As part of the 10,000m program, the first two drill holes have intersected uranium at Bennet Well East.
Cauldron operations head Simon Youds said: "Cauldron is very pleased with these initial results which confirm the existence of higher grade mineralization at Bennet Well.
"They also show the potential for the company to extend the size of this high grade zone."
Hole BW0001 intersected 0.85m at the rate of 446ppm eU3O8 from 53.55m and 2.25m at 404ppm eU3O8 from 57.10m.
At the hole BW0002, 1.55m of uranium mineralization was identified at the rate of 667ppm eU3O8 from 47.75m.
Youds added: "The shallow depth of the intersections means potential production is expected to be at the lower end of the US$8-22/ lb mine gate in-situ recovery (ISR) uranium unit cost of production which will potentially improve the economic viability of mining at Bennet Well."
Bennet Well deposit comprises Bennet Well East, Bennet Well Central, and Bennet Well South.
A mud-rotary drill program will be conducted test the potential for uranium mineralization and the resource extension following which extraction of uranium through an in-situ leach method will be trialed.
