Despite the amount of uranium present the Basin is significantly less explored than the other major uranium provinces of Australia. Energy and Minerals Australia Ltd have recently announced a JORC compliant inferred resource of 24,500 t U3O8at a cut off grade of 200 ppm U3O8 for the Mulga Rock deposit.
The drill programme is designed to test the prospective Junction Palaeochannel. This prospectivity is based on the similarity of the palaeochannels to those at Mulga Rock and Ponton, and also the presence of the Thatcher Soak calcrete deposit up-drainage in the channel. Thatcher Soak, held by Uranerz Ltd and Eleckra Mines Ltd, contains almost 20 million pounds of uranium in JORC compliant resources.
