Following the confirmation, the company plans to accelerate exploration activities to identify additional resources at Yanrey with multiple prospects within the large under-explored tenement holding.
The upgrade in exploration target follows the recent 300% increase in the inferred uranium resource at Bennet Well to 15.7Mlbs from the previous 4.8 Mlbs.
Cauldron operations head Simon Youds commented that the company is pleased to have upgraded the resource by 300% and will continue to enhance the resource based on the extensive prospects yet to be tested, to have substantially more uranium mineralisation which may further grow the resource.
"While it is very early on in the exploration of this area of Western Australia, we believe the area is emerging as a significant uranium province," Youds said.
"This is just a small area which has been drilled and we can see from historical drilling and exploration reviews that we are likely to identify significant additional uranium resources elsewhere in our large tenement package," Youds added.
