Encouragingly, a review of historical and recent REE-targeted drilling at Paddys Well has unveiled significant uranium intersections. A small portion of the eastern margins of the Project were previously explored for uranium and several occurrences were found within and proximal to Voltaic's 'Neo' prospect which was previously identified as a high priority REE target2 . Voltaic also recently undertook an extensive magnetic and radiometric survey which has identified multiple radiometric anomalies across Paddys Well (Fig. 2 & 6) and the Company is actively planning follow-up systematic reconnaissance, aligning with its previously outlined rare earth element (REE)-carbonatite targets3
Voltaic Chief Executive Officer
'Voltaic has already identified a substantial clay-hosted REE system at the Neo prospect, and the latest uranium findings further underscore the project's considerable potential to host economic mineralisation, whilst noting that the Company's recent drilling was targeting REEs, not uranium. 'Multiple explorers have identified significant uranium anomalies within our current tenure, revealing both secondary and primary (uraninite) mineralisation with a chemical signature resembling Jabiluka. Despite two drill campaigns yielding well-mineralised intercepts and numerous geophysical anomalies, only three trends out of several dozen underwent testing, primarily utilising shallow drillholes. 'This is the crux of the opportunity at hand: more than 90% of the current tenement area remains unexplored systematically for uranium or any other metals. We eagerly anticipate commencing the next phase of on-ground exploration in the upcoming weeks'
DISCUSSION
Historical drilling at the 'Area 16' prospect, and a recent campaign by VSR targeting shallow REE mineralisation at 'Neo' to the west, returned several mineralised uranium intercepts with each occurrence overlying distinctive radiometric anomalies (Fig. 2). Several additional peaks are also apparent from this data and warrant follow-up. The rocks within Area-16 consist of a sequence of microgneisses, amphibolites and chlorite schist abutting onto the Archaean gneisses by a fault or mylonite zone. These metamorphosed sediments are overlain by a sequence of carbonates, graphite schist and calcsilicate rocks.
Next Steps at Paddys Well: Follow-up on-ground systematic reconnaissance is planned across the previously identified radiometric anomalies4 focusing both on REE and uranium prospectivity. Previously acquired radiometric data has identified several trends that overlay interpreted & mapped structures which provides a robust basis for U-focused targeting. Surface spectrometer surveys and structural and lithological mapping will confirm and delineate further potential mineralised zones within the extensive corridor of regional and cross cutting shear zones. Planning for follow-up shallow drilling at Neo is in progress to delineate U mineralisation along strike of the identified anomalous zones and will help guide deeper drilling for subsequent campaigns.
Contact:
Chief Executive Officer
Tel: +61 8 6245 9821
Email: michael.walshe@voltaicresources.com
Competent Person Statement
The information in this announcement related to Exploration Results is based on and fairly represents information compiled by Mr
Forward-Looking Statements
This announcement may contain forward-looking statements involving several risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update statements if these beliefs, opinions, and estimates should change or to reflect other future development. Furthermore, this announcement contains forward-looking statements which may be identified by words such as 'prospective', 'potential', 'believes', 'estimates', 'expects', 'intends', 'may', 'will', 'would', 'could', or 'should' and other similar words that involve risks and uncertainties. These statements are based on several assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements. The Company cannot and does not give assurances that the results, performance, or achievements expressed or implied in the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
About
(C) 2024 Electronic News Publishing, source