Mundaerno Project

The Mundaerno project comprises one exploration licence application EL 6958 that comprises two Blocks for a combined area of 294 square kilometres, located in the Southern Curnamona Province of South Australia. The licence is contiguous with Boss Energy Ltd (ASX: BOE) exploration licence, that hosts the Honeymoon Uranium Mine, situated 12 km to the north of the Mundaerno project. Refer to Figure 1.

The Mundaerno project is considered highly prospective for sedimentary-hosted roll-front and tabular-style uranium mineralisation associated with Tertiary palaeochannels. The project is situated approximately 12 km south of the Honeymoon Uranium Mine and has the same paleochannel feature, the Yarramba Palaeochannel that hosts the Honeymoon Uranium Mine (36 Mlbs contained U₃O₈), Yarramba (Jasons) deposit (11 Mlbs contained U₃O₈) held by Boss Energy Ltd (ASX: BOE) and the Saffron deposit (5.4 Mlbs contained U₃O₈) held by Marmota Limited (ASX: MEU) as well as other uranium occurrences. Refer to Figure 1.

Previous exploration for uranium was limited to six wide-spaced drillholes in the 1970’s that intersected weathered basement granite followed by a regional drilling campaign in 2011 which consisted of 14 vertical Aircore holes drilled ~500 m apart along several very widely spaced traverses. Drillholes were sited to test an interpreted extension of the Yarramba Palaeochannel and intersected sand, silt and clay beds of the prospective cover sequence, including a basal sandy unit, into weathered basement which yielded a peak uranium value of 130 ppm U. A number of drillholes proposed, to target radiometric anomalies across palaeochannel features remain undrilled due to a downturn in the uranium market at that time.

The Mundaerno project is situated in the Southern Curnamona Province comprising Proterozoic metasediment and metavolcanic units of the Willyama Supergroup and Mesoproterozoic granites of the Bimbowrie Suite, including the Mundaerno Suite. Tertiary and Quaternary sediments lie directly on top of gneissic and granitic basement rocks with varying thickness.

Orpheus’ exploration objective is to delineate the margins of the Yarramba Palaeochannel via geomorphological reconstruction of the palaeochannel and palaeovalley surface, to locate suitable trap sites for sedimentary-hosted roll-front and/or tabular-style uranium mineralisation. The work program proposed for the Mundaerno project includes:

• Map the palaeosurface via acquisition of passive seismic, detailed ground gravity and electrical methods;
• Prospect scale geochemical sampling via direct measures of uranium (radon sampling, surface geochemical sampling); and
• Drilling of high priority targets within the Yarramba Palaeochannel.

Orpheus has commenced compiling and interpreting all existing datasets.