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NORTHERN TERRITORY Vimy’s alligator River project

in NT is in one of the top three
uranium districts in the world

Vimy’s 2020 drill targets

imy Resources Ltd has wrapped up the “There are some really good targets up
Vfield season in the Northern Territory on there and the drilling we did recently found
a high note. this massively wide shear zone that we need
Results from a geochemical termitaria to follow up on which is what we are looking at
sampling programme revealed several sig- doing,” Young told Paydirt recently.
nificant uranium anomalies under shallow The results at Such Wow were produced
cover at Southern Flank, part of the Wel- from two diamond holes, partly funded by the
lington Range-King River JV Vimy (78%) NT Government’s Resourcing the Territory
has with Rio Tinto Exploration Pty Ltd Initiative, totalling 533m.
(22%) at the Alligator River project. While it was a good result at a time when
Vimy chief executive Mike Young said the some positive sentiment returning to the wid-
outcomes from the termitaria programme er exploration space, Young said interest in
comprising 900 termite mound samples over uranium still hadn’t warmed up.
12.5sq km further verified the Alligator River “In terms of investors coming in, there are a
exploration toolkit developed by the com- lot of cautious baby steps,” he said.
pany’s geologists, including some formerly “Having run an iron ore company and be-
aligned with Cameco Corp who were familiar fore that a gold company, the timing is more
with similar unconformity uranium deposits glacial than I would like. Junior markets are
seen in the Athabasca Basin. always funny, it doesn’t matter whether you
The onset of the NT wet season means are in nickel or gold, the only time news flow
activities at Alligator River are finished for helps your share price is if the market is run-
now. There will be a final release of news flow ning. Right now, you could announce that you
from the season in Q4 and the company also have radioactive free uranium and people still
expects to release details of ore sorting test wouldn’t help your share price; everyone is Mike Young
work at Angularli (maiden resource 26 mlb waiting for the market to move.” At the time of print, Vimy completed a $3.9
contained uranium from 910,000t @ 1.29%). There are indications the future is looking million placcement to institutional and sophis-
Upon the restart of activities at Alligator bright for uranium players, such as Cameco ticated investors, with a $3 million SPP also
River, Jabiluka-style mineralisation will be tar- signalling production cuts and buying supply planned.
geted at high priority drill targets at Southern in the spot market, Paladin Energy Ltd rais- The funds strengthen Vimy’s balance
Flank. ing $30.2 million to potentially reboot Langer sheet and allows it to undertake an explora-
Meanwhile, a 20km-long corridor at Such Heinrich by mid-2021 and clarification on tion programme at the Alligator River Project,
Wow has been targeted for further drilling af- Section 232 in the US, plus the most bullish as well as to update the DFS at the Mulga
ter a large, strongly altered shear zone was World Nuclear Association gathering in Lon- Rock, Western Australia.
identified in core from diamond drilling. don for some time. – Mark Andrews

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