Drilling Commences at Mkuju Uranium Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is excited to announce that diamond core drilling commenced on 10 June 2024, at our 100% owned Mkuju Uranium Project in southern Tanzania.

• Drilling has commenced at the SWC target where 2023 surface trench results gave vertical intervals including peak intervals of 2.55m @ 2017ppm U₃O₈, 0.75m @ 7139ppm U₃O₈, 2.35 @ 1636ppm U₃O₈ and 1.4m @ 3945ppm U₃O₈¹.
  
• The program is also planned to test possible extensions to the Mtonya and Likuyu North uranium deposits with the aim of demonstrating opportunity to expand these deposits.
• On-site gamma-ray logging equipment will be used to identify potential mineralised zones and establish their relative intensity.

Figure 1 provides an updated indicative timeline for the exploration program. Drilling commenced early June as planned, starting at the SWC target where 2023 trenches intersected up to 7139ppm U₃O₈. After SWC the rig will move over to Mtonya and Likuyu North (Figure 2) where drilling will test potential extensions and new zones at these existing uranium deposits. The final stage of the drilling will be follow-up on the most promising areas. Further details of the program are provided in GLA’s announcement dated 10th May 2024 and those of Q4 2023.

Figure 1. An indicative timeline for the drilling program and other works.*If results are supportive

Downhole gamma-ray logging

The Company has purchased downhole gamma-ray logging equipment to provide rapid guidance of the depth of mineralization that may be encountered, and the relative intensity of mineralized intervals, though grade data will not be reported until later once the results of laboratory analyses are received, expected late July onwards.

Ground magnetic survey at Likuyu North

Gladiator has engaged a geophysical contractor to carry out a 375 line-km high resolution ground magnetic survey over a block including the Likuyu North deposit. Surveying began on early in June and be completed with processing early in July. The deposit is broadly controlled by a large structure adjacent to which the Nyota deposit (20 km to the north) is also located. Nyota has a Measured and Indicated MRE of 187 Mt at 306ppm U₃O₈ containing 124.6 Mlbs U₃O₈. The magnetic data is intended to improve on the current interpretation of primary and secondary structures and other features that may (directly or indirectly) control the uranium mineralisation. This information may then be used to optimise the drilling plan at Likuyu North.

Click here for the full ASX Release

This article includes content from Gladiator Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.