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Eclipse Metals plans Devils Elbow exploration testing for uranium, gold and platinum group elements

Snapshot

The Eclipse exploration program will focus on the area around the Devil’s Elbow, Terrace and Ferricrete uranium prospects, concentrating on high priority areas defined by historical geochemical and radiometric anomalies.

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ASX:EPM
Market: ASX
Market Cap: $14.15 m
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Eclipse Metals Ltd (ASX:EPM) is planning an intensive field exploration program at its exploration licence 27584 covering the Devil’s Elbow uranium-gold-palladium prospect in the Northern Territory.

Exploration is set to take place once the NT wet season ends, focusing on the area around the Devil’s Elbow, Terrace and Ferricrete uranium prospects concentrating on high-priority areas defined by historical geochemical and radiometric anomalies.

With increasing interest and value in precious and platinum group metals, plus positive moves in the price and demand for uranium, Eclipse believes its ability to explore the Devil’s Elbow tenement is timely.

Geophysical data progressing

Filtering of all available geophysical data over the tenement and surrounds is progressing in an effort to better understand the geophysical, structural and geological context of high-grade uranium, gold and palladium assays.

Results to date are a substantial leap forward for the Devil’s Elbow prospects and have enabled Eclipse to define and rank 17 drill target zones based on integration of all geophysical products generated.

Strong similarities with Jabiluka

The Devil’s Elbow prospects have strong similarities with the Jabiluka uranium and gold mine, which was discovered in 1971 following-up a low order anomaly from a ground radiometric survey.

Jabiluka is 20 kilometres to the north of the Ranger uranium mine, about 75 kilometres to the west of Devil’s Elbow.

The uranium and gold mineralisation occurs in an altered member of the Cahill Formation, proximal to reverse faulting structures with similarities to the Devil’s Elbow prospect.

Ngalia Basin uranium prospects

Eclipse is seeking drill rigs to conduct initial reconnaissance drilling in EL24808 (Cusack’s Bore) and EL32080 (Ngalia North), in the northern part of Ngalia Basin, targeting potentially uranium-vanadium bearing paleochannels indicated from its 2019 geophysical gravity survey over EL24808.

Paleochannels from Cusack’s Bore appear to extend south into Ngalia North, which will be verified with further gravity or seismic surveys prior to drilling.

North and Northeast Ngalia Basin

The company is preparing a submission to the NT Department of Primary Industry and Resources and the Central Land Council for consent to grant ELA24623 (Eclipse) and ELA26487 (Yuendi).

Once submissions have been reviewed, the Central Land Council will consult with the Traditional Landowners to consider facilitating initial meetings with Eclipse Metals to commence negotiations.

ELA24623 on the north-eastern fringe of the Ngalia Basin is highly prospective for sandstone-type uranium mineralisation.

Base metals prospects

Historical exploration over ELA26487 (Yuendi), on the northern fringe of Ngalia Basin, has indicated anomalous base metals values in the Rock Hill Copper Field covered by this ELA which include abandoned mines as well as polymetallic veins.

Within this ELA are 10 copper prospects that remain relatively unexplored.

The copper deposits within the Mt Hardy Mineral Field (5.4 kilometres due east from the eastern boundary of ELA 26487) were discovered in 1935, with mineralisation reported in quartz reefs and pegmatite-aplite veins within the Lower Proterozoic schist.

Minerals recognised in the oxidised zone are malachite, azurite and chalcocite, with chalcopyrite predominant in the sulphide zone.

Upon granting of these two ELAs, planning will commence for comprehensive exploration programs to include geological mapping, sampling, geophysical surveys and ultimately drilling.

Mary Valley Manganese 

At the company's Mary Valley Manganese Project, south of Gympie in Queensland, a second diamond drilling program has tested for extensions of previously drilled high-grade manganese mineralisation along 160 metres of strike and down dip to 20 metres. 

Six diamond drill cored holes were completed for a total of 97.6 metres. 

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Eclipse Metals gearing up for drilling at Mary Valley manganese project

Eclipse Metals Ltd's (ASX:EPM) Carl Popal discusses plans to begin a stage-2 diamond drilling program next month at the Mary Valley Manganese Project in Queensland. He says the campaign's designed to extend high-grade mineralisation intersected during initial exploration drilling in 2018....

on 24/8/20

3 min read