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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	CXU
Latest Price:	0.15 (-3.33% )
52-week High:	0.37
52-week Low:	0.09
Market Cap:	13.96M

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Cauldron Energy

Cauldron Energy (ASX: CXU) is the product of the merger between Scimitar Resouces Limited and Jackson Minerals Limited - two Australian exploration juniors with highly complementary exploration profiles. The result is a larger, more progressive resource company with an increased global presence and asset base, well positioned to take advantage of the financial markets in Australia, Asia and North America. The Company controls an impressive suite of uranium projects that are diversified in terms of stage of development and location.

Cauldron Energy to commence drilling across uranium assets in Australia and Argentina

Thursday, March 11, 2010

Australian energy company Cauldron Energy (ASX: CXU) will soon commence substantial drilling programs, totaling 13,000m, across its advanced and regional uranium assets in Australia and Argentina.

The significant exploration program will be fully funded by the monies received from the recently completed capital raising (see ASX announcement dated 10 November 2009).

The Western Australian projects to undergo sustained exploration in the first half of 2010 are the 4,000m air-core program at Yanrey due to commence in May and the 1,500m RC drilling program at Beadell Project, targeting large EM anomalies up to 2.2km, to start in April 2010.

The Yanrey Project work is aimed at identifying additional resources, where previous drilling has outlined and inferred resource of 4.8 million pounds ofeU3O8. The Company completed its fourth airborne EM program in late 2009 and has identified further palaeochannel drill target areas that remain untested.

The Beadell Project in north-west Western Australia has two large and distinct EM anomalies. The largest is 2.2 kilometers long and extends to 200m depth, and the second smaller target is 500m long.

These anomalies are located in the Rudall Complex, which hosts large base metal deposits, namely the Telfer gold mine and the Kintyre uranium deposit located 70 km to the north-west.

In South Australia the Company plans to continue its exploration activities at the Marree JV, which is being progressed with a Korean Syndicate. Drilling programs through 2008 and 2009 targeted uranium mineralisation similar to that found at the Beverly mine, located 50km to the southwest.

Previous drilling at Marree has indicated there are significant areas of reduced and oxidized sandstone with uranium mineralisation up to 245 ppm eU3O8. The Company has plans for a further 6,000m of infill drilling, plus it will also advance exploration on a number of additional regional targets yet to be drilled.

In Argentina, inaugural exploration drilling is due to commence, with 1,500m of RC drilling planned for the Las Marias Project in San Juan over the coming months. The Company recently received environmental approval to commence uranium exploration; field studies including mapping and sampling of outcropping uranium mineralisation have already been commenced.

The Company is also conducting first pass exploration for blind uranium targets using radon cups.

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