Gladiator Resources Limited

Drilling Update for Mkuju Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to announce that drilling at the Mkuju Project is progressing well. Highly mineralized intervals are observed in the core close to surface in 2 holes of the 4 completed. After the 5th hole the rig will commence drilling at the nearby Mtonya area to follow-up on the excellent historical intersections along the northwest side of the deposit which appears to be ‘open’. At the Likuyu North deposit, a 370 line-km ground magnetic survey is nearing completion – the data will guide the drill targeting aimed at identifying potential extensions or new zones.


  • Drilling is well underway, with over 400m drilled to date.
  • At SWC target highly mineralised intervals in 2 of the 4 holes completed to date.
  • The rig will move to the Mtonya target.
  • Ground magnetic survey for Likuyu North is nearing completion.
SWC Update

Downhole radiometric logging gives grades high grades in two holes with vertical intervals1:

  • SWDD001: 2.32m @ 0.30% eU3O8 from 0.3m depth.
  • SWDD002: 2.13m @ 0.33% eU3O8 from surface.

Holes SWDD003 and SWDD004 do not contain a significant mineralized interval. Work at hole SWD005 is in progress. Mineralisaton is within the upper 7 metres from surface, hosted in coarse sandstones typically with clay clasts (Figure 1) and the dip is gentle to horizontal. The distribution of the mineralisation is approximately indicated on Figure 2. The grade and thickness over this extent is expected to be variable – it is likely that the mineralisation has been affected by supergene processes leading to enrichment and movement of the uranium by groundwaters. It is interpreted that the mineralisation is either:

a) At the base of a layer that has been eroded except on topographic highs in which case holes SWDD003 and SWDD004 started ‘below’ this level.

b) Remobilised uranium from a primary layer lower in the stratigraphy, that has concentrated near surface; a feature observed at the nearby Mtonya deposit where in many cases the primary layers are below and lateral to the surface radiometric anomalies, typically within structurally down-thrown blocks.

Surface work is underway to firm up on the above, focusing on the ‘Bullseye’ and ‘East zone’. The drilling rig may be brought back to SWC to test targets arising

Mtonya Update

The drilling rig will move over to the Mtonya deposit 6km southwest of SWC. Here drilling will test the potential northwestward extension of the excellent historical intersections in diamond core holes drilled in 2011-213 by previous operator Uranium Resources plc (URA). These intersections include2:

  • 7.0m @ 549 ppm U3O8 in hole URAMT_241 from 49.3m depth
  • 8.5m @ 515 ppm U3O8 in hole URAMT_106 from 155.9m depth
  • 5.0m @ 341 ppm U3O8 in hole URAMT_110 from 126.2m depth
  • 2.9m @ 1172 ppm U3O8 in hole URAMT_087 from 171.3m depth
  • 8.0m @ 400 ppm U3O8 in hole URAMT_300 from 157.5m depth

Likuku North magnetic survey

At Likuyu North, the 370 line-km high resolution ground magnetic survey is nearing completion. It covers an area of approximately 9 by 1.7 kms. The deposit is interpreted to be within a fluvial sequence developed along the north (down-thrown) side of a fault bounding a graben structure which has an approximate NE-SW orientation.

It is anticipated that the magnetic data will guide the ‘on-strike’ targeting for drilling and may help identify possible secondary faults imparting control on the deposit formation. Targets identified will then be tested after the drilling at SWC and Mtonya is complete. The objective is to test the potential to expand the existing deposit (4.6 Mlbs U3O8, Table 3)3. Likuyu North is 25km north of SWC/Mtonya and the main access roads have been completed ready for drilling.


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.

GLA:AU
Gladiator Resources

Gladiator Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Gladiator Resources (ASX:GLA)

Gladiator Resources


Keep reading...Show less
GTI Energy

Rights Entitlement Offers Underwritten to $1.6M

GTI Energy Ltd (GTI or Company) is pleased to advise that existing shareholders will be offered the opportunity to participate in a non-renounceable pro-rata rights entitlement offer of one (1) new share for every five (5) existing Shares, held by those Shareholders registered at the relevant record date, at an issue price of $0.0045 per New Share to raise up to $2,294,952 (before costs), together with one (1) free attaching new option for every three (3) New Shares subscribed for and issued (Entitlement Issue Offer). Each new option will have an exercise price of $0.01 and entitle the holder to subscribe for one (1) new share before their expiry at 5:00 pm (WST), four (4) years from their date of issue (New Option).
Keep reading...Show less
GTI Energy

Entitlement Issue Prospectus

GTI Energy Ltd (GTI or Company) is pleased to share its Entitlement Offer Prospectus.
Keep reading...Show less
  Boss Energy

Quarterly Cashflow Report - June 2024

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) has released its Quarterly Cash Flow Report.


Keep reading...Show less
  Boss Energy

Production Ramp-Up Proceeding to Plan with Technology Proven at Commercial Scale

Honeymoon on track to meet FY25 production target of 850,000lbs of U308 as set out in Feasibility Study; Construction of second and third NIMCIX production columns on schedule

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to report on the June 2024 quarter, during which the Company achieved a number of milestones including first production at Honeymoon and at its 30 per cent-owned Alta Mesa Project in South Texas.
Keep reading...Show less
Gladiator Resources

Gladiator Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×