Estimate (MRE) of 187 million metric tonnes (Mt) at 306 ppm U3O8, housing 124.6 million pounds of U3O8, the “Nyota” deposit showcases the potential for SWC to contain significant uranium resources within a comparable geological context.

Future Prospects

The ongoing trenching program at SWC represents the first exploration effort in the area since 2012.

Following the completion of this program and a ground radiometric survey covering approximately 120 line kilometres, drilling is planned to commence.

The data from the radiometric survey will inform the drilling program, which aims to investigate both the depth and lateral extent of known and potential new mineralisation zones.

GLA’s Australian Stock Exchange-listed share price has risen 15.79% today and is currently trading at 2.2c (11:00 am UTC+ 8 hours).

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