• Cauldron awarded co-funded grants of up to $217,750 for geophysics and drilling at Yanrey Uranium Project
• Grants will fund follow-up passive seismic surveying and first pass exploration drilling
• Recognition of importance of uranium exploration to WA economy

Cauldron Energy Ltd (ASX: CXU) has been awarded co-funded EIS grants totalling up to $217,750 for work programs to be undertaken at its Yanrey Uranium Project this year. The grants include up to $78,500 for follow-up passive seismic surveying and up to $89,250 for first pass exploration drilling. The passive seismic surveying will further define the complex palaeochannel network hosting uranium mineralisation, while the drilling will test specific targets in the Ashburton East region. Cauldron has previously had success with passive seismic surveying, which contributed significantly to the discovery of the Manyingee North deposit. The company plans to undertake 220 line kilometres of additional passive seismic surveying across the area between its Bennet Well and Manyingee North deposits. The drilling program will involve 20 aircore holes for 2,500m, targeting the northern bank of the extensively mineralised Manyingee Palaeochannel and the previously unknown Curtis Palaeochannel. Cauldron has defined over 55 Mlbs of uranium oxide resources within three deposits at Yanrey, and considers the central core of the province to contain a prolific but poorly explored palaeochannel system. The EIS grants are recognition of the importance of uranium exploration to the future of the WA economy.

The EIS grants will allow Cauldron to undertake important geophysics and drilling programs to further define and explore the prospective palaeochannel systems at its Yanrey Uranium Project, which the company believes have significant potential to host additional uranium resources.