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Geology & Resources

The Manyingee and Carley Bore deposits are hosted in Lower Cretaceous sediments of the Northern Carnarvon Basin. These sediments are a sequence of fluviatile, deltaic and near-shore facies sediments that were deposited along palaeo drainages which are incised into older stratigraphic units. The sediments are 50-100m thick but thicknesses up to 200m are found in places.

The Birdong Sandstone hosts the majority of the uranium mineralisation and is capped by the Muderong Shale which effectively hydrogeologically confines the Birdrong Sandstone aquifer. There is no surface expression of the mineralisation and the deposit was discovered by drilling a conceptual exploration target.

Mineralisation is considered to be typical of sandstone-hosted roll-front uranium deposits. The mineralisation occurs between 50 and 150m below the surface predominantly within the Birdrong Sandstone. Roll front geometry at Manyingee has been modelled in five sedimentary sequences defined by drilling chip logging and geophysical wireline logging. Discrimination between oxidized and reduced facies is clear due to the visible iron hydroxides in oxidized facies and pyrite in reduced facies. Mapping the interface between oxidized and reduced facies is an essential tool for mineralisation targeting and modelling.

Between 1973 and 1984, approximately 400 holes were drilled by the previous owners to establish the extent and continuity of the sediment-hosted uranium mineralisation. In 2012, Paladin drilled 96 holes for 9,026m of Rotary Mud and 242m of PQ core. The drilling resulted in a revised geological model and, on 14 January 2014, Paladin announced an updated Mineral Resource for the Manyingee Project. The Mineral Resource estimate conforms to the JORC(2012) Code
 

Mineral Resource Estimate (250ppm U3O8 and 0.2m cut-off)

    Indicated Resources Indicated Resources Total
Deposit Cut-off
ppm U3O8

Mt

Grade
ppm

Mlb

Mt Grade
ppm

Mlb

Mt

Grade
ppm

Mlb

Manyingee 250 8.40 850 15.7 5.41 850 10.17 13.81 850 25.9
Carley Bore 150 5.4 420 5.0 17.4 280 10.6 22.80 310 15.6
Total - 13.8 682 20.7 22.8 413 20.8 36.6 510 41.5

(Figures may not add due to rounding)

Latest prices

ASX A$ 0.18

Latest Prices

TradeTech U3O8 spot US$29.00/lb
TradeTech U3O8 long term US$31.00/lb

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