Shares in uranium explorer, Cauldron Energy, have risen over 18 percent in a currently down trading market today with the company announcing a significant extension of the mineralized zone at its Bennet well channel property.
The Bennet well channel and adjacent Bennet well deposit are located within Cauldron Energys Yanrey uranium project, 85 kilometres south of Onslow in the Western Australia Pilbara region.
Drilling results released today have extended the mineralized area by at least 7 km, extending strike at the Bennet well channel to over 11 km in total. The result is encouraging for the uranium junior mining company and provides significant exploration upside, within a highly prospective area to the southeast of the Bennet well channel remaining underexplored.
Cauldron Energy Manager of Operations, Simon Youds said that with another positive round of results, the company is now establishing a strong track record for uranium exploration success, proving that they have a good understanding of the mechanism of mineralization involved.
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