The Mopoke Well project, which formerly comprised exploration licence E29/568, is located 55km west of Leonora. The project area covers two historic uranium prospects (Peninsula and Stakeyard Well) in which uranium is hosted in calcretised sediments associated with the Lake Raeside drainage system
In March 2013, a maiden JORC (2004) resource estimate was undertaken for the Peninsula deposit using the results from drilling undertaken by Energy Metals in the period 2008 to 2012. The resource estimate is detailed in the table below for 100ppm eU3O8 cut-off grade.
Peninsula Prospect Inferred Resource Estimate at a 100ppm eU3O8 cut-off
|Tonnes(Million)||Grade eU3O8 (ppm)||Contained U3O8 (tonnes)||Contained U3O8 (Mlb)|
Tonnes are metric (2204.62 pounds), figures may not total due to round-off errors.
Significant figures do not imply precision.
In May 2015, a retention licence (R29/1) was granted over resource and potential future mine infrastructure areas at Mopoke Well to enable EME to maintain tenure over the project until such time as there is an improvement in uranium market conditions, and hence project economics.