Brisbane, April 17, 2008 AEST (ABN Newswire) - Bondi Mining Ltd (ASX: BOM) is pleased to announce that drilling has now begun on the Murphy project in the Northern Territory.
The first phase of drilling on the project will comprise approximately 200 RAB holes for around 4000 metres, testing 10 different target areas which have been developed based on detailed magnetics and radiometrics, Hoistem airborne EM survey results, and Radon track etch anomalies. All the targets to be drilled are in the correct geological setting for unconformity uranium mineralisation of the type seen in the East Alligator region (eg Jabiluka - 360 million lbs at 0.45% U3O8) or of the type seen in the Westmoreland region (eg Westmoreland - 48 million lbs at 0.09% U3O8) in Queensland. The targets all lie under a thin veneer of recent cover and were therefore never prospected in the last uranium boom, despite the fact that they display all the correct geological ingredients for this style of mineralisation.
Drilling is to be carried out on targets which were developed on the basis of interpretation of geophysical datasets under shallow cover. The original targets were followed up by Alphatrack (radon track etch) sampling which produced anomalous results interpreted to be related to potential underlying uranium mineralisation. Radon track etch sampling has been previously shown to have successfully detected the Koongarra uranium deposit under 75 metres of cover.
Drilling will be targeting two main zones - the Wesmoreland Conglomerate immediately under the Siegal Volcanics (Westmoreland Style) and the reduced Murphy Metamorphic basement immediately under the base of the Westmoreland Conglomerate (East Alligator Style). Details of the individual targets and planned drilling are summarised below:
Target Style UC19 East Alligator 45 RAB holes testing favourable structural locations with strong Alphatrack response, developed where the Westmoreland unconformity lies under thin sand cover.UC6 Westmoreland 45 RAB holes testing favourable structural locations with strong Alphatrack response, including possible dyke-fault intersections similar to those developed at the Westmoreland depositUC15 East Alligator 25 RAB holes testing structural targets in zones of favourable NNW-NW fault intersections with abundant mafic dyke developmentUC8 Westmoreland 25 RAB holes testing an area with Alphatrack anomalies at the interpreted contact between the Siegal Volcanics and the underlying Westmoreland Sandstone (identical stratigraphic position to the Westmoreland deposit)UC7 Westmoreland 25 RAB holes testing Alphatrack anomalies associated with variably-oriented structures located in close proximity to the contact between the Siegal Volcanics and the Westmoreland SandstoneUC22 East Alligator 9 RAB holes testing northwest-trending Alphatrack anomalies associated with the interpreted contact between the Westmoreland Sandstone and the underlying Murphy metamorphics.UC16 East Alligator 9 RAB holes testing zones of Alphatrack anomalism associated with an inferred paleo-high in the Murphy metamorphic basementUC18 East Alligator 7 RAB holes testing zones of Alphatrack anomalism associated with northwest-trending structures in close proximity to the basement contact, intruded by northwest-trending mafic dykes.BM11 U/Base metal 5 RAB holes testing a NNW-trending dyke zone along the main strand of the Emu faultBM7 U/Base metal 5 RAB holes testing the intersection zone between a north-trending mafic dyke and a northwest-trending conductor within Murphy Metamorphic basement
It is expected that the first pass of drilling will take approximately 4 weeks, and a second pass of drilling is planned to be carried out in July-August once results from this drilling program have been received and interpreted.
"Our work to date has identified a number of very compelling targets in this highly prospective area," said Dr Rick Valenta, Managing Director of Bondi Mining. "This is the first step in a program which has the potential to define a new high grade uranium district in a very favourable jurisdiction."
The exploration data and results contained in this report are based on information reviewed by Dr Rick Valenta, a fellow of the Australian Institute of Mining and Metallurgy. He is Managing Director of the Company and has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Valenta has consented to the inclusion in this release of the matters based on his information in the form and context in which it appears.
Contact
Rick Valenta
Managing Director
Tel: +61-7-3369-4000
info@bondimining.com.au
www.bondimining.com.au
"Our work to date has identified a number of very compelling targets in this highly prospective area," said Dr Rick Valenta, Managing Director of Bondi Mining. "This is the first step in a program which has the potential to define a new high grade uranium district in a very favourable jurisdiction."
The exploration data and results contained in this report are based on information reviewed by Dr Rick Valenta, a fellow of the Australian Institute of Mining and Metallurgy. He is Managing Director of the Company and has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Valenta has consented to the inclusion in this release of the matters based on his information in the form and context in which it appears.
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