Figure 1 provides an updated indicative timeline for the exploration program. Drilling commenced early June as planned, starting at the SWC target where 2023 trenches intersected up to 7139ppm U3O8. After SWC the rig will move over to Mtonya and Likuyu North (Figure 2) where drilling will test potential extensions and new zones at these existing uranium deposits. The final stage of the drilling will be follow-up on the most promising areas. Further details of the program are provided in GLA’s announcement dated 10th May 2024 and those of Q4 2023.
Downhole gamma-ray logging
The Company has purchased downhole gamma-ray logging equipment to provide rapid guidance of the depth of mineralization that may be encountered, and the relative intensity of mineralized intervals, though grade data will not be reported until later once the results of laboratory analyses are received, expected late July onwards.
Ground magnetic survey at Likuyu North
Gladiator has engaged a geophysical contractor to carry out a 375 line-km high resolution ground magnetic survey over a block including the Likuyu North deposit. Surveying began on early in June and be completed with processing early in July. The deposit is broadly controlled by a large structure adjacent to which the Nyota deposit (20 km to the north) is also located. Nyota has a Measured and Indicated MRE of 187 Mt at 306ppm U3O8 containing 124.6 Mlbs U3O8. The magnetic data is intended to improve on the current interpretation of primary and secondary structures and other features that may (directly or indirectly) control the uranium mineralisation. This information may then be used to optimise the drilling plan at Likuyu North.
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