ERO Mining Limited has reached in principle agreement with Maximus Resources Limited regarding an amendment to the company's Billa Kalina Joint Venture covering EL 4468 and ELAs 351/10, 350/10, 78/10 and 33/10.
Reported that exploration had been directed at the shallower sandstone-hosted uranium potential via interpretation of the airborne EM data collected in 2007-08. This work has highlighted a discrete sub-basin within the north-eastern portion of EL 3526. The basin, named the Sunshine Dam Project, is defined by a coincident EM anomaly and gravity low that is interpreted to represent a thickening of the Mesozoic cover sediments within the basin.
August 24, 2007
Announced a progress report on drilling where the first drill hole, BKDDH02, sited on the flank of the main gravity feature has been completed at a depth of 597 metres. This hole intersected basement basaltic and andesitic volcanics under 317m of sedimentary cover and remained within this sequence to the end of hole. The second drill hole, BKDDH01, sited over the peak gravity response is currently at a depth of 464 metres. From 248 metres to 464 metres the hole has intersected a sequence of mafic volcanics that appear to be essentially identical to those intersected in BKDDH02, with common quartz-hematite veining and minor pyrite throughout.
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