The Fitton Project comprises a number of exploration licences covering prospective Mt Painter and Eromanga Basin geology - well known for hosting large uranium deposits and mines including the currently operating Beverley, Beverly North and Four Mile uranium mines.
Core first discovered uranium at Fitton with the Company’s first drilling campaign on the project. The Company’s second RC drilling program hit thick and high grade uranium intercepts which have continued to extend uranium mineralisation.
Best intersections of high grade shallow uranium mineralisation at Core Exploration’s Fitton Project include 11m @ 1309 ppm U3O8 (across strike) and 60m @ 480 ppm U3O8 (down plunge).
Core’s exploration work and drilling at Fitton has now confirmed that:
- Uranium mineralisation outcrops.
- Uranium mineralisation contains both thick and high grade intersections.
- Uranium mineralisation extends to at least 150m downhole depth.
- The mineralised structure is over 1km long.
- Exploration potential for repeated mineralised structures.
Core’s 100% owned Fitton Project is located in a proven world-class uranium mining region, 500 kilometres north of Adelaide in South Australia and is located within 25km of 3 operating uranium mines
- Beverley Mine (46Mlb U3O8 Resource 7.7Mt @ 0.27% (21,000T U3O8)
- Beverly North Mine (8.8Mlb U3O8 Resource 2.2Mt @ 0.18% (4,000T U3O8)
- Four Mile Mine (71Mlb U3O8 Resource 9.8Mt @ 0.33% (32,000T U3O8)
The Fitton Project covers the north-west edge of the Mt Painter geology, a block that is highly prospective for both primary mineralisation. Mt Painter geology is rich in uraniferous Proterozoic granites which have acted as source lithologies for secondary palaeochannel uranium deposits.
Core’s tenements also cover substantial Eromanga Basin geology. The Eromanga Basin is proven to host secondary uranium mineralisation as demonstrated by the presence of the nearby and currently operating Beverley, Beverley North and Four Mile Uranium mines.
Uranium mineralisation at Scott Lee Prospect appears to be associated with sulphide rich portions of the doleritic schist close to the southern contact with the granite which suggests that portions of the schist have acted as a conduit and reductant host which has formed a chemical trap for uranium rich fluid likely to be sourced from the uranium rich granites of the Mt Painter Inlier.
Core’s discovery at Fitton opens up further exploration potential within the Project. Core plans to explore for further mineralisation along strike of the host shear structures, particularly at any redox boundaries including at the major Unconformity between the uranium rich granites of the Mt Painter and Mt Babbage inliers with the overlying Adelaidean sediments.