Thatcher Soak (R38/1 - 100% owned) is located within the main Yilgarn calcrete province in Western Australia and includes an Inferred Mineral Resource of 10.9 Mlbs U3O8 at 425 ppm U3O8. Thatcher Soak is a calcrete hosted uranium deposit. Other similar style deposits in this province include Yeelirrie, Lake Way, Centipede and Lake Maitland.
The Project is located approximately 160 km northeast of Laverton, with access via the Great Central Road (see Figure 1).
The calcrete deposit is mostly less than 10 m below surface with the mineralogy similar to other West Australian calcrete deposits tested by Elevate for U-pgrade™ amenability.