Wilcherry - Jungle Dam Uranium Discovery

• Aircore and slimline RC drilling has outlined a new uranium discovery near Jungle Dam on Lincoln Minerals’ Wilcherry Project, EL 3690, northeast of Kimba.

• The results include a 4m interval grading 0.05% U (16m @ 0.02% U) accompanied by 0.1% base metal (Zn+Pb+Ni+Cu+Co) in saprolitic clay associated with pyritic and graphitic units. A second zone of saprolitic uranium mineralisation approximately 1.5km east contains 20m @ >0.01% U.

• The results are adjacent to uraniferous calcrete-soil anomalies with up to 17ppm U and represent an exciting new uranium discovery on Eyre Peninsula.

• The Wilcherry Project is along strike from the Weednanna gold (copper-iron) and Menninnie Dam zinc-lead-silver deposits to the northwest and straddles the boundary between the Cleve and Coolanie subdomains within the Central Gawler Gold Province. There is considerable potential for gold and/or base metal mineralisation maybe with associated hydrothermal iron oxide and/or sericite alteration.

• In addition to Weednanna and Menninnie Dam, previous exploration discovered several gold and base metal occurrences in the region includingskarn-related iron metasomatism, high-grade zinc and lead intersections up to17.2% Pb, 8.9% Zn and 474 ppm Ag at Telephone Dam, androck chip samples at Lake Gilles South prospect ranging up to 50ppm U, 0.29% Pb, 0.27% Zn and 0.2% Bi.

• The margins of Lake Gilles are prospective for sediment hosted or palaeochannel uranium mineralisation.
  

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