Piche Resources Expands Footprint in Uranium-Rich Ashburton Region
Piche Resources Limited (ASX: PR2) has strategically expanded its Ashburton Uranium Project by applying for a new 214 km² tenement that directly adjoins its existing holdings. This acquisition increases the company's contiguous landholding to 335 km² across this highly prospective Proterozoic uranium unconformity district in Western Australia.
2024 Drilling Confirms Exceptional Uranium Potential
The expansion follows Piche's highly successful 2024 drilling program that delivered multiple high-grade uranium intercepts, confirming the project's strong potential. Standout results include:
- ARC006: 3.45m @ 5,129 ppm eU₃O₈ from 137.62m, including 0.34m @ 16,050 ppm eU₃O₈
- ARC002: 4.36m @ 2,205 ppm eU₃O₈ from 109.89m
- ADD006: 7.86m @ 2,266 ppm eU₃O₈ from 105.42m
- ADD005: 10.48m @ 1,412 ppm eU₃O₈ from 114.30m, including multiple high-grade zones
- ADD003: 2.42m @ 2,681 ppm eU₃O₈ from 155.1m and 1.90m @ 2,215 ppm eU₃O₈ from 161.40m
These results have significantly enhanced the company's understanding of the regional geology and potential for uranium discoveries across the broader Ashburton area.
Newly Discovered Geological Features Extend Mineralisation Potential
A key discovery from the 2024 drilling campaign was the identification of a previously unrecognised, well-defined talus flow unit throughout much of the Angelo area. This unit:
- Follows the key unconformity at Angelo A and B
- Remains open down-dip and potentially along strike in all directions
- Varies in thickness up to 50 metres
- May extend across Piche's entire 60-kilometre strike length along the target unconformity
The drilling program confirmed uranium mineralisation occurs at multiple stratigraphic levels—at the unconformity, within the overlying sandstone, and in the underlying basement complex. Preliminary structural analysis suggests mineralisation is likely controlled by northwest-trending fault structures.
"The identification of a previously unrecognised talus flow unit is a significant development in our understanding of the Ashburton Project's geology. This feature, coupled with our drilling results, reinforces our belief in the exceptional potential of this uranium corridor," stated John Simpson, Executive Chairman of Piche Resources.
Strategic Corridor Secured
The newly acquired tenement application encompasses this structural corridor and unconformity, extending from Angelo in the north to Atlantis in the south—a distance of approximately 60 kilometres. Historic drilling at the Atlantis prospect has returned impressive results, including:
- 5.5m @ 6,200 ppm U₃O₈
- 2.2m @ 7,400 ppm U₃O₈
Even more impressive, rock chip sampling within the Atlantis area has returned uranium grades as high as 37% U₃O₈, highlighting the exceptional mineralisation potential of the region.
Western Australia: An Emerging Uranium Powerhouse
Western Australia hosts substantial uranium resources, totalling almost 550 million pounds of U₃O₈ across 28 known deposits. Major deposits include:
| Deposit | Resource | Grade |
|---|---|---|
| Yeelirrie | 128.1 million lbs U₃O₈ | 0.15% U₃O₈ |
| Mulga Rocks | 104.8 million lbs U₃O₈ | – |
| Lakeway/Centipede/Dawson Hinkler | 80.5 million lbs U₃O₈ | – |
| Kintyre (Cameco) | 59.5 million lbs U₃O₈ | 0.62% U₃O₈ |
Piche's Ashburton Project is classified as a Proterozoic unconformity-style uranium project—a deposit type that accounts for approximately 33% of global uranium resources and is renowned for hosting some of the world's highest-grade and largest deposits.
Understanding Unconformity-Type Uranium Deposits
Unconformity-type uranium deposits form at or near the boundary between older basement rocks and younger sedimentary cover sequences. These geological structures are globally significant, accounting for approximately 20% of Australia's uranium resources and one-third of the Western world's uranium inventory.
These deposits are typically characterised by:
- Formation along unconformities between older metamorphic/igneous rocks and younger sedimentary rocks
- Association with faults and fractures that serve as pathways for mineralising fluids
- High-grade mineralisation (often exceeding 1% U₃O₈)
- Primary uranium minerals including uraninite and pitchblende
- Common association with hematitic alteration and graphitic/carbonaceous material
The world's richest examples occur in Canada's Athabasca Basin and Australia's Alligator Rivers region. Piche's Ashburton Project displays many of the classic geological features associated with these world-class deposits.
Due to longstanding tenement holdings in the Ashburton area since 1984 and historically low uranium prices, exploration activity has been minimal over the past 40 years. However, given the uranium-rich nature of the province, renewed exploration could potentially uncover multiple uranium resources comparable to the significant deposits already identified in Western Australia.
Future Exploration Plans
The company's strategic expansion secures a continuous 60-kilometre strike length of the uranium-bearing unconformity, providing Piche with control over one of Western Australia's most promising uranium corridors.
Piche's drilling programme has intersected significant uranium mineralisation not only at or near the unconformity but also in strata immediately above it and well into the underlying basement rocks. The mineralisation is commonly associated with hematitic alteration of feldspathic, medium- to coarse-grained sandstones, and is spatially linked to carbonaceous and graphitic shales. Notably, visible uraninite has been observed in several drill intersections.
Investment Thesis: Why Piche Resources Deserves Attention
Piche Resources has positioned itself as an emerging player in Australia's uranium sector with several compelling investment attributes:
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Strategic Land Position: With 335 km² of contiguous tenements covering 60 kilometres of prospective strike length, Piche controls a significant uranium corridor in Western Australia.
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Proven High-Grade Mineralisation: 2024 drilling has already confirmed multiple high-grade intercepts up to 16,050 ppm eU₃O₈, with rock chip samples at Atlantis grading as high as 37% U₃O₈.
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Underexplored Opportunity: Despite Western Australia hosting 550 million pounds of uranium resources, the Ashburton region has seen minimal modern exploration, creating significant discovery potential.
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Favourable Deposit Type: The unconformity-style mineralisation at Ashburton is the same type that hosts some of the world's richest uranium deposits, including those in Canada's Athabasca Basin.
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Multiple Mineralised Zones: The project contains several known mineralised zones (Angelo A, Angelo B, Atlantis) across its 60-kilometre strike length, suggesting district-scale potential.
Why Investors Should Follow Piche Resources
Piche Resources represents a compelling opportunity in the uranium exploration sector, with significant upside potential as uranium prices strengthen amid growing global demand for clean energy.
The company's Ashburton Project displays the geological characteristics associated with world-class uranium deposits, and recent drilling has confirmed high-grade mineralisation across multiple zones. With 335 km² of prospective ground and minimal historical exploration, Piche is well-positioned to make significant discoveries as it advances its exploration program.
For investors seeking exposure to the uranium sector, Piche Resources offers a strategic combination of proven mineralisation, district-scale potential, and a focus on a deposit type known for hosting some of the world's richest uranium resources.
Ready to Join Australia's Next Uranium Success Story?
Discover why Piche Resources is strategically positioned to capitalise on Western Australia's rich uranium potential with its expanded 335 km² Ashburton Project. With exceptional drill results up to 16,050 ppm eU₃O₈ and a commanding 60-kilometre strike length of prospective uranium-bearing unconformity, Piche offers investors a rare ground-floor opportunity in an underexplored region hosting the same deposit type as the world's richest uranium discoveries. To learn more about this compelling investment opportunity and stay updated on Piche's exploration progress, visit www.piche.com.au today.
