Mindax (ASX: MDX) has successfully completed an over 7,000 metre drilling program targeting downstream extensions to the 3.2 million pound Resource at the Mukinbudin Project in the Yilgarn-Avon region of Western Australia.
A total of 87 holes for 7,603 metres were drilled, with the work focused on scout drilling at surrounding tenements downstream from previous uranium finds.
Preliminary geological interpretation of the drilling chips has confirmed that several drill holes have intersected similar permeable sediments capable of hosting uranium as seen in Jindarra and Yandegin where the current resource is located.
Dr Steve Ward, managing director and chief executive officer, commented: "We have made excellent progress with our field drilling.
"The initial visual signs at Mukinbudin are encouraging. We now look forward to assessing the results when assays are completed in the coming weeks."
The Mukinbudin Project, which is being funded entirely by Mindax, is part of the Yilgarn-Avon Joint Venture.
A maiden Inferred Resource of 3.2 million pounds at 0.02% U3O8 has been defined at two prospects, Jindarra and Yandegin, within the project.
Both the Jindarra and Yandegin Prospects have the potential to increase the Resource as the mineralisation has not been closed off.
Mindax has outlined an exploration target for Mukinbudin of 10 to 25 million pounds at between 0.05% and 0.15% U3O8.
Additional work at Mukinbudin includes planning and budgeting for an infill drilling program to be conducted at the Yandegin and Jindarra prospects.
This drill program is scheduled to be undertaken later in 2013.
The Yilgarn-Avon Project is a 77/23 joint venture between Mindax subsidiary Mindax Energy and partner Quasar Resources, an affiliate of Heathgate Resources - the owner/operator of the Beverley uranium mine in South Australia.
Together the joint venture includes the Mukinbudin, Kellerberrin and Quairading Projects, which together span 1,485 square kilometres.
The program at Mukinbudin follows the successful completion of initial scout drilling, comprising a total of 39 holes for 1,885 metres, at Kellerberrin.
Mindax had around A$4.6 million in cash at the end of March 2013.
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