Georgetown Uranium Project
Callabonna Uranium’s Queensland projects are centered around the highly prospective, Proterozoic aged Georgetown Inlier of northern Queensland. The Georgetown region contains numerous well known very high grade uranium deposits including the Maureen uranium deposit, the Ben Lomond deposit and the Trident and Lineament groups of deposits (all owned by Mega Uranium).
The Maureen Deposit is located some 23 kilometres west of Callabonna Uranium’s "Neptune" project and in July 2008 Mega announced a NI43-101 compliant resource for the Maureen deposit totalling some 6.33Mlbs U3O8. Mega’s website also quotes potential high grade resources at their nearby Trident Project (including Four Geo, Two Geo and Quartz Blow Deposits) and the Lineament Fault Zone. Deposits within these two projects have a very significant historical resource attributed to them at an average grade of 0.1% U3O8 . Mega's Trident project is situated immediately south of Callabonna Uranium’s "Neptune" Project on the same major structural zone which extends through the Neptune Project lease area. Uranium mineralisation within the region is largerly controlled by a NNE trending regional fault system.
Neptune EPM 18028 (Application)
The Neptune Project area covers the northerly extension of the Dagworth Fault Zone host to uranium mineralisation at Trident (Mega Uranium) some 2.9 kms to the south. Several deposits from the Trident have historical resource figures which along with other deposits at Lineament form part of an overall aggregate resource averaging a very attractive 0.1% U3O8.
The Neptune Project covers the northerly extension of the same fault zone with the same geology as in the Trident area. Callabonna Uranium’s lease area contains several known uranium prospects (Dagworth and Fiery Sector) associated with the Fault zone and the Paleaozoic/Proterozoic unconformity.
Callabonna Uranium considers the geological setting of this tenement to be analogous to that of the Trident area with potential for both Trident style structurally controlled breccia hosted uranium mineralisation.
Huonfels EPM 18027(Application)
The Huonfels Project area covers 18 linear kilometres of the same unconformity which is a major control of the mineralisation at Maureen. The geological setting is exactly the same as at the Maureen Uranium Deposit some 2.5 kilometres further north (Mega Uranium controlled).
The Huonfels Project is clearly highly prospective for discovery of a southerly extension to the Maureen Deposit along the same unconformity with the same geology. The fact that much of the license area is covered with aeolian sand means that airborne radiometric techniques relied on previously would have been ineffective here.
The target at Huonfels is a large uranium-molybdenum deposit similar to the Maureen deposit, in which uranium mineralisation occurs as fault and strata-bound zones immediately above the mapped unconformity.
Oak River Tenement EPM 17945 (Application)
The Oak River tenement lies approximately 15 km southwest of Einasleigh within the highly prospective Georgetown Inlier. The license area covers four historical uranium occurrences identified during the 1970’s by broad spaced radiometric surveying that were later followed up with field. Soil samples and rockchip assays along the entire structural zone were highly anomalous with rockchip results up to 4.36% U3O8. Subsequent drilling focussed on the southernmost area of anomalism where a total of 23 holes were drilled with several interesting results including 0.23m at 0.283%
Some 2.5 kms north from the focus of previous work 6 rock chip samples were taken and returned extremely anomalous results (between 0.03% and 0.5% U3O8), however two shallow drillholes failed to adequately test this area and there remains 2.5 km of potential strike between the 2 zones of drilling, that has not been tested. This 2.5 km zone between these 2 areas is poorly outcropping but has returned highly anomalous soil geochemistry. Additionally there is some 6 kilometres of this fault zone further north which remains untested.
Callabonna Uranium believes a detailed ground radiometrics over the structural corridor would provide a much more detailed picture of the surficial distribution of uranium The prospective reduced sediments and volcanic units which form the “trap rocks” for the mineralising fluids should be mapped in detail and where their position at depth cannot be deduced from surface mapping, geophysics (Electromagnetics) will be employed to map their subsurface depth and extent.
