The Telephone Dam prospect is located within company’s 100% owned Wilcherry Hill Iron Oxide, Copper, Gold and Uranium (IOCGU) Project in South Australia’s Gawler Craton.
The unexpectedly high uranium results and subsequent interrogation of data from historic exploration at Telephone Dam has established the 990 sq km Wilcherry Hill Project and much of the surrounding 2,000sq km in which Trafford has an interest as a new prospective uranium province and indicates that the area has a high potential to generate economic uranium deposits.
There are at least eight other known lead/zinc bearing carbonate units within the Wilcherry Hill area, none of which have, to date, been tested for Uranium.
The uranium mineralization at Telephone Dam appears to be concentrated in a weathered outcropping carbonate horizon with a known strike length of at least 1.5 km. This mineralized, tabular body is open to the North, South, and at depth. While strong/lead zinc and silver values have been returned from this unit, the carbonate also seems to be acting as a chemical trap for uranium circulating in ground waters.
Trafford Resources is funding the new Wilcherry Hill Exploration program with part of the proceeds from a $2 million fund raising which was completed on August 10, 2009.
The company has secured a multi purpose drill rig (RC and diamond core) for the drilling program.
