Vimy Resources Limited (ASX: VMY, OTCQB: VMRSF) (Vimy or Company) is pleased to announce the first two diamond drill holes have intercepted new uranium mineralisation at its 100%-owned Angularli Deposit in the Northern Territory (see ASX announcements dated 9 May and 12 July 2022).
HIGHLIGHTS
- First two diamond holes intercepted uranium mineralisation up-dip of the Angularli inferred resource, with key intercepts including:
- Drill hole ARDD0004:
- 5.40m @ 0.45% eU3O8 from 179.9m
- 6.35m @ 0.95% eU3O8 from 217.9m, including
- 2.95m @ 1.42% eU3O8 from 221.3m
- Drill hole ARDD0003:
- 2.65m @ 0.51% eU3O8 from 170.9m
- 4.50m @ 0.56% eU3O8 from 184.7m
- 5.90m @ 0.30% eU3O8 from 191.0m
- Drill hole ARDD0004:
- Third drill hole nearing completion and two additional up-dip holes planned.
The two diamond drill holes successfully extended the Angularli Deposit in an up-dip direction, approximately 200m above the unconformity boundary, which was previously thought to limit the extent of uranium mineralisation. The width and tenor of mineralisation intercepted in both holes warrant additional drilling further up-dip from the current drill holes, to further extend the known mineralisation within the Mamadawerre Sandstone Formation.
Vimy’s Managing Director and CEO, Steven Michael, said: “Our team is very excited by the early success achieved in the first two holes at Angularli, which contains the highest uranium grade of any known uranium resource within Australia.
These first two holes continue to demonstrate the growth potential of Angularli to increase in scale and value. Drilling continues with additional up-dip and down-plunge holes and Vimy expects to update the mineral resource in late 2022.”
