Walbiri has an inferred resource of 7037 tonnes of equivalent uranium oxide at 641 parts per million, using a 200ppm cut-off.

The deposit had an earlier historical resource of 4789t uranium oxide, estimated in 1976.

Energy Metals said the resource made Walbiri the third-largest uranium deposit in the southern Northern Territory after Paladin Energy’s Angela deposit (13,980t) and the company’s own Bigrlyi deposit nearby (12,230t).

The company is looking into a joint development of Bigrlyi and Walbiri.

Small inferred resources were also announced for Bigrlyi satellite deposits.

The Sundberg deposit has a resource of 260t equivalent uranium oxide at 259ppm, while the Hill One deposit has a resource of 159t at 321ppm.

Energy Metals is confident of further growing resources in the area and will conduct additional drilling.

 

Shares in Energy Metals were untraded at A9.2c yesterday.