Diamante

Diamante Project Highlights
  • A pioneering discovery of an emerging uranium district
  • Trench results:
    • 3.53 lbs/ton U3O8 (0.150% uranium) over 30.0 metres including 7.84 lbs/ton U3O8 (0.332% uranium) over 12.0 metres
    • 10.7 lbs/ton U3O8 (0.452% uranium) over 2.8 metres
  • Drill results*:
    • 0.35 lbs/ton U3O8 (0.015% uranium) over 49.0 metres starting on surface
    • 2.81 lbs/ton U3O8 (0.119% uranium) over 1.0 metres

Diamante Property - Salta and Catamarca Provinces, northwest Argentina

The Diamante project is a true pioneering discovery of a new uranium district located on the boundary between the Provinces of Salta and Catamarca in northwestern Argentina, approximately 170 kilometres southwest of the city of Salta. Exploration to date indicates that the very large (~133 square kilometre) property is prospective for both surface to near-surface bulk tonnage uranium mineralization in addition to potentially higher-grade 'feeder--zone' mineralization such as that at the Bingo Zone.

Exploration has now identified seven large mineralized zones over a 20 kilometre by 30 kilometre area. Significant results from exploration to date include:
  • A pioneering discovery of an emerging uranium district
  • Trench results:
    • 3.53 lbs/ton U3O8 (0.150% uranium) over 30.0 metres including 7.84 lbs/ton U3O8 (0.332% uranium) over 12.0 metres
    • 10.7 lbs/ton U3O8 (0.452% uranium) over 2.8 metres
  • Drill results (* - results may underestimate actual uranium values as a result of sampling techniques):
    • 0.35 lbs/ton U3O8 (0.015% uranium) over 49.0 metres starting on surface
    • 2.81 lbs/ton U3O8 (0.119% uranium) over 1.0 metres
The Diamante project is situated on the flanks of the Cerro Galan Caldera Complex (CGCC) which at 60 kilometres in diameter is believed to be one of the largest felsic calderas in the world. Mineral endowment calculations of similar felsic volcanic deposits demonstrate that they are ideal uranium sources capable of producing very significant volumes of uranium mineralization, examples include the McDermitt Caldera (Nevada, USA), the Pena Blanca (Mexico) district and the Streltsovka Distrcit (Russia - reserves and past-production quoted at 560 million lbs/t U3O8 in 20 deposits).

Overall the Diamante property proved remarkably successful for a project that has seen only two years of grassroots exploration since the Company made the initial discovery in 2006. Significant advances have been made in understanding the geology and distribution of near surface uranium mineralization at the major target areas and several advanced exploration targets, high priority prospecting anomalies and conceptual targets remain to be explored.

The Company is currently seeking joint ventures partners to advance the Amblayo project while efforts are concentrated on the flagship Rodeo de los Molles rare earth element and Bororo Nuevo uranium properties.