Lake Way South Project

(E53/1010) - Encounter 60%, Avoca 40% uranium rights only

The Lake Way South project is located approximately 10kms south of the township of Wiluna and covers an area of 117.3 km 2. The tenement covers approximately 12kms of the Lake Way drainage system and is located between Toro Energy's Lake Way uranium deposit to the north and its Centipede deposit to the south.

A 70-hole aircore drill program was completed along the north eastern margin of Lake Way in September 2006. The program was designed to test a series of subtle radiometric anomalies that are located to the east of the primary radiometric target. The results from this drilling defined a 1.2km long zone of near surface anomalism within lake sediments known at the Lake Way Satellite. Assays from within this zone included:

  • ELW 146 2m @ 210ppm U 3O 8 from 7m
  • ELW 143 1m @ 118ppm U 3O 8 from 1m
  • ELW 134 1m @ 159ppm U 3O 8 from 6m
  • ELW 136 2m @ 103ppm U 3O 8 from 0m
  • ELW 193 2m @ 127ppm U 3O 8 from 0m
  • ELW 192 1m @ 147ppm U 3O 8 from 5m

The southern 1km of the 12km long uranium channel radiometric anomaly that crosses Lake Way was aircore drilled in February 2007. The results have extended the area of known uranium mineralisation at Toro Energy's Centipede uranium at least 150m into the Lake Way JV tenement. Assay results at the Centipede Extension include:

  • ELW005 - 1m @ 312ppm U 3O 8 from 5m
  • ELW012 - 1m @ 224ppm U 3O 8 from 3m
  • ELW002 - 1m @ 147ppm U 3O 8 from 8m

The lake based aircore program was suspended following heavy rain associated with Cyclone George. The drill program will re-commence in 2008 and it will systematically test the remainder of the uranium channel radiometric anomaly that extends across Lake Way within the area of the JV tenement.

Lake Way