Brisbane, May 30, 2008 AEST (ABN Newswire) - Bondi Mining Ltd (ASX: BOM) is pleased to announce the results from its 11 hole, 986 metre reverse circulation (RC) drill program at the Mount Hogan uranium project.
Located in northeast Queensland approximately 135 kilometres south of Mega Uranium's Maureen uranium deposit, the area of interest at the Mount Hogan project contains high grade uranium mineralisation in altered pyritic metasediments in contact with highly radioactive granite. Limited drilling of soil and radiometric anomalies by a previous explorer in the late 1970's produced best results of:
- 7 metres at 0.38% U3O8 in percussion drillhole 79 HH PDH-1, including 1 metre at 1.2% U3O8 starting at a depth downhole of 29 metres.
- 1 metre at 0.17% U3O8 in percussion drillhole 79 HH PDH-2, within a broader interval of 5 metres at 0.05% U3O8 starting at a depth of 37 metres
"We have confirmed and extended the zone of mineralisation at Mount Hogan, as well as intersecting significant uranium values in an area with no previous uranium drilling," said Dr Rick Valenta, Managing Director of Bondi Mining. "The zones we have intersected still have potential to expand and we are in the process of planning our follow-up exploration on the property."
Mount Hogan Drilling Program
At the Mount Hogan project, Bondi Mining completed an 11 hole, 986 metre reverse circulation drill program testing three separate targets with airborne and ground radiometric anomalism, surface rockchip sample values of up to 0.13% U3O8 and a best drill intersection of 7 metres at 0.38% U3O8. The aim of the program was to test for the plunge continuation of the existing high grade zone and to investigate the bulk tonnage potential for the two surface zones of uranium mineralisation within the Mount Hogan granite.
Drilling focused on two main areas - Horseshoe Hill and the Mount Hogan South. The Horseshoe Hill area had been drilled by a previous operator with a number of very encouraging results. The granite pluton in the Mount Hogan South area had not previously been drilled for uranium, though it showed strong uranium anomalism in a very similar geological setting to the Horseshoe Hill granite area. A recent high resolution airborne survey has highlighted the presence of strong targets in both areas.
Horseshoe Hill
At Horseshoe Hill, percussion drilling by a previous operator intersected a zone of high grade uranium mineralisation in chloritic and pyritic metasediments and silicified pyritic shale adjacent to the uranium-enriched Mount Hogan granite. The five RC holes drilled by Bondi Mining in this area demonstrated that the previously-drilled high grade zone continues at depth and shows a steep, slightly northward pitch. The zone remains open at depth.
Mount Hogan South
The Mount Hogan South area contains a previously untested target with strong airborne uranium anomalism associated with another NNW-trending zone of faulting and alteration very similar to the zone of known mineralisation in the granite pluton at Horseshoe Hill. Four holes were drilled into this zone and showed the existence of a broad zone of anomalous uranium of up to 16 metres width over a strike length of 200 metres.
Bondi Mining Ltd is a Brisbane-based exploration company with a focus on high-grade cycle-proof uranium targets with world class size potential. In addition, the company has a number of gold copper and nickel targets which have been drilled in 2007. The company's Australian uranium portfolio is made up of 20 granted tenements and 3 applications totalling 15,085km2 in three major uranium provinces in the Northern Territory and Queensland.
Contact
Rick Valenta, Managing Director
TEL: +61-7-3369-4000
Email: info@bondimining.com.au
Web: www.bondimining.com.au
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