Beetaloo Uranium Project
The Beetaloo uranium project is held by Callabonna’s fully owned subsidiary, Beetaloo Uranium Pty Ltd. The Beetaloo project comprises ELs 25956, 25957, and 25958 for a total area of 4,128km². The project is located 180km south east of Katherine in the Beetaloo Basin of the Northern Territory. Callabonna will apply an innovative blend of oil and minerals exploration technology to target sandstone hosted uranium mineralisation associated with oil and gas fields. While uranium has yet to be explored in the area, previous oil exploration has found elevated uranium assays, gamma counts, and anomalous radioactivity in reservoir sands. In the Beetaloo Basin several reservoir sands overlie oil and gas source rocks and the intervening strata is cut by well-documented structures. Callabonna believes there is a potential for uranium mobilised in oxidised groundwater in reservoir sands of the Jamison Sandstone to become fixed by mixing with fluids reduced by oil and gas from the underlying Velkerri Formation that have leaked upwards through fault structures. Similar occurrences have been found in the Texas Gulf uranium deposits of North America.
The project is strategically located over a substantial portion of the overlapping structural margin of the Beetaloo and McArthur Basins. Structural arches and faults that naturally surround the Beetaloo Basin can provide the necessary conduit for upwards leakage of organic rich oil and gas. Callabonna’s exploration program will involve further sampling of existing drilling in the reservoir sands, modeling of existing gravity data, and if appropriate, seismic surveying in order to provide targets for a systematic drilling program.
