CDU _ now it's Uranium
I wonder if the announcement will have any impact on the price.
ACN. 000 317 251
Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288
Email: admin@cudeco.com.au Website: www.cudeco.com.au
4th April, 2007.
The Manager
Company Announcements Office
ASX Ltd
4th Floor, 20 Bridge Street
Sydney NSW 2000
Dear Sir
EPM 13049 INCORPORATING ROCKLAND COPPER AND WILGAR
URANIUM BASED METAL PROSPECT (CDU 100%)
WILGAR URANIUM PROSPECT SURPRISES WITH 53,000PPM
(5.3%U), UP TO 50 OZS TONNE SILVER, .7% COPPER, 1.68% LEAD
The company has recently carried out reconnaissance ground radiometric surveying and rock chip
sampling at the Wilgar North Prospect. Exploration results have confirmed the prospect’s excellent
potential to host uranium mineralization.
To date reconnaissance ground radiometric surveying has identified an area of 50m x 30m as the centre
of a radiometric high. The survey utilized a SPP2 scintillometer which records total radiometric counts.
Ground radiometric readings are all above a background of 500counts per second with several outcrops
and soil areas returning greater than 1000 counts per second up to maximum of 15000 counts per
second. The latter is the highest scale on the instrument.
Calcareous rocks outcrop in the area of high radiometric counts. Rock chip sampling returned highly
anomalous uranium values. 14 of 16 samples returned greater than 200 ppm uranium with two samples
up to 6300 ppm and 5.3% uranium. The highest grades of uranium were returned from quartz carbonate
rocks which consist of coarse sparry pink manganiferous calcite, intergrown with quartz and minor red
feldspar. Patches (up to 1cm) and thin veins of the primary uranium mineral uraninite (pitchblende) occur
in the quartz carbonate rock. Oxidation has produced fracture coatings of minor secondary yellow and
Cudeco Limited – ASX Announcement
Page 2 of 3
green uranium minerals. Copper is evident as minor malachite. High lead and silver are also
present in the rock chip samples. (See Analytical Results below)
The base metal and silver association, quartz-carbonate-red feldspar host rock, together with the
presence of uraninite, suggest a primary hydrothermal, rather than a surficial, origin for the
mineralization.
The significance of these results is being evaluated with bedrock drill sampling.
SAMPLE RECOVERY AND ANALYTICAL
Sixteen rock chip samples were taken from a number of costeans (1m deep trenches) and from
surface within the general Wilgar Uranium Anomalous area discovered by CRA in 1972. Each
sample consisted of approx 15-25 rock chips and soil with a total weight each of approx. 1kg. The
SGS Laboratory in Welshpool WA was instructed to carry out a multiple element scan ICP
(Inductively Coupled Plasma) for 24 elements.
The assays for the 24 elements were carried out using the methods below:
ICP40Q : ICP – OCC after DIG 40Q
AAS43B : AAS after DIG 43B
IMS90Q : ICPMS after DIG 90Q
4 Elements Uranium, Copper, Lead, Silver are tabled.
One Uranium sample assayed up to 5.3% (53,000ppm) U , (180 pounds U per tonne), 2 samples
assayed over 8 ounces Ag with one sample assaying 50 ounces per tonne Ag, with other samples
assaying up to 0.7% Cu and 1.6% Pb. See Table below.
ANALYTICAL RESULTS
61772 230307 Ag Ag Ag Cu Cu Pb Pb U U U
METHOD AAS43B ICP40Q ICP40Q AAS43B ICP40Q ICP40Q IMS90Q
LDETECTION 50 2 5 0.01 10 10 0.25
UDETECTION 40000 200 10000 40 5000 10000 100000
SAMPLE NO PPM PPM Ounces PPM % % PPM PPM PPM %
UW01 - 28 0.90 153 0.02% - 300 120 - 0.01%
UW02 - 74 2.38 1120 0.11% - 250 140 - 0.01%
UW03 - 25 0.80 86 0.01% - 140 190 - 0.02%
UW04 - 64 2.06 378 0.04% - 280 90 - 0.01%
UW05 260 >200 8.36 2630 0.26% - 820 280 - 0.03%
UW06 - 93 2.99 1280 0.13% - 130 180 - 0.02%
UW07 - 48 1.54 725 0.07% - 140 70 - 0.01%
UW08 - 30 0.96 0.00% - 290 260 - 0.03%
UW09 260 >200 8.36 73 0.01% - 3380 230 - 0.02%
UW10 - 77 2.48 434 0.04% - 1450 350 - 0.04%
UW11 1580 >200 50.80 7030 0.70% - 2910 570 - 0.06%
UW12 - 127 4.08 613 0.06% - 540 150 - 0.02%
UW13 - 142 4.57 797 0.08% - 740 230 - 0.02%
UW14 - 22 0.71 64 0.01% - 3830 6500 - 0.65%
UW15 - 62 1.99 159 0.02% 1.61 >5000 >10000 53000 5.30%
UW16 - 106 3.41 1410 0.14% - 950 1030 - 0.10%
Cudeco Limited – ASX Announcement
Page 3 of 3
Cu = Copper, Pb = Lead, Ag = Silver, U = Uranium
ppm = grams/tonne, 10,000 ppm = 1%, 31grams = 1 ounce
The Wilgar Uranium, “base metals uranium” prospect is independent and “stand alone” from the
Rocklands Group Copper Project. Located within the 2200ha EPM (now mining lease application)
its location is approximately 1.3km’s to the north east of Las Minerale and located on an east west
structure as opposed to the NW/SE Las Minerale strike trend.
Although the preliminary results are highly encouraging the main focus of the company remains the
Rockland Group Copper Project. The company will however due to the encouraging results appoint
a project geologist is the prospect. The follow up work will entail further surface radiometric and rock
chip sampling and geological mapping and the continuation of the bedrock drill program.
Yours faithfully,
Wayne McCrae,
Chairman.
The information in this report that relates to exploration results is based on information compiled by Mr Malcolm Carson , who is a Member of the
Australian Institute of Mining and Metallurgy, Mr Carson is employed by Mineral Resource Consultants Pty Ltd. Mr Carson has sufficient experience,
which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Carson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
I wonder if the announcement will have any impact on the price.
ACN. 000 317 251
Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288
Email: admin@cudeco.com.au Website: www.cudeco.com.au
4th April, 2007.
The Manager
Company Announcements Office
ASX Ltd
4th Floor, 20 Bridge Street
Sydney NSW 2000
Dear Sir
EPM 13049 INCORPORATING ROCKLAND COPPER AND WILGAR
URANIUM BASED METAL PROSPECT (CDU 100%)
WILGAR URANIUM PROSPECT SURPRISES WITH 53,000PPM
(5.3%U), UP TO 50 OZS TONNE SILVER, .7% COPPER, 1.68% LEAD
The company has recently carried out reconnaissance ground radiometric surveying and rock chip
sampling at the Wilgar North Prospect. Exploration results have confirmed the prospect’s excellent
potential to host uranium mineralization.
To date reconnaissance ground radiometric surveying has identified an area of 50m x 30m as the centre
of a radiometric high. The survey utilized a SPP2 scintillometer which records total radiometric counts.
Ground radiometric readings are all above a background of 500counts per second with several outcrops
and soil areas returning greater than 1000 counts per second up to maximum of 15000 counts per
second. The latter is the highest scale on the instrument.
Calcareous rocks outcrop in the area of high radiometric counts. Rock chip sampling returned highly
anomalous uranium values. 14 of 16 samples returned greater than 200 ppm uranium with two samples
up to 6300 ppm and 5.3% uranium. The highest grades of uranium were returned from quartz carbonate
rocks which consist of coarse sparry pink manganiferous calcite, intergrown with quartz and minor red
feldspar. Patches (up to 1cm) and thin veins of the primary uranium mineral uraninite (pitchblende) occur
in the quartz carbonate rock. Oxidation has produced fracture coatings of minor secondary yellow and
Cudeco Limited – ASX Announcement
Page 2 of 3
green uranium minerals. Copper is evident as minor malachite. High lead and silver are also
present in the rock chip samples. (See Analytical Results below)
The base metal and silver association, quartz-carbonate-red feldspar host rock, together with the
presence of uraninite, suggest a primary hydrothermal, rather than a surficial, origin for the
mineralization.
The significance of these results is being evaluated with bedrock drill sampling.
SAMPLE RECOVERY AND ANALYTICAL
Sixteen rock chip samples were taken from a number of costeans (1m deep trenches) and from
surface within the general Wilgar Uranium Anomalous area discovered by CRA in 1972. Each
sample consisted of approx 15-25 rock chips and soil with a total weight each of approx. 1kg. The
SGS Laboratory in Welshpool WA was instructed to carry out a multiple element scan ICP
(Inductively Coupled Plasma) for 24 elements.
The assays for the 24 elements were carried out using the methods below:
ICP40Q : ICP – OCC after DIG 40Q
AAS43B : AAS after DIG 43B
IMS90Q : ICPMS after DIG 90Q
4 Elements Uranium, Copper, Lead, Silver are tabled.
One Uranium sample assayed up to 5.3% (53,000ppm) U , (180 pounds U per tonne), 2 samples
assayed over 8 ounces Ag with one sample assaying 50 ounces per tonne Ag, with other samples
assaying up to 0.7% Cu and 1.6% Pb. See Table below.
ANALYTICAL RESULTS
61772 230307 Ag Ag Ag Cu Cu Pb Pb U U U
METHOD AAS43B ICP40Q ICP40Q AAS43B ICP40Q ICP40Q IMS90Q
LDETECTION 50 2 5 0.01 10 10 0.25
UDETECTION 40000 200 10000 40 5000 10000 100000
SAMPLE NO PPM PPM Ounces PPM % % PPM PPM PPM %
UW01 - 28 0.90 153 0.02% - 300 120 - 0.01%
UW02 - 74 2.38 1120 0.11% - 250 140 - 0.01%
UW03 - 25 0.80 86 0.01% - 140 190 - 0.02%
UW04 - 64 2.06 378 0.04% - 280 90 - 0.01%
UW05 260 >200 8.36 2630 0.26% - 820 280 - 0.03%
UW06 - 93 2.99 1280 0.13% - 130 180 - 0.02%
UW07 - 48 1.54 725 0.07% - 140 70 - 0.01%
UW08 - 30 0.96 0.00% - 290 260 - 0.03%
UW09 260 >200 8.36 73 0.01% - 3380 230 - 0.02%
UW10 - 77 2.48 434 0.04% - 1450 350 - 0.04%
UW11 1580 >200 50.80 7030 0.70% - 2910 570 - 0.06%
UW12 - 127 4.08 613 0.06% - 540 150 - 0.02%
UW13 - 142 4.57 797 0.08% - 740 230 - 0.02%
UW14 - 22 0.71 64 0.01% - 3830 6500 - 0.65%
UW15 - 62 1.99 159 0.02% 1.61 >5000 >10000 53000 5.30%
UW16 - 106 3.41 1410 0.14% - 950 1030 - 0.10%
Cudeco Limited – ASX Announcement
Page 3 of 3
Cu = Copper, Pb = Lead, Ag = Silver, U = Uranium
ppm = grams/tonne, 10,000 ppm = 1%, 31grams = 1 ounce
The Wilgar Uranium, “base metals uranium” prospect is independent and “stand alone” from the
Rocklands Group Copper Project. Located within the 2200ha EPM (now mining lease application)
its location is approximately 1.3km’s to the north east of Las Minerale and located on an east west
structure as opposed to the NW/SE Las Minerale strike trend.
Although the preliminary results are highly encouraging the main focus of the company remains the
Rockland Group Copper Project. The company will however due to the encouraging results appoint
a project geologist is the prospect. The follow up work will entail further surface radiometric and rock
chip sampling and geological mapping and the continuation of the bedrock drill program.
Yours faithfully,
Wayne McCrae,
Chairman.
The information in this report that relates to exploration results is based on information compiled by Mr Malcolm Carson , who is a Member of the
Australian Institute of Mining and Metallurgy, Mr Carson is employed by Mineral Resource Consultants Pty Ltd. Mr Carson has sufficient experience,
which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Carson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
