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  • Mindax Limited Receives Assays For The Kellerberrin Uranium Project 0 comments
    Jun 30, 2013 7:49 PM

    Mindax Limited (ASX: MDX) has now received the one metre assays for the four metre composite samples containing elevated uranium, which were previously reported from the 2013 drill program at the company's Kellerberrin uranium project.

    The project is located 170 kilometres east of Perth and makes up the central portion of the Yilgarn-Avon Joint Venture group of tenements which was formed with Quasar Resources Pty Ltd (an affiliate of Heathgate Resources).

    A total of 51 one metre samples from 14 parent four metre composite samples were processed.

    Mindax said that more detailed analysis of previous drill results confirms the presence of modest levels of uranium within the drilled area of palaeochannel system.

    This suggests that uranium may have remained in solution and passed through the area to be deposited elsewhere in the palaeochannel system. Results were generally low grade with a best result of 1 metre at 63ppm uranium.

    Further interpretation of results and assessment of future work programs is continuing.

    Steve Ward, managing director and chief executive officer, commented: Our understanding of the uranium presence in the palaeochannel has improved markedly following this year's drill program.

    "Whilst, we have not found significantly elevated uranium levels in the Kellerberrin Project areas we have drilled this year, the results obtained will enable us to focus our future efforts."

    Mindax has around $4.6 million in cash at the end of March 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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