Perth, Feb 27, 2009 AEST (ABN Newswire) - Magnetic Resources (ASX:MAU) A follow-up survey has confirmed a strong uranium anomaly at the Boydells prospect situated 50km northwest of Esperance in WA. The Boydells tenement covers a pronounced and isolated radiometric anomaly some 400m in diameter evident from a government airborne survey. Magnetic Resources has earned an 80% interest in the tenement with rights to earn up to a 100% interest.
The ground spectrometer survey identified a small area (approximately 100m x 50m) with uranium equivalent values up 840ppm (or 990ppm U3O8 equivalent ) coincident with the airborne radiometric anomaly. The spectrometer survey measures multiple radiation wavelength channels and calculates equivalent contents of uranium, thorium and potassium. The area of the anomaly is limited by surficial cover and appears to be associated with a ferruginous sandstone unit exposed in a clay pan. The surface cover may be obscuring the full extent of the anomaly.
It is possible that some or all of the anomalous response is derived from uranium decay products caused by uranium disequilibrium. Rock and soil samples have been taken from the anomaly area and are currently being analysed for uranium and associated metals in order to confirm the uranium anomaly.
Contact
George Sakalidis
Managing Director
Tel: +61-8-9485-2410
Mob: +61-411-640-337
Roger Thomson
Executive Director
Tel: +61-8-9485-2410
Mob: +61-419-969-183
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