1st Quarter Activities and Appendix 5B

HIGHLIGHTS

• Completion of drilling at the Mkuju Project - 20 diamond core holes for 2800 m of drilling, testing the SWC and Mtonya targets, and testing potential extensions to the Likuyu North deposit.
• At SWC, high-grade uranium from surface including:
  • 3.8m @ 2,458ppm eU₃O₈ from surface,
  • 2.4m @ 3,528ppm eU₃O₈ from surface,
  • 1.8m @ 3,089ppm eU₃O₈ from surface and 1.2m @ 988ppm eU₃O₈ from 5.9m depth
• At Mtonya, best interval of 2.3m @ 372ppm eU₃O₈ from 6.16m depth.
• At Likuyu North, possible moderate extension to the deposit indicated by visual mineralisation in LNDD015, now awaiting assays; and
• LNDD020 drilled central to the Likuyu North deposit to provide information for an initial assessment of In-Situ Recovery (ISR); intersected 6 mineralised intervals including:
  • 2.5 metres with an average grade of 438 ppm eU₃O₈ from 17.1m depth.
  • 7.1 metres with an average grade of 1,963 ppm eU₃O₈ from 63.1m depth.

MKUJU URANIUM PROJECT - TANZANIA

Table 1 summarises the work completed during the quarter at the Mkuju Project.

Table 1. Summary of the work at each target

Figure 1: The Mkuju Project area over airborne radiometric data with important deposits and targets labelled.

SWC TARGET EXPLORATION

During May 2024 a camp was constructed and a drilling and exploration crew was mobilized. The holes drilled at SWC are shown on Figure 2. Table 2 provides the results of the SWC and Mtonya drilling. The drilling at SWC was to follow-up on the high-grade intervals achieved from the trenches reported in the Company announcement dated 9th January 2024.

Figure 2. Map of the SWC and Mtonya targets showing historic and Gladiators drilling

All holes were vertical, drilling was by diamond core and the deepest was 188.7 metres. The results were reported in announcements dated 24th June and 16th August 2024. Selected results are provided below:

• SWDD001: 3.8m @ 2,458ppm eU₃O₈ from surface.
• SWDD002: 2.4m @ 3,528ppm eU₃O₈ from surface.
• SWDD005: 1.8m @ 3,089ppm eU₃O₈ from surface and 1.2m @ 988ppm eU₃O₈ from 5.9m depth
• SWDD006: 5.3m @ 143ppm eU₃O₈ from 3.0m depth

The trench and high-grade drilling intersections are interpreted to be the remains of a layer that is preserved on topographic highs within a relatively downthrown block, as illustrated in Figure 3, which represents a cross-sectional interpretation through SWC. Where the layer is at or very near surface as in SWDD001 and SWDD002, enrichment by supergene processes may have occurred whereas where deeper and unaffected by the surficial enrichment, as in SWDD006, grades are lower. No significant mineralisaton was intersected deeper in the holes drilled at SWC.

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.