Cauldron Energy Says Drilling at Western Australia Uranium Deposit Extends Known Mineralization; Shares Reach 10-Year Peak

MT Newswires Live07-22 12:05

Cauldron Energy (ASX:CXU) said step-out exploration drilling at the Manyingee North deposit, part of the Yanrey uranium project in Western Australia, extended known mineralization further around 2,500 meters northwards, and around 550 meters to the south, according to a Wednesday Australian bourse filing.

It encountered intercepts of 2.30 meters at 258.3 parts per million of triuranium octoxide-equivalent from 91.62 meters, as well as 1.74 meters at 644.9 parts per million of triuranium octoxide-equivalent from 91.58 meters.

Air core drilling at the Cosgrove deposit also extended known mineralization, with an intercept of 0.50 meters at 301.4 parts per million of triuranium octoxide-equivalent from 61.11 meters.

Cauldron Energy's shares jumped nearly 12% in recent trading on Wednesday and earlier reached a 10-year peak.

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